BTCUSD - Elliott Wave Analysis

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
If my EW analysis is correct, then we are heading to around 4400. This gives us 78.6% retracement of wave 1, and makes a = c for the zigzag . The channel line is also matching this scenario,

This is by no means any advice for buy/sell.

Please do leave feedback on your thoughts.

Comment: I was also thinking that wave a doesn't necessarily have to be equal wave c. Other possible reversal points might be 7200 (61.8%) and 5900 (78.6%). If it's 61.8%, then we might already be close to the end of the correction. (I must admit that it doesn't seem like it at this point).
what figure is b in zigzag?
mi_khan ypypy
@ypypy, It's marked with a "b" in the chart :)
count wise maybe, but RSI on daily is oversold now.
mi_khan retiringsoon1
@retiringsoon1, that means that it will go up now?
@mi_khan, wish i knew.
mi_khan retiringsoon1
@retiringsoon1, well, I think lots of people are waiting for the reversal and following the graph glued to the screen. Let's hope it ends soon :)
mi_khan retiringsoon1
@retiringsoon1, Thanks for the link. What implications do you think this hearing will/might have?
@mi_khan, any indication that SEC will be regulating the market will hit all crypto market and there will be big sell offs. but i doubt that will happen
mi_khan retiringsoon1
@retiringsoon1, ok, that's the last thing we need now. Hoping for a fast recovery at this moment as I am a HODLer :)
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