BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I've been trying to graph out my Elliot wave on the current structure leading to this point and kept thinking, WHERE IS THE 3rd WAVE? heinsight is 20/20. Clearly we didn't get the push needed to hold up this INITIAL bull run up to the 9.2k resisteace before pullback. I've mapped out an ABC correction for this structure that runs long as projected by the caps initial breaking point. I found that Waves that end in uncertainty often run long on their correction. I know a lot of Traders that had this graphed up to 9k today. But as you can see from wave 3, it just wasn't long enough to keep up the momentum today. No worries. We'll have another opportunity in a couple days with even more pressure to push through the resistance.
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