BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Burst bubbles usually stabilise at their long term trendline (red) and long term mean (blue).

Elliot wave count agrees.

Wave 2 was a sharp correction; therefore wave 4 should be flat.

Buy the dip becomes sell the bounce.
you should read Hodler's Handbook...
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Nice elliot. But why do the volumes not matter on (3) ? Volumes create momentum for a Elliot Correction (ABC) like the ABC-Wave and volume on 2017-09-15 imho. Explain why (4) the sellers are going to dominate: correction elliot ABC (bulls win) versus the impulse wave 4. People should not apply any wave for the sake it. We need confirmations from other indicators as much as possible, as many as possible.
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I shared my analysis here: http://dai.ly/x6eldln.
Don't be foolish to think that the bitcoin would hit 20k or even 1 billion dollars.
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Go to sleep
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Agree, @TanayUK . We're going down, but it's funny. Every time I check BTC price, it seems to be at 8500....this last phase is excruciatingly slow. lol
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This doesn't make sense. Firstly, Elliott Waves follow a 5-3-5. We are in correction phase which implies an A-B-C. There are 5 (1-2-3-4-5) sub-waves in correction phase A and correction phase C.

This count implies that we are still seeing correction phase A. Which means we will see an A-B-C up after your wave 5 and then followed by another 1-2-3-4-5 down which has to go much lower than your initial 5.
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Jhawkfootball06 Jhawkfootball06
@Jhawkfootball06, You cannot just draw 5 waves and say "Elliott (two t's btw) wave count agrees" without understanding where and how to use them.
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Oscarthedog Jhawkfootball06
@Jhawkfootball06, That is correct. First correction phase isn't over yet. Some take years to complete.
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TanayUK PRO Jhawkfootball06
@Jhawkfootball06, thanks for your comment, I thought basic sequence of Elliott impulse wave was 1-2-3-4-5? http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory

Why isn't my count correct?
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