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cryptodecoder
Jul 18, 2018 7:46 PM

Bearish Elliott Count Short

Bitcoin / DollarBitfinex

Description

Bearish scenario:
1: wave (b) retraces to fib level 0.5 (red fib, red arrow)
2: wave (c) = .786 of wave (a) (yellow fib, yellow arrow)
...which matches $4500 level
...which matches wave C = 1.0 wave A (blue fib)
Comments
GuyWallace
Valid count. We will see if this is the case based on the length of the current retracement in the next few days :-) Good perspective and not unrealistic, although for the bears my target would be around $4900 but I have seen cases for lower
cryptodecoder
@GuyWallace, Thanks for your input. I am pushing it farther than $4900 because $4900 is kind of in a black hole, both on volume profile and on fib levels.
eduardokaykedasilva

I hope you are 100% wrong, XD
cryptodecoder
@eduardokaykedasilva, I wish ;) Like many, I have more to gain if it goes back up ;)
gdistasi
sure
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