wavepatterntraders

Short term Elliott Wave view of Bitcoin

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Kinda looks like it might be a small triangle, if you know a little about Elliott Wave , then triangles are very common in a 4th wave position of an impulse wave, so a thrust to the upside would be a terminal move, so if you are long think about cashing out if new highs for wave 5, bullish above 2385

Comments

You make a basic case for the current upside move's potential. However, why do you think the correction is complete, and do you have a supporting wave count for the correction, and prior. Most of all, why is this recent spike approaching all time highs, not the B wave of a Flat that began in June? Thanks.
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@RogueDave, Hello, the decline into the recent low was 3 waves, so I favor its all of a 4th wave, new highs i think end a large 3rd wave so need 5 waves
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@RogueDave, If it is only 3 waves, then a reversal is needed below 2385 to suggest a B wave of a flat
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RogueDave wavepatterntraders
@wavepatterntraders, Thanks for your criteria. To you keep Alternate Counts, because one can never know for sure...
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MylesY.Tan wavepatterntraders
@wavepatterntraders, What price range should we anticipate at wave 4 to buy some bitcoin
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