user100000
Long

Elliott Wave Analysis of BTCUSD (BITSTAMP); 4H

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I believe red b wave has completed recently with the blue c sub wave breaking out of it's impulsive channel. Red c impulse wave is underway. Blue wave 5 minimum target is 326 so expect the market to exceed this level (est target 365-465).
could you please explain: = But I still thought impulse wave (like 5) should contain 5 subwaves? Is it somehow leading-diagonal specific? Do you have long-term scenario wave count for me to understand what waves blue 5 and red abc are? Thank you.
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BokerPot BokerPot
could you please explain: blue 5 = red a-b-c
But I still thought impulse wave (like 5) should contain 5 subwaves? Is it somehow leading-diagonal specific? Do you have long-term scenario wave count for me to understand what waves blue 5 and red abc are? Thank you.
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user100000 BokerPot
Yes, that's correct. Blue wave 5 is part of the expanding diagonal since Jan. Blue waves 1, 2, 3, 4 and 5 of a diagonal all subdivide into abc corrections. Wave (a) will be completed once blue 5 is done. After that, we get a (b) wave correction and start new bubble to 20K

For more info on exp diagonals (click exp diagonal)...
http://proelliottwave.com/free-elliott-wave-resources/elliott-wave-principle-basics/

For my long term count please check out...
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oaksacorn user100000
Thank you for the link. Now I see where you are coming from.
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