One of the rules about Elliott's waves says that it is normal for the correction wave, after a strong wave 5, to reach wave 4 that originated it. That's where we are now. So I do not see the need to run off to the top of the mountain. That is my point of view. Waves 3 and 4 are more easily seen on the 60-minute chart. Does anyone agree?
Wave A ending at 38% (14000.00) or going straight to 61% (10800.00) ? 14,000 points as a new resistance? S & P reaching 300% of 666.79 in 2008 (2667.16) next Monday, 12/11/2017. Between 100% of 666.79 and the fall of 2011 (27% fall) it took 6 months. Between 200% of 666.79 and the fall of 2014 (down 17%) took 12 months. In 2018 will we have a new fall in July or ...
Between the intersection of the x-lines and the intersection of the prices averages, there will be the maximum of the price, falling soon after. In the upper left corner of the "x" prices always fall, climbing soon after. So the fall of the BTC, for me, is normal. See examples at Apple Inc. "X" will never lie.
Considering Fibo, 2997.43 is at the fibo level 361.8%, starting at 666.79 (lower level of the subprime in the S & P) Still considering Fibo, 2667.16 (666.79 x 4) is at the fibo level of 61.8%, starting at 2997.43. We can consider that the zigzag A-B-C starts at 2997.43, and ends at 2667.16??? The fourth wave obtained its minimum in the fibo level 161.8%. Feasible?