$BTC | Elliot Wave Count
Updated
This is my current Elliot Wave Count, we are starting the 5th wave in my opinion.
Note
Nice impulse up! Looks as if we are currently in the 2nd Wave of Macro Wave 5. The 2nd Wave can retrace upwards of 70% of the first impulse. $57,603 is the 0.75.
Invalidation of this idea is a break of the previous month low ($53,458). This would imply that the 4th Wave still hasn't finished printing, and could be targeting deeper discount. I would be looking for a reaction on the 0.62 of the Wave, ($43,475). That's the worst case scenario that still remains bullish.
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