BTC Elliott Wave Analyzes
Updated
Assuming this wave count is correct, we could expect a bounce from btc back to at least the 7600 area before heading back with the downtrend, this happens because btc had a very weak second wave, and due to the alternation rule, wave 4 should reach ~7600 before continuing to drop, as you see in this chart i already counted A wave as 5 waves up, so i really do not expect C to go much further than the .5 lvl at 7600, the stop is at the previous low at ~5800.
Trade closed: target reached
target hit, 20% proffit!
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