Thanks @Flungspun. If I understand your first point right, you're leaning towards another wave down (5) to the $8k area. I very much agree with that possibility and give it a 50/50 chance. The only reason I may lean more towards bottom being in is because "A" down in Dec was a very messy subwave count.
One rule of Elliott is wave "C" is similar in time and duration (but also shape in a way), to "A", which could justify a messy "C" count.
Really tough to know, but I have high conviction one or the other is true. Studying the sub-wave makeup of this bounce (3 wave vs 5 wave move up) should gives us more context. Great points.
Not sure I understand the second part of your post (not your fault, describing Elliott in text format is tough to convey/pick up). Typically wave 5 is of equal length to wave 1 except in the case of an ending diagonal (very bearish to the trend).
In an ending diagonal each motive wave (1, 3, 5) gets progressively shorter. Wave 1 is longest, 3 is shorter, and 5 is shorter than 3. This usually signifies a reversal to the corresponding trend on that timeframe.
Feel free to clear me up on anything I'm not understanding. Your Elliott outlook seems good. Much better than Haejin's :)
RE: I correctly predicted the BTC crash. So where to next?