Previous, in-depth analysis:
https://steemit.com/bitcoin/@puppycoins/bitcoin-august-15-2018-follow-up-to-the-previous-post-on-bitcoin-s-price-action
Small update:
We're still on track towards our target of $5,200 (with a potential wick towards $4,800), as shown below:
White subwave (2) could potentially retrace upwards still towards 0.618-0.65 zone, which would be ideal, but the 0.5 retrace zone is already quite acceptable. This all remains to be seen. However in the bigger timeframe of say the coming week, I expect downwards movement to complete an 8-month pattern.
Arch