Read the morning update!
White wave 4 was completed as shown in yesterdays post. Now BTC is dropping again in white wave 5.
White wave 5 must be shorter than white wave 3 (because 1 is longer than 3), or else the count is incorrect. Wave 3 can never be the shortest.
Stay tuned...
MORNING UPDATE: In yesterdays post I somehow assumed that wave 1 was longer than 3. I measured again and I somehow made a mistake. Wave 1 is shorter than wave 3 so wave 5 can be a s long as it wants to be...
See here:
A rare measurement mistake on my side... Sorry guys. That was unnecessary
Here is the updated version of the count (wave 5 of C)
The downtrend in BTC is likely over now.
UPDATE2: :D BTC rises 600$ on heavy volume after the low @ 8,360$
We also might see a potential bull wick in STEEM!
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
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