Bitcoin's corrective wave structures completely broken down from $10,500 from the perspective of Elliott Wave Theory.
We are about to finally conclude W-X-Y-X-Z which I've been expecting according to the chart linked below.
On lower timeframes, Subwave 3 of final Wave C can be seen to be in already. 0.786 fib is a key level many people are looking to long so Subwave 5 might hit just there.
However, the bottom is nearly in already & I firmly believe we will not go below $7,300 - for I have a count (linked below as well) of a similar W-X-Y-X-Z that indicates $7,300 was the bottom.
We are about to finally conclude W-X-Y-X-Z which I've been expecting according to the chart linked below.
On lower timeframes, Subwave 3 of final Wave C can be seen to be in already. 0.786 fib is a key level many people are looking to long so Subwave 5 might hit just there.
However, the bottom is nearly in already & I firmly believe we will not go below $7,300 - for I have a count (linked below as well) of a similar W-X-Y-X-Z that indicates $7,300 was the bottom.
Comment:
Update: for the final subwave counts; the long wick down to $8060 could've been the Subwave 3, bouncing to $8240 as Subwave 4 & this new low down to $8003 could be Subwave 5 that might have just completed the final Wave C entirely. That being said, the bottom fell short of the 0.786 fib at ~$7960 everyone was waiting for.
