SUMMARY
This morning's update showed the below chart which called for the primary count to follow the blue circled waves.
I'm pleased to see that circled blue waves 3 and 4 have been adhered to very closely to the projected pathway as shown in the below chart of current price for Bitcoin. DAMN! That's HIGH PRECISION HIT! I believe the blue circled wave 5 could be complete soon. This will mean that five blue circled waves could be complete any moment and so it would call for a retrace as per Elliott Wave rule. That retrace would then complete the white wave (iv).
This downside move is only a correction....NOT a crash...NOT a COLLAPSE...THE TOP HAS NOT BEEN PUT IN, IMHO. The downside has been very controlled and thus methodically washing away all the weak hands...those uninformed traders who only shoot from the hips hoping to make a profit, or practice the shot gun tactic desperately trying to reduce their losses or even worse, just trade by their instincts and gut feelings. Once these innocents and idiots have been washed away, Bitcoin will once again resume its UpTrend!!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - d2e60e9856c36f34
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**