Oh man, I was counting the waves meticulously expecting it to break down the 10400 and continue the yellow circle wave 5 downward. Then saw the price bounced back to the blue dotted line which is the crucial level where the "wave 4 should not overlap wave 1" rule applies....and it hovered around that blue line for a while and BAMMM it shot up to where it is now....
In cases like this, if the wave 4 DOES overlap the wave 1, does it mean that I've counted wrongly? Or does it mean Elliot wave is not always 100% true? I mean, maybe the theory is "always" true but just that I've counted wrongly?
But I have been verifying all my counts down to the minuscule level to ensure all the fib levels are correct, and all waves have 5 subwaves, etc...
I know you don't like to correct other's on their mistake in counting, but perhaps do have a series of videos in future where you take some other charts and point out the mistake that were being made, I think learning from mistakes is also a great way to learn elliot waves too. Thanks for your consideration!!
RE: Bitcoin BTC Jan 26 Morning Update - BTC Consolidations Nicely with Bullish Signs Showing