According o Elliot, the 4th wave could be done but might goto $4500 or $4800 max. Then we start the 5th and final wave down.
This is how I see this little patten, correction was a simple ZigZag, now were at the start of a possible minor wave 1.
Bitcoin primary count is a standard ZigZag correction (5,3,5). Be ready for a sharp reversal if we get to 0.5 and 0.618 fibs. I'm going long there.
Watch for a bounce between 0.5 and 0.618. 16MA and 8MA cross has been on the money recently. Watch for a cross with volume.
Wave 4 correction is over, it was a Flat 3,3,5. Now we head up for the 5th wave, Target 1 9300 - 9400.
BTC/USD nearing the outer edge of the Pitch Fork, primary EW count is the start of the final 5th wave (possibility of it extending).
Final 5th wave before correction, Target 1 is the primary count, could extend to Target 2
Got in at 7850 (when the price touched the 169 EMA). Target 1 is 9300-9400 before correction.
We could be at the end of wave 4 (50% of wave 1), if this count is correct we could pivot here for wave 5. Watch vol and EMA for confirmation.
The EW count is pretty clear, right now were at the bottom of the 5th impulse wave of 5. Look to short 8600-8800, we will correct with an a, b, c then continue the bull trend up.
