Elliott wave count on BTCUSD
Hi, in the past months I have became more and more fascinated by the wave principle, although I didn't publish anything.
This count in based on the idea that january low wasn't the end on the corrective wave following late 2013 top.
The main reason for that is my view on the 166,45 -> 315 rally: it happened in an abc type of move!
On BitFinex that abc was a perfect one...
(a) 166.45->230.74 = +38.62%
(c) 294->315 = +62.37%
(c) = (a) * 1.615... almost 1.618 (phi)!
This would mean that the final bottom is this far away.
I'll post in comments my recent wave count.
This count in based on the idea that january low wasn't the end on the corrective wave following late 2013 top.
The main reason for that is my view on the 166,45 -> 315 rally: it happened in an abc type of move!
On BitFinex that abc was a perfect one...
(a) 166.45->230.74 = +38.62%
(c) 294->315 = +62.37%
(c) = (a) * 1.615... almost 1.618 (phi)!
This would mean that the final bottom is this far away.
I'll post in comments my recent wave count.
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