Calling top of five of wave (v) for Bitcoin
Updated
Bitcoin drop below $8000 mark after new candle day, it may indicate $8000 become a strong resistance. While others call Bitcoin beyond 10k, as a trader I think if it need to go up to 10k above, it means at least price need to well above 8k. Now price is twice as much as 200MA. Elliott best wave count interpretation shows it’s quiet clear there’s a higher chance it’s top of wave (v).Since wave (iii) is extensive, wave (v) extensive is less likely. As long as ATH maintain, wave (v) is likely finished.
Note
Using arithmetic chart
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