pato
Long

Bitcoin might have another bull-play to go

BITSTAMP:BTCUSD   Bitcoin / Dollar
We have what looks like a 1,2,3,4 wave-count completed and could now be making plays for a 5th wave up to complete the cycle.

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so what just occurred was not the 5th wave?
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pato TheFinancialOprah
@TheFinancialOprah, I highly doubt it. If we come back and test the $11241 low seen on the decline, then I will revise the analysis but for now I highly suspect that we see another bullish impulse.
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@pato, and then the ABC correction back to the 8k-10k range?
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pato TheFinancialOprah
@TheFinancialOprah, I think that depends on where we do top out. according to the chart I have I think we get close to $24000 for a top, and then decline 50-61.8% of the entire bullish cycle. However, money is so hot in crypto that shorting at the top is tricky as buyers might extend the play. But if we do find weakness at the top and elliot wave holds,I would want to see $11744-$8943 or so on the decline.
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@pato, thank you!
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