Bitcoin Update


If my wave count is correct, then this might be the last great buying opportunity for BTC. As I noted in my last update, we have seen a text book leading diagonal off the intermediate wave (4) low. As I also stated, second waves following leading diagonals typically retrace 78.6% in a 5,3,5 zig zag pattern. That is exactly what we now have! If correct, then: i) BTC should not make a lower low (and all the Wyckoff distribution nonsense can finally be put to bed) and ii) it should impulse upward in its third wave through previous resistance.

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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