Once again here is my Bitcoin wave count and my projection(s) for primary wave [3]’s possible targets. I did a much deeper dive into this, which can be found here: https://wordpress.com/post/alphahorn.com/62361. You here a lot of people talk about bitcoin in terms of Cycles. To an EW technician Cycles mean a very specific thing. To the uninitiated, it is just a very crude way for those who don’t understand Elliott Wave to try to apply EW type principles to BTC. BTC has been a very easy asset to apply a wave count to. It is through our understanding of EW analysis that we were able to call the intermediate wave (4) low as it sought the level of the fourth wave of lesser degree, minor wave 4 of intermediate wave (3). We posted at that time that the SKY WAS NOT FALLING to calm the fears of those who were buying into the 19K or even lower projections of others. BTC is in its third primary wave, primary wave [3]. In EW terms, a Cycle is comprised of five primary waves, which are comprised of five intermediate waves, which are comprised of five minor waves. Bitcoin’s first Cycle will conclude once it has traced out its first five primary waves. Primary waves [1],[3] and [5] will advance price upward, while primary waves [2] and [4] will correct previous advances. Once Primary Wave [3] is complete there will be a correction in primary wave [4] followed by another move up in primary wave [5]. Once Cycle Wave 1 is complete, then a major Cycle Wave 2 correction will occur.