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RE: Bitcoin (BTC) Morning Update: An ABC ZigZag
How about the simplest answer is the most likely explanation? This recent 6000-9000$ run-up might be a wave 4 of an impulse. It fits a clasic 5-3-5 zig-zag pattern. you also don't need to strech the wedge at all to fit the pattern and it is way closer to the apex (given timelaps and the fact that corrections are slower, it's right on the apex) , MACD also seems to confirm it. You keep beeing bulish al thru this correction, already called 2-3 times a possible bottom . At one point you are going to be right but it might be usefull to show your audiance an alternative view. It never hurts.
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Your wave 2 is too low and needs to be higher. IF so, you'll also be able to count the remaining 3,4,5.
Wave 2 is lower, i just didn't bother to count it precisley that far in the past..png)
Ps: don't take it the wrong way i apreciate your work and look forward to it, even when it's wrong (and most of the time it's right) it still gives me a different usefull perspective.
He has in past videos just a few days ago and said we may have another low...but for now the primary count is up until proven otherwise :-)
Look at the price action so far, it's why you nead to offer alternative reads.