The count is still the same as yesterday, but green wave 4 seems to be done. Green wave 5 can be extended, but it does not have to be.

I prefer an extended 5th, because it will be a better buying opportunity for big money investors, and it will kick out more of the weak hands who entered BTC above 7500$ and thought it would go to 10k without any detour...

A fib target of 162% of wave a would be 6130$, but this is so close to the 6000$ level, that I think it will be retested.

Wave 1 is shorter than wave 3, which means with wave 1 being the shortest, wave 5 could be a panic selloff without violating any Elliot Wave rule. It does not have to be this way though. We will find out soon.

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DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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