hey, thanks for your last input. I just have another question. In case the first scenario happens (price takes off at C), then how is this pattern not a descending triangle. I know you said it can't occur in a 2nd wave, but to me it looks indistinguishable from a triangle- it even follows the abc zigzag perfectly. thanks :)
It could still become a descending triangle if the price of BTC does not go below W (W would then be wave a of the triangle).
But a wave 4 is very unlikely so I am not even considering the triangle as I am expecting wave 2 correction.
It is already going on for 3 months and fits perfectly with a 50% correction of wave 2. As already mentioned the difference in price and time between waves 2 and 4 makes this very unlikely a wave 4.
As an Elliottician you should always consider the highly probable counts first and only go to unlikely ones if necessary. This way you are correct a lot more often which is what you and your followers want.
great, thanks for the input!