$BTC | Elliot Wave Count

٦ يوليو ٢٠٢٤

This is my current Elliot Wave Count, we are starting the 5th wave in my opinion.

٣ أغسطس ٢٠٢٤

ملاحظة

Nice impulse up!

Looks as if we are currently in the 2nd Wave of Macro Wave 5. The 2nd Wave can retrace upwards of 70% of the first impulse. $57,603 is the 0.75.

Invalidation of this idea is a break of the previous month low ($53,458). This would imply that the 4th Wave still hasn't finished printing, and could be targeting deeper discount. I would be looking for a reaction on the 0.62 of the Wave, ($43,475). That's the worst case scenario that still remains bullish.