I’ve been reflecting on the wave count for #Bitcoin’s Primary wave ⑤ recently. As the chain of quoted posts shows, there are several ways to view 2024’s correction as Intermediate wave (4), but wave (5) seems a bit off based on this year’s price action. Then I recalled @CredibleCrypto has often noted that the move from $24.8k (June 2023) was a clear impulse, and since the price didn't fall below that low, it remains valid.
Considering this, there’s a wave count that makes Intermediate wave (5) look more consistent, as shown in the attached chart. One concern is that 2024 Minor wave 4 is longer and slightly deeper than its higher-degree counterpart, Intermediate wave (4), but, while this isn’t ideal, it’s still allowed under the Elliott Wave Principle.
In the end, no matter the wave count, they all share one thing: three waves remain to complete this Cycle, and we’re now entering the first of them.
$BTC
twitter.com/TraderJBx/status/1...
