General tone. Indecisive Elliot Wave Count. I do not believe this is the end of correction
We hit a critical resistance. There are two counts of EW which of concern. We have not reached even 382 fib retracement, which would imply that if this is an uptrend, this would be an incredibly bullish market.
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week) - Neutral
Short Term Bias (Today) - Neutral
Long Term Target Prediction - Primary Wave 3, $35,000+ by 2019
Long Term Target Prediction - Primary Wave 5, $50,000+ by 2020
I would firstly like to state the rules of alternation, which summarized implies that corrective wave 2 and 4 have a difference in expression. Simply put,
- If Wave 3 retraces little we can expect wave 4 to retrace more.
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