SUMMARY
LEND/BTC completed a classic five wave impulse up with the 5th wave extended. What does this mean? Whenever, wave 5 is extended, you turn and take your profits and don't walk but run! The next bull run up could and most likely will be the same with a near vertical rise and an extended 5th. The subsequent correction has thus far been quite deep.
The WXYXZ seems nearly donw. While price can have further and extended sideways action; the subwaves show that the final Z wave's subwaves red ABC are nearly placed. The five waves of red wave C has well initiated with waves 1 and 2 complete. The remaining 3,4,5 are expected to generate a lower low but probably not in a crash scenario. The decline is likely to continue in a methodical and incremental steps.
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Elliott Wave Counting Tutorial #1
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