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Bitcoin & Monero Elliott Wave Analysis: Creating a Wave 3 of Lesser Degree

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Bitcoin has completed an ABC pattern of an Elliott Wave structure. After this completion, it created a Wave 1 and 2 of lesser degree. Now, it seems Wave 2 has ended and is starting to develop Wave 3.


We can observe that the end of the corrective wave C ended on July 17 at $9,071 low. From there the price made a Wave 1 leg on five sub-waves, wich ended at $11,112. Then it began a slower wave 2 which ended at $9,108 on July 28. From there, it has slowly created the current wave 3. If this wave count is right, the potential target should move above $11,000.

Interestingly, other altcoins show a similar structure. below, Monereo (XMR) Chart



On the Monero case, the potential target for wave 3 should go above $90.

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