The good news is that this different count makes sense and that also it still leaves the possibility of the original A_B_C correction as we expected, with C being under $3000.
The green vertical line is the date that as far as I understood was what Sheba Jafari said the correction should last at the least to (very iffy, might be wrong to either side).
So with the problems with the wave counts - afaik there is no possible 3-5-smth correction. And our A wave is clearly a 3 wave (unless the "news-shockwave" pattern invalidates the waves count), and this B wave has 3 problems: 1) wave 4 is very very close to the wave 1, which is undesirable, 2) the time it takes to make waves 1-3 = time it takes from end of wave 3 to end of wave 5, which is not respected in this case 3) wave 3 and 4 are very small compared to massive waves 1 and 2, which is also making it kind of questionable.
So, if we think of this B wave as a 3 wave, we get a bunch of stuff resolved, particularly - we avoid all those small nuances that I just stated above that make this a questionable impulse wave, next we avoid having a 3-5-x correction, which makes no sense, we uphold the major A-B-C correction.
In case this correction happens to be a type, we will see C wave going lower than A wave end and the most likely targets are indicated on the graph. 2400s being my most likely C end, but 1800s are also on the bench.
In case we get some bullshit type of correction as a flat (which so far it looks to be), C will still be lower than A, but just slightly, thus making the target around 2800s.
In case we get some triangle correction, I probably won't be able to figure out the end of wave C, but then it wouldn't have to be lower than A wave.
what is the most interesting part is that it's another Elliot Waves champion, son of Robert Prechter, but his wave count differs from Goldman Sachs' Sheba Jafari's count.
Coinbase adding instant purchase: https://twitter.com/coinbase/status/9185...
Gemini distributing BCH to their users (which they likely will dump into BTC), that happened yesterday.
I am not sure if my count is correct anymore. The only 1 positive thing I can say is that most traders that DO follow this market, have already bought BTC, the buying pressure will likely to dry up soon. However, this is crypto an it burned many shorters before and burned me this time.
The point where 5 ends is the end of the wave 3 of the higher order.
1) a big retracement for wave 1 (but not more than 100%)
2) the "connect wave 2 and wave 4 with a line and draw a parallel line to it starting from the wave 3 top or wave 1 top (in our case 3), and that's where wave 5 will terminate.
3) Wave 4 not retracing into wave 1 territory
4) wave 3 being the longest one
5) wave 5 being weaker, with some divergences (slight divergence in volume, some RSI divergence
Keep in mind, there are people who dedicated decades to this craft, they may see some mistakes here, I have just took up EWs last month, so I may be wrong. But this is correct to my best knowledge. Also, when we had this wave 3, Sheba Jafari was also labeling it as wave 3. So I also can appeal to her count :)