As expected, we began our move down to the 8,500-9000 area with authority. I suspect we're nearing the end of subwave 1 down, correct up in 2 and then violent 3rd wave down.
All the comments below are excellent. Very astute Elliot technicians!
Excellent point, wave 3 just can't be the shortest, and 5 is sometimes longest. Very good clarification.
Interestingly wave 3 can be short in an ending diagonal, but that is EXTREMELY bearish! However, typically 3rd wave is longest with 5 defined fractal sub-waves. The typical projection for wave 3 is 100% to 161.8% of wave 1. It's an impulse so it explodes, it doesn't dilly dally around like above.
AstonMartin: Yes the 3rd wave rule applies to crypto. Elliott applies to all tradable assets. Crypto, gold, stocks, bonds, forex, real estate, etc. It applies to everything that is traded by human beings because i models human emotion. Emotion drives 90% of price action IMO so as long as humans are trading it, their emotion is driving its price.
Here's the my primary count. Feel free to rip it apart. :)
You have proved to be incredibly accurate with your TA. Maybe you should spend more time studying TA and less time running haegin who actually knows how to do it down.