$BTC: Elliott Wave Doesn’t Have to Be Complicated
This type of wave counting is INSANE to me. Traders keep overcomplicating Elliott Wave.
The $BTC chart shows a straightforward 5-3-5 ABC correction. My count focuses on three common Elliott Wave tendencies:
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Both 4th waves are smaller than their respective 2nd waves.
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Wave (B) is the dominant correction within the pattern.
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Wave (C) ends near a common Fibonacci target, roughly equal in length to wave (A).
That’s what I look for: the count that follows the most common tendencies, without forcing unnecessary complexity.
The alternative labeling below is exactly the problem. When a count becomes too subjective to explain or repeat, it loses practical value.
EW 2.0 is designed to make the process mechanical:
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Identify the 4th waves.
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Compare each one with its corresponding 2nd wave.
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Confirm that both 4th waves are smaller.
Elliott Wave has earned a reputation for being overly subjective. My goal with EW 2.0 is to make the process easier to understand, explain and repeat.
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