From February to May we had a local 3, within the second leg up of THE B wave, that was suppressed and lower than the 1, because of lack of fiat on Chinese exchanges.
And now we are experiencing the local 5, approaching the top of the "fools' rally". By this count, we might top in 4 - 5 days, around 900$ - 1000$.
I didn't get it?? chart?
this is not in accordance with the rule of non-overlap, those are uncorrect waves
It actually breaks 2 of 3 rules. 3 is also the shortest among not even making a hh above the 1. Come on tzupy, I know you can do better than that
First of all, I mentioned this sounds crazy. But bitcoin has raped the EW rules worse than that in August 2015, leading you (and me) to the wrong conclusions.
Back then the 4 not only went into 1 territory, it was lower than the 2, and this without counting the long squeeze, with that it went lower than the start of 1.
My opinion is that bitcoin performs the waves in different manners, depending on the available demand, and it would have taken only 10% lower prices
for the December rebound to fit within the rules (430$ instead of 475$).
I believe the correct reading here is that 2 is where you have labeled 4. What you have as 2 and 3 are just part of a long consolidation period. Viewed in that light, the rules are preserved. 3 should be an impulse wave and your 3 doesn't come close to meeting that on price movement or volume.
Don't try to fit the rules into your interpretation. Try to fit your interpretation to the rules.