This rebound has been very choppy, indicative of a Wave IV correction. The next shoe to drop should bring us lower. For Elliott Wave it is very important to understand the difference between Forecasting and Predicting. Elliott Wave is a forecast in the same way that weatherman forecast the weather by looking at past weather patterns to project what the future temperature and weather will occur. A prediction is assumption to know what the future will be based on current trends. Since the markets are always changing and we only get a piece of the puzzle at a time, we should look towards Elliott Wave as a forecast.
News:
Analysts Already Are Calling The Bitcoin Bubble Dead [Ridiculous, considering this is the biggest revolution of money ever and has an adoption rate of less than 5%]:
https://www.zerohedge.com/news/2018-02-03/welcome-bitcoins-trough-disillusionment
