BITCOIN a low risk shorting opportunity (Expanded Flat Correction : Elliott Wave Analysis) 18th October 2017 onwards

In my last report I suggested longs when Bitcoin was trading around 3757, after which it went up to achieve all the suggested targets and made a high near 5870.
The leg up from the 2970 low seems to be a 3 legged move up for Wave B (Red) of an A-B-C Expanded Flat correction.

Expanded Flat Correction in Bitcoin, expect fall in prices

Expanded Flat Correction in Bitcoin, expect fall in prices

Which means that if this analysis is correct then we are currently in Wave C down of this Flat correction which can take Bitcoin down to the levels of :

Target 1 : 4671
Target 2 : 3899
Target 3 : 2665

SL : Above 5880

If the Invalidation level of 5880 is hit then this count will be invalidated.
It is also worth noting that Wave B = 138.2*Wave A which gives further confidence to this setup.

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