BTCUSD Waterfall? - Market Analysis for Aug 6th, 2018

I felt this was important enough to put on notification.

One of the questions on my mind is whether this is 5 of our large C wave diagonal or, just C of iii. The former is in red. The way we continue to drift and extend, does give me some hope this is an A wave in red. So, I will be watching for a three wave move. Note also, based on previous BTC fractals, it is very common to get a waterfall in the last leg of a diagonal. To me that will not be long term bearish, but rather further the cause that this is wave 5 in the diagonal can bring in a bottom. Really such a capitulation is so needed. It might be a good idea just to gird your emotions for a serious waterfall even to $3000's. I can't say for sure it would happen but if it does, I will be excited and BUY ALL DA BITCOIN. Such waterfalls are where sharks play. 

BTCUSD - More Complex - Aug-06 0957 AM (6 hour)
BTCUSD - More Complex - Aug-06 0957 AM (6 hour)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.