[fredgrott]

Its interesting how many people misunderstand Elliot Wave models or whats behind Price movements....

If you examine Metcalfe-Lee's formula for bitcoin valuation you will find that to predict price swings one has to track both:

Transaction volume and number of accounts involved in transactions

with those two pieces of info you can predict whether a starting wave is Speculative or consolidated, etc.

will put up a Medium article on Monday showing the ratio tools I came up with