Bitcoin BTC smaller correction before goal, then larger correction.
Updated wave counts support the current ABC correction that would be in place for wave 4. I know this is not exactly as some other analysts have shown, but that is precisely why you are reading this too.
There is tons of support at $10,440 as the fibonacci retracement from the primary impulse wave, as well as the current wave aligning around here. It follows then, that I don't place wave 4 touching the green line, though that would also offer support and would not invalidate the wave count.
The RSI is showing this as oversold, thanks to the recent sell-off volume.
While the wave patterns continue to evolve, all signs look good to continue the trend of the originally charted pattern I posted 8 days ago:
The thing to look out for is a stronger 5th beyond my H&S targets as everyone finally gets excited about some higher highs!
Healthy trading and profitable investments,
The Freedom to Be
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If you profit from this idea and would like to keep the charts coming, wallets are below:
BTC: 13mG7EsCBB3wK2pQnV4zXqXUXmnVtCbmS6
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ETH: 0x800fe4a5a75af9034f4982c04bdd4b557dca0f3f
BCC/BCH: 1QmchfEizCkLLweNySkAJmBCJ6zEtfkBB
Current price hovering around $10k now breaking support volume of 10440.
Still holding, to $8,364 which will confirm the alternate count if it breaks.
Yes, there was some FUD today that increased selling 20x and pushed us down. Look for support around $9,500 low 2/25, with opportunity to buy in at $8,200, then $7,350 if it does break below the projected wave 1.
Currently, overall pattern has not been invalidated, though I have been referencing a larger correction once wave 5 completes. My count did not have that happen yet, but there is a count that supports that where we are undergoing a 3-3-5 correction.
For now, I'm HODL'ing for my current wave count, and to see the jump that usually follows a sell off. MACD is stretched to the max on the one hour chart, and RSI has us as way oversold, which has resulted in a jump each time: