Bitcoin (BTC) Evening Update: ABCDE Nearly Complete

SUMMARY

Yesterday morning, the below chart of Bitcoin (BTC) was posted. It shows how the symmetrical triangle was progressing and that red waves A,B and C were complete. That left waves D and E remaining with the potential of a breakout occurring at wave D stage.

Currently, wave D could be nearing completion as shown in the below chart. Could there still be a wave D stage breakout as shown by the white arrow? Yes; but I believe the E wave will be the next part of sequence. IF so, this would complete the ABCDE symmetrical triangle structure. Price is then expected to breakout as it would also be proximal to the apex. Note how the volume is still declining and with the price breakout, it should as well (blue) arrow. So, overnight price action is likely to be down and complete the E wave. Perhaps, a morning surprise of a massive breakout could be seen.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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