Bitcoin (BTC) price action during the day pinned higher and newer all time highs! I've updated the Elliott Waves to show how wave iii can complete at or around $9,400 to $9,600 or so.
The below shows a very ominous looking bearish wedge and a possible a,b,c correction that could knock down Bitcoin by 42%! It's something to keep an eye one.
I now detail out the wedge fractals that occurred prior and how each declined to the start of the wedge. Now view the third fractal. I've MOVED the wedge a step down. Compare this with the chart above. This means that the third fractal has already executed with the recent expanded flat correction. And BTC price now is continuing up with minor, healtjy corrections. This is a significant distinction and a sizable departure away from what many analysts are now calling...a top. I disagree.
Based on the below chart, BTC is in a bullish uptrend and has already pierced through the upper channel trend line. If this Elliott wave count is correct, the blue wave 3 will trumpet the arrival of $10k followed by a healthy correction and then to $13k and then higher towards $15k or so.
The video has TONS more details and ties in everything much better. Please consider viewing it.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: 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.**