Bitcoin (BTC) Mid-Day Update: DECISIVELY BREACH THAT UPPER TREND LINE!!
Each time a resistance is hit, it becomes weaker. Bitcoin (BTC) is being like a battering ram to that upper trend line resistance. Price is currently sitting on the trend line and now mojo needs to be summoned by the bulls to lift off nad rise above it and the key is to STAY ABOVE. Re-Entry would not be ideal.
I've raised the blue wave 3 to 3.618 of wave 1 as if the this is 3 of 3; then such extension would be zero problem to hit. This makes wave 3 target at $11,011 and wave 5 at $11,133. Following these five waves, will there be a correction? Yes, to a minor degree. Would I be selling and buying in and out of these corrections of such small degree of trends? I don't day trade.
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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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?