Bitcoin (BTC) Morning Update: Fractal #3 is Spotted!! Check out the this chart!
Bitcoin (BTC) overnight price action seems to be completing a third fractal bull flag as shown below. Note the similarity to prior two flags. So, if Fractal #3 is about 2.5x the size of the second fractal; then we can potentially measure the price rise by extending Fractal #2s rise by 2.5. The chart below shows that with the green vertical lines. Not surprisingly, that coincides pretty well with the $20,467 level and I think if that's correct, it'll be an awesome event! I have to say that Cryptos are truly showing price patterns that are the truest reflection of sentiment. Unlike the stock market where excessive manipulations can bend or stretch the waves; not so in cryptos. No PPT or banks here to front run the everyday investors!
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 Disclaimer: 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.**