Overnight price action for Bitcoin (BTC) shows that purple wave 1 is most likely in and so an a,b,c retracement must occur. The below chart shows the modified labels. The $23k target remains and once the purple wave 3 is initiated, we should see very aggressive up moves since wave 3s are always full vigor.
In the video, I also discuss how Plato's allegory of the cave has uncanny similarity to Technical Analysts who co-mingle news, events and fundamentals with price analysis. The reason why they are not able to depart away from their old ways of habits and beliefs is rooted in the meaning of the Allegory of the cave. To get full details, please see the video!
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?
Follow me on Twitter for Real Time Alerts!!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
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.**