RDD: Mid-Day Update: Short & Longer Term Perspectives
SUMMARY
One reason why triangles are quite common because it allows the price to become time pacman. Given how hard the sellers tried to beat down Bitcoin; they had depleted all their bullets. The red ABC correction is a FLAT with subwaves showing the 3,3,5 in precision.
The future price pathway projection shows primary to be the blue Elliott Waves with a target of 2,254 Satoshi.
The past is no guarantee of future performance, fractal impacts do linger. A breakout is very likely and the purple Elliott Waves project an impulse rise to 123213 Satoshi for wave 5. This would be a 11280% profit potential. Will this happen overnight? No, it'll happen in a five wave impulse.
The horizontal blue lines show the presence of good support and the upper white trend line now also represents strong support.
Legal Disclaimer: This post is for general information only. No information, forward looking statements, or estimations presented herein represent any final determination on investment performance. While the information presented in this post has been researched and is thought to be reasonable and accurate, I cannot and do not guarantee any rate of return or investment timeline based on the information presented herein.
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