BTC (BITCOIN) : Analysis Shows a Bullish Breakout in Progress!!
SUMMARY
To this end, I wanted to share some attributes of the September 2017 correction and how it could have some fractal influences to this current recovery. When drawing chart patterns, I do take liberty in cutting out or ignoring some price wicks as you can see, the tallest wick is not considered for the pattern or Elliott Wave counting. A redraw of the correction into a bullish downward symmetrical triangle is quite impressive because of near termination status. It's almost done.
Still, there is a scenario for a one more slightly lower low if price wanted closer proximity to the Apex.
The red ABC waves have been labeled and the subwaves fall well into place. The price neared the upper white line, I had posted a criticaljuncture alert and noted the significance of breaching the upper white trend line.
The red ABC correction is a FLAT with subwaves showing the 3,3,5 in precision.
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Can you please post a chart of USDT too. It already is so long around the $ 1.00 level making a very nice bottom for a cup and handle.
We all know that price make story's and story's don't make prices.
Looking at the Elliot A-B-C-D-E wave, I think we are in wave 3 and that is always the biggest one.
Also Fibonacci is showing great support on the 1.68 level and potentionaly hidding for "The Goldon Zone"