BITCORE (BTX): Is a Breakout Next?

SUMMARY

Bitcore (BTX) daily chart shows a clear markings of a lateral symmetrical triangle labeled with abcde. IF the e wave is complete and does NOT breach the lower bottom line decisively; then the likely next price move is expected to be upward. 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.

The blue line outlines a projected pathway where an impulse set of five waves can be established. I've also added the time line projection as well. The condition is that the lower support line needs to hold and not be breached decisively. It could, however, be temporarily pierced and if so, it would be bullish since a bull wick would identifiable.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.

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?

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