SUMMARY
Bitcoin (BTC) has thus far traveresed a correction that can be labeled as abcde (red). IF the purple wave i and ii are complete, then a renewed uptrend is expected.
The correction has retraced a bit more than the 0.382 Fib zone; there is a chance for 0.618; but given the abcde waves; 0.382 is highly acceptable.
The bull flag is very noticeable! The two white parallel lines encase the abcde red corrective waves and since wave e seems complete, a new set of impulse subwaves for purple iii should be starting, if not already. The white waves provide the bullish pathway towards $12,306 or so.
This direction would certainly complete and confirm the Right Shoulder of the Inverted H&S.
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