SUMMARY
This is a short term, tentative, micro-Elliott Wave count. The strong bounce from the $7,621 low moved up impulsively, as shown by the white waves. The a,b,c is now in progress and the five subwaves of the c wave is marked. IF the c wave is or about to complete; then BTC needs to initiate another impulse upwards. The c wave tagged near precisely the 0.618 retracement level. This new impulse upwards would be a higher degree wave 3. So, IF this is to be the onset of a reversal, overnight price needs to show higher highs. The lower white support line also needs to hold.
Legal Disclaimer: 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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