
SUMMARY
Bitcoin (BTC) was shown as potentially putting in an impulse as shown in below chart. It would allow price to breach the upper blue line and initiate a trend reversal. However, if you've been following my posts, this had not been my primary count because a trend reversal so far from the Apex of the blue triangle wasn't ideal.

Besides, the current price formation itself looks like an upward pointing wedge which bodes lower low probabilities. The red abcde waves are all complete except the e. This could lead to a temporary breach of the upper blue line but not a decisive.

From a larger picture perspective, the Waves and Pattern is tending towards the blue e wave being a lower low in the range of $7,600 to $7,250 or so.

The logarithmic chart is little changed. It holds the $7,622 or so as the point where the first longer term trend support line resides. The downward wedge's apex also resides at the support line. It'll be interesting to see how price action plays out overnight, should this longer term support line be touched.

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.
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