SUMMARY
Bitcoin (BTC) has thus far completed and now confirmed the blue downward wedge pattern. The ABC is complete as well as the five subewaves of the final C. Price has decisively breached the upper blue line and has started impulsing upwards. This could be a good, early sign of a trend reversal.
Longer term perspective is always most valuable. The wave 1 and 2 are still quite valid. Of significance, note the MACD where once the 12 day moving average line (white) solidly crossess the 26 day moving average (red); then a buy signal would be generated. Let's see how the next few hours carry the price in this early reversal stage.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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