SUMMARY
Bitcoin (BTC) still remains outside and beyond the 2 std dev line. As explained in last evening's update, this level of near break rubber band stretch stage is not sustainable.
Here is the 4 hour chart showing that price has broken below the lower line of the wedge pattern. Price needs to return inside in short order to maintain a bull wick. Price declined to $5,934 on Bistamp and a bounce towards $8k to $9k; the region of area of the mean.
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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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