SUMMARY
Bitcoin (BTC) overnight price action has decided to say that it had already finished the a,b,c minor correction and so rose to generate a higher high. I have updated the Elliott Waves to reflect this and so the white circled wave 2 is positioned under the red wave c.
Fractals are playing a very important role for ALL cryptos. What is a fractal? It's sets of patterns that are very similar but not identical. Preceding fractals can be used to delineate, often proportionally, the future price pathway impact later fractals might. To this end, I've identified two flag fractals as shown below. If the vertical line of the first fractal represents the price move impact it had; then since the second fractal is about equal in size and duration; the same degree of price move can be projected; within approximation. That places the next milestone, but short term, target at $17,198 or so.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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