Bitcoin (BTC) Morning Update: Fractals within Fractals!

SUMMARY

I'll present the two alternate counts first and then the primary. Overnight, Bitcoin (BTC) price action has put in the full impulse motive of five waves up as shown. This would call for an abc correction as shown in the below chart.

Now, the second ipulse motive (blue) can allow price to reach the top of the blue trend line and likely even another downward wedge as the last harrah attempt by the sellers to kill Bitcoin.

However, note the fractals within the larger fractal. The upward pointing wedges, yellow, blue and the current white. The white arrow shows a potential price pathway. Note also how the depth of decline for each upward pointing wedge declined significantly from teh yellow to the blue and for the white, it'll likely be minimal at best. The MACD could also decline a bit to enable what could be one final dip prior to a sizable breakout. Now, bear in mind that price is quite close to the apex already and the breakout can take place at any time.

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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