SUMMARY
Overnight Bitcoin (BTC) price action was quite active in generating higher highs. We're seeing a bit more gusto into this uptrend. I believe wave 3 is nearly done, perhaps already. Though, wave 3 should touch the upper white trend line at around $11,170 or so, as shown in below chart. Then the subsequent wave will be white wave 4 that resides at the bottom of the channel. As long as price stays in the channel, we have an impulse in the works!
It's still likely for price breach the upper white line of the channel as shown below. IF that happens we coudl have white wave 5 reach towards $14k; however, that is pending the breach. Should the breach transpire decisively, then the abc would briefly breach the upper channel line priro to onset of wave 5.
However, even the subwave count of blue wave 5 of 3 shows that five waves are nearly complete; so most likely, price stays within the channel.
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 shoud not be considered financial or investment advice of any kind. One should consult with a financil 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.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
