SUMMARY
Note: Video has more details!
Overnight price action for Bitcoin (BTC) has delivered a decisive breach of the Neck Line of the Head & Shoulders Bottom pattern. The pattern is now confirmed and complete. So what's next?
Belos is how the subwaves of white wave iii could play out. Video contains exactly how the wave price heights were determined. This means that BTC is in wave 3 of 3 which is often the most extended and moves most violently. The target for this wave 3 of 3 (purple) is $12,457 or so.
The current breakout could rise high however, the nature in form and fit of that rise needs to be observed keenly. IF it looks very three wavish, the broader ABC could play out.
However, IF the rise if very impulsive looking, then the broader ABC could be de-emphasized and likely all time new highs would follow.
Legal Disclaimer: 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?
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