SUMMARY
Note: Tons more details in the video analysis!
Bitcoin (BTC) price action is looking very healthy. Yesterday, I had posted the below chart as a projection:
This morning, price has adhered to the projection quite well. Not too shabby.
Because of passage of time and new price data, I've slightly updated the Elliott Waves. IF wave 3 (circled white) is in progress, we can expect to see some serious, near vertical type of price moves.
The Inverted Head & Shoulders (IHS) is now complete! Price has also just breached and poked above the Neckline! This pattern is nearly confirmed and if that breach becomes decisive then the IHS is in full effect. So, very exciting days are ahead of us!!
Awareness Count: IF I had to be bearish, it would be as shown in the below chart. This is NOT my primary count. It's my awareness count which I rarely post given the confusion it arises. I've often said that awareness keeps the panic away. That means that awareness also keeps the broadside shocks away as well. Being fully aware of alternate scenarios allows one to know what to do should such events transpire. Yes, I know that cynics and the uninformed will call this wishy washy...but the informed see it at a higher level.
The awareness count shows a potential abc (white) retracement. The small upward pointing wedge is something to look out for in that it could lead to the red (b) or a larger degree of decline.
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.
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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