SUMMARY
Bitcoin (BTC) overnight price action could have completed white wave iv of C. Purple wave i and ii of white v of C could be complete. If so, the next wave should be purple wave iii of white v. This means a potential still for one more lower low to finish the correction. This could wash out the last of and weakest hands and so give the bulls the mojo build up to climb as high as $70,000.
How do I get $70,000 target? Fractal #1 carried prices from $5k to$20k so that's $15k. Fractal #2 is 4x Fractal #1; so a target of $70k is estimated.
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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Legal Mumbo Jumbo: 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.**