SUMMARY

Bitcoin (BTC) hit the $9k target as projected in yesterday's post and that completed the wave 3 (white) of the five impulse sequence. The blue waves are the subwaves of the white wave 3 and seem complete. Recall that waves 1,3,5 always have five subwaves as they are the actionary type. Waves 2 and 4 are reactionary and have 34 possibilities in corrective sequence. We could try and use the rule of alternation between 2 and 4 but Cryptos don't adhere to that very well. So, let's see how wave 4 pans out; but it'll likely be a minor correction as wave 4s never retrace deeply because it can't overlap with the peak of wave 1.

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?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--