Bitcoin (BTC) Morning Update: A Healthy Correction is Approaching

SUMMARY

Overnight price action for Bitcoin (BTC) showed a bit of plateau and so the Elliott Waves have been updated to reflected a purple wave 4. The purple waves are the sub waves of blue wave 4 as you can see in the next chart.

This chart shows how the updated waves fit into an unchanged target.

Once and when white wave iii is complete, which wave is next? White wave iv and this means a healthy correction is approaching. Unfortunately, this will also be the point where the innocent and the idiots will panic and sell out.

Bitcoin Cash (BCH) could be workingon a wave 2 as shown by the purple waves. This means wave 3 is next.

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.**