SUMMARY
Bitcoin (BTC) overnight price action was indicative of a rise towards the d wave of the a,b,c,d,e correction. The below chart shows my price projections...yes, bullish! The $26k and $30k targets remain solid.
I'm still keeping an eye on the a,b,c (bear flag) alternate and the key is, as stated in prior blogs, that if price reaches around $18,300 or so and reverses, then we might have a different story. However, again, this is my alternat and NOT my primary count.
Here is the other concept that I find very interesting. Note how price touched the top line of this Jaws of Wealth three times and price also touched the bottom line three times. This is a type of fractal on behavior and not pattern and it's also quite accurate. To that end, this Jaws of Wealth also jives well with the primary a,b,c,d,e triangle pathway. It's important that BTC starts putting in higher highs! Let's see what happens in the coming days.
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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