SUMMARY
MONA is just about done with a downward pointing wedge pattern and this is bullish! Yes, I am aware of the permabears screaming for Bitcoin (BTC) to fall and obey their wishes for $6,00 to $8,000; however, Sentiment commands the price and permabears consistently forget. IF price breaks out of this wedge pattern, then the first target should be $18.53 or so. While not exact, the first triangle could be seen as a fractal to the current.
This chart shows the bigger picture as to how this bullish wedge fits into the higher degree of trends...not time, but degree of trend in price. I don't try and project time because it's not a reflection of sentiment. While price certainly interacts with time, trying to project both with the same techniques only causes accuracy to suffer.
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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