SUMMARY
I've consistenly said that awareness is key. A decision maker desires mostly to gain as much awareness of probabilities to make the best informed decision possible. This has been the norm for every trader and investor and it's called augmenting his or her own due diligence.
Earlier I wrote how important it would be for BTC price to start impulsing in five waves after it came back inside the triangle, following the brief piercing of the bottom triangle support line. I also noted that price proximity is still a bit too far from the Apex and so a bottom could be a bit too early to call.
The question is what if price decisively breaches it? The below chart shows the same wedge pattern but more extended. The labels would be updated as a zig zag abc correction. The final five subwaves could extend towards $3,857. The below chart shows an updated count of a simple abc wave count with the subwaves of wave c. This is not my current primary count, but in the event that the lower line is breached; this updated alternate scenario could be helpful. Should this occur, I shall provide frequent updates. There are other alternates but will leave to this for now.
Legal Disclaimer: 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?
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