Bitcoin (BTC) Morning Update: The White W Bottom is in Progress

SUMMARY

Bitcoin (BTC) has started to climb up again. The short term count shows the higher degree of trend (blue) composed of its subwaves (yellow and white). Currently, blue wave 3 is being worked on and the microwaves (yellow) jives well as its subwaves. Yellow 3 is also labeled with white waves and the current climb could finish it.

Do you recall the white W and the blue W bottom price pathway that was presented a few weeks ago? I believe the white W bottom is in play because a lower low was not achieved!. The double downward wedge on this daily chart is quite bullish. The blue degree of trend waves are actually subwaves to a higher degree wave 3 as shown below.

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
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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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