BTC continues the upmove which means my wave b count was obviously wrong. No biggie, it happens.
For my next count update, I want to see more price data first, because there are a few things possible right now.
But I don't want to leave you hanging without a chart today. haejin posted a superb chart for forward discernment today, which I want to talk about. It shows several nested iSHS patterns. The necklines are right at the strong resistance levels which increases probability of this chart pattern unfolding.
This is my version of his chart pattern idea:
And here is @haejin version of this chart, which inspired me to make this post:
I really think this could be happening. The target would be 28,000$ BTC... Stay tuned...
If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
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Have a nice day :-)