Bitcoin (BTC) Morning Update: White W Bottom Still in Progress
Overnight price action for Bitcoin (BTC) could have completed wave 5 of yellow (3). IF this is the case, then a minor correction is in progress. Be aware of a potential Head & Shoulders pattern (blue arrow for RS). This could jive well with the minor correction for yellow wave 4.
The longer term perspective of the white W bottom process is still wel intact. The waves and lables have been shifted slightly to the right given the passage of time. These lables are not meant to provide exactness but landmarks and guides.
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
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?