SUMMARY
Here is the chart showing that Bitcoin is at a Critical Juncture!! Today's high was around $11,859; not too far from $12k. BTC needs to decisively BREACH the upper purple trend line to sustain the bull case!! How price reacts will be very important.
From a Bullish Scenario:
I've moved the micro waves up higher with the wave iv being next. This is the bullish case and would mean that the critical juncture would have passed by IF the higher wave V target is hit at $13,103. However, the lower bottom white line of the parallel trend has to hold; though, a brief bull wick would be favorable. AGAIN, the bottom white trend line needs to hold!
IF price only declines to complete the Right Shoulder (RS) of the inverted Head & Shoulder pattern which my blog post had shown for several days; it would also be ideal! Let's see how the overnight price action goes.
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.
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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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