Bitcoin (BTC) Mid-Day Update: H&S Neck Line Breached

SUMMARY

At today's low of $9,397; price has breached the Neck Line of the Head & Shoulders Top pattern. The ABC correction is in progress and the subwaves of A are all in place with B as well (white abc). This means that the 1,2,3,4,5 subwaves of the C wave are next (white).
).

I"ve also outlined the abcde waves of a declining wedge. This pattern has viability and is competing with the above abc zigzag corrective count. IF a,b,c waves are done then e and d could help resolve as to which pattern Bitcoin will select. More to come in tonight's evening update.

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?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--

H2
H3
H4
3 columns
2 columns
1 column
65 Comments