Bitcoin (BTC) Morning Update: Another Attempt at $10k Incoming

SUMMARY

Note: For anyone who missed the BitcoinLive Information Webinar, here is the replay link: https://youtu.be/No4frLOz3UE

As of June 4th, ALL Crypto Analysis will be posted on the BitcoinLive channel and Steemit will be dedicated for Equity, Commodity and Option Analysis. To Signup for the BitcoinLive limited Founding Membership slots, use this link: https://get.bitcoin.live/haejin/

__

I'm getting excited about the Bitcoin (BTC) price action. The below chart shows that the correction could be complete. The blue ABC labels were quite close to my original call. Price did extend to 0.618 Fib level and extended a bit more by a price wick below it. The subwaves of blue C show that five waves are in and placed and complete. What do we need to see next?

The confirmation of the bottom of this minor correction needs to be an impulse up in fives (white). I believe this process has onset since white wave 1 is already well underway.

Now here is the longer term chart. It's a fractal of the shorter term or vice versa. Do you see it? This longer term chart ALSO has a five wave up and has been correcting in a downward wedge pattern; very similar to the shorter term chart shown earlier. Note that purple wave 1 is complete and if the correction for purple wave 2 is correct; then purple wave 3 is next...this is why I'm a bit excited. I believe once the purple impulse completes, another attempt to overtake $10k level will be made.

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!!
--
--