Bitcoin (BTC) Morning Update: The White W Bottom is in Progress
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SUMMARY
Bitcoin (BTC) has started to climb up again. The short term count shows the higher degree of trend (blue) composed of its subwaves (yellow and white). Currently, blue wave 3 is being worked on and the microwaves (yellow) jives well as its subwaves. Yellow 3 is also labeled with white waves and the current climb could finish it.
Do you recall the white W and the blue W bottom price pathway that was presented a few weeks ago? I believe the white W bottom is in play because a lower low was not achieved!. The double downward wedge on this daily chart is quite bullish. The blue degree of trend waves are actually subwaves to a higher degree wave 3 as shown below.
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Lots a short stops lie above $8,500. When we reach there we should see some firepower.
What is the difference between these two?
Could you look at IOTA again? It has moved a lot since your last post. Apparently a wallet is imminent.
Price reacted to the sellers at $8500.
Lets see if the pattern below is correct, watch the pull back before the buyers take out the sellers.
Thankyou Master Lee! Sending the love all the way from Australia!
Would love to request a chart for Appcoins (APPC) if you get a chance to add it to your list. It is moving up nicely.
Thanks again!
Hoping I'm on the right track. Loving your tutorials too, thankyou!
I hope the bitcoin stays that way and keeps going up.
If it doesn''t rise above 8500, it will drop.
There is strong resistance at $8500. If price fails to rise above it, I wouldn't be surprised if it dips temporarily below the blue line.
A breakout above $8500 would send it close to $9500.
I prefer a continuation of the breakout after another dip below 8000.
You just may be getting your wish.
Yeah, so far so good. Now, I expect it to drop below $7000 by tomorrow.
thank you for your post.^^
Thank you for your insightful analysis :-)
Great post. Loved the way presented. Hope it keeps the trend , and hope big bull turn up comes soon :)