BTC Correction Possibly Complete

in #bitcoin7 years ago

Good morning to everyone that is and will be reading this. I have been trying my hand at chart pattern recognition, as well as Elliott Wave counting, and am still an extreme novice. I figured since everyone under the sun in the crypto field has thrown some form of correction scenario out there, I figured I mine as well do so myself and see if it sticks. I am very new at this and may have this all wrong, but from the chart that will be below I see this correction as ended and now on it's way up to ATH. I have the correction already completing a 78% retracement of of wave 5 for the end of the correction. If this is true then we will need it to break the support line in the roughly 14-13k range depending on if this more upward and sideways path keeps moving forward. The chart will show the classic 5 waves up with an ABC correction that formed into a very nice bull flag scenario. I welcome and would like any feedback from the ones that are and have been doing this sort of charting and counting way longer than I have.

Take of this as you please and do your own research, but I, for one, believe this correction is possibly over. Only time will tell. As always this is not financial advice and should not be construed as such. Just informative for everyone. Hopefully this chart will help to quell some fears that some are having.

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