SUMMARY
I read a book once that said to get excited when you see a divergence in your stochastics, but a simple trend following method is always smarter. A Masterful statement!
The key to Technical Analysis is to identify the trend and its direction and then follow it. This is why Technical Analysis is nothing more than identifying as many possibilities and selecting the most probable price pathways. A Technical Analyst is a trend hunter.
The below shows one probable outcome where the correction could be complete and we can see a fresh set of impulse waves. However, this is not my primary as it goes against the "Hurry Up & Wait" syndrome. Granted that Bitcoin doesn't have it as bad as the Altcoins, it's still something to consider.
This is more of my primary count. I fits to a zig zag type of a correction. Many newbies would panic to see a correction of this type but a seasoned Technical Analyst is not because to him or her, the forest is clearly visible.
Here is one view of the forest. After the correction of a,b,c; the original trend resumes and that's up.
Here is a bit wider scoped view of the forest. The current correction woudl fit very well to the below price pathway probablity as well. So, let's see what happens in the next few days. Video has more details!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: 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.**