SUMMARY
Bitcoin (BTC) did not complete the proejcted a,b,c,d,e triangle. But rather, price has morphed into a bear flag with a,b,c,d,e waves; as shown in the below chart. My primary count is still for an ensuing correction but have now lowered the target to around $6,600 or so. The circled white waves show the price pathway.
Here is the MACD for Bitcoin daily chart. We need to keep a close eye on this indicator, though it is a lagging indicator. The curvey lines are my projections of how MACD can flow from now to early 2018. The video has tons more details not able to be covered in this summary.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - d2e60e9856c36f34
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66
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.**