SUMMARY
The video for today's update has been made more instructive on Elliott Wave counts and analysis, please consider viewing it.
The below chart shows the ascending right triangle pattern we left with last night. Price seems to be tracking the c wave of the a,b,c,d,e. The video details how exactly to lable these and the rules associated.
The below is my 3rd level alternate count in that an expanded flat a,b,c correction is in progress. An expanded flat also known as irregular flat is when the b wave rises above the prior peak and the c wave is well below the low of wave a. This chart shows that if this is correct, then BTC could correct towards $15k. But, again this is my level 3 alternate.
Here is my Primary count. I believe the a,b,c expanded flat is complete, as shown in the chart. We should be starting a new impulse towards $26,400. I also detail how analysis can become contaminated when news, events and fundamentals are mixed with Technical Analysis. The video has all the details on the meaning of GIGO: Garbage In, Garbage Out!
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?
Follow me on Twitter for Real Time Alerts!!
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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.**