SUMMARY
Bitcoin (BTC) looks to have pierced the support line and got right back inside! This is called a bullish piercing. It's the way Bitcoin gets rid of weak hands, the uninformed, the ones who shoot from the hips, the ones who buy/sell only on gut feeling and never ladder. We, however, expected this bullish piercing as a probable scenario. We also took precautionary stops at levels below $5,000. These stops should be maintained.
The chart shows a forward discernment for the Elliott Waves. We should start seeing an impulse of five waves (white circled, 1,2,3,,4,5). These should take price out and above the upper white resistance line. These white five waves also become subwaves to blue wave (i) The remainder of blue waves are also placed to ultimately hit $7,200 or so.
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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.**