SUMMARY
Bitcoin (BTC) overnight price action updated the position of the c wave of a,b,c. The correction is clearly executing the "Hurry Up & Wait" syndrome. The green horizontal bars show the difference in time with regards to how long it takes to place the impulse waves vs the correction. The green bar for the correction is about 1.618 of the impulse time. My primary count is still higher highs.
A probable pattern is the Cup & Handle as shown below. Now, this pattern is not as common for Bitcoin as it is for the altcoins which show it at every opportunity. This difference is due to sentiment segmentation. It's similar to preferences. In a group of 100,000 people, 40% might like icecream more than chocolate. This segementation of sentiment can be reflected in the sales of ice cream vs chocolate. The same is happening with chart pattern preferences.
The below chart shows a Head & Shoulder bottom pattern which price could morph into. If so, the minimum price run is $19,108.
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.**