SUMMARY
Note: The Haters and Downvoters are trying to kill six day old blogs to kill all credit! How sneaky!!
Bitcoin (BTC) overnight price action shows a corrective pathway that seems to have completed wave 3 of C or close to it. Following blue wave 3, wave 4 should be next with a bounce. One aspect that has nagged me is that the Head & Shoulders is not confirmed by volume. The volume of the Head should be highest but it's lowest as shown below. So, technically, it's not a H&S Top.
I've updated my Elliott Wave corrective count to show an Expanded A,B,C correction. Observe how three wavish the red A and B waves seem. These are labeled with their subwaves in white a,b,c. Note also how red wave B is higher than the start of A; this is the sign of an expanded flat and cryptos love this pattern. That means, from red B wave down would be C wave and it has five subwaves which are shown in blue. Therefore, this is now my primary count.
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.**