SUMMARY
A breakout is very likely and the purple Elliott Waves project an impulse rise to 123213 Satoshi for wave 5. This would be a 11280% profit potential. Will this happen overnight? No, it'll happen in a five wave impulse. The future price pathway projection shows primary to be the blue Elliott Waves with a target of 2,254 Satoshi. The price neared the upper white line, I had posted a criticaljuncture alert and noted the significance of breaching the upper white trend line.
Even into this upward wedge; the seller repletion just was not enough to fulfill the wedge price travel guidance.
This type of wedge has bearish implications and usually the gudiance is that price can fall below the starting point. The red ABC waves have been labeled and the subwaves fall well into place.
The blue arrow shows how any good Technical Analyst might call it a bounce awaiting a lower low. But even at this early stage of the bounce, not enough sellers were populated so that price had to go up.
Legal Disclaimer: This post is for general information only. No information, forward looking statements, or estimations presented herein represent any final determination on investment performance. While the information presented in this post has been researched and is thought to be reasonable and accurate, I cannot and do not guarantee any rate of return or investment timeline based on the information presented herein.