So after a lot of not much happening, I think we're finally getting ready for the bull run, which in my opinion will be inititated by a close above my thin green box which is around the $11,700 region. We should then push on to test $12k and if we succeed, it's bull market time baby!
So I changed my wave count for BTC, I think I've got a solid count here. Wave 2 retraces .5 of wave 1 and wave 4 retraces right into the golden pocket. However wave 3 is shorter than wave 1, which to me suggests that wave 5 will have to be shorter than wave 3, so my target is based on a 78.6% extension of wave 3 for wave 5.
That make sense?
Hopefully I can validate this wave 5 impulse move with a subwave count once we start to head up later today and the next few days.
If my calculations are correct, Monday 12th could be the official start of the bull market!
I'm not trading BTC yet until I see confirmation of my analysis. If we head up and test $11,700 I'll think about entering a trade.
In this bear market BTC has made me more profit than any other coin from scalping and day trading, so I'm going to continue to focus on Bitcoin's TA as I feel I have a good grasp of what's going on with it.
*EDIT - Here is the line that invalidates my count. Watch for resistance here.
Peace.
-B