SUMMARY
Overnight, Bitcoin (BTC) rose a bit; but patterns suggest that a bit more of churning might be needed before we see $9k. The below chart shows two upward pointing wedge patterns and so IF this is correct, price can wiggle a bit more and decline in a minor correction prior to rising towards $9k.
The wedges fall well within a larger symmetrical triangle pattern as shown below. IF the red ABCDE fall into place, it would provide an ideal launch pad for next vertical rise. Bear in mind that a triangle can also breakout on the D wave. Thus far, waves A is complete and B is getting its final touches. So, the CDE waves require a bit of forward discernment.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
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wish there was more volume with this move
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ARN plz
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Man I love ARN. I don't hear much fuss about it but I've made HUGE profits on it in the past and I expect the same to play out in the following months.
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Bitcoin looks like its beginning to see a bull run and has started to test new resistance levels we haven't seen in a while. We've had one of the longest bear runs in history which is great for me as it helps me increase my position each month until we hit the next big run :)
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so $25k is possible by the end of the year?
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I think it’s very much possible!
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Churn baby, churn!
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When patience is exhausted it leads to desperation and lashing out, which is something we've seen a lot more of lately. Congrats to everyone who has held out this long.
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I agree.
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If our emotions ran our lives we'd be on a different path 15 times a day.
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Your classiness scores about as high as your reputation score mike.
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Hi Mike! What do you mean? Could you explain?
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Calm down dude ...
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