BTC expecting one final correction before crossing $20,000

Bitcoin is trending in a beautiful ascending triangle with a possible Elliot Wave forming within
Possibly breaking $20,000 key milestone sometime today or tomorrow with sufficient volume
Expecting one final sub-$20,000 correction before moving the next leg up to $23,000 region

Note

Price is still tracking within ascending triangle - pushing wave D back by 6 hourly candles - still on track to retest resistance at ~$20,000

Note

There seems to be a inverse head and shoulder forming in the 4 hourly chart which is tracking very nicely with the our updated Elliot wave projection

Note

The ascending triangle is still in play as we are approaching towards the end of channel - expecting an breakout soon

I have re-adjusted the 2 breakout targets by shifting the measure rule back:
Break-up: $23,434 -> $23,505
Break-down: $15,714 -> $16,468

Note

Elliot wave pattern might not be playing out and we'll know for sure in the next 12 hours. Meanwhile I've refitted the wave to the current trend.

Another scenario that might be playing out in the shorter term (in the next 12 hours) would be this ascending triangle

For both patterns, the breakout prices are pegged to the $23,000 and $16,000 region

Volume are returning to the market after a peaceful weekend - it's likely we see the (massive!) breakout within the next 36 hours

I will be trading this breakout on several conditions
- With sufficient sustained volume
- Resistance turning into support, and vice versa
- Price of control trending 1.5% - 2% away from resistance/support

Trade closed: target reached

TheAlvs

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TheAlvs

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