<center>![](https://steemitimages.com/DQmVRmBpJR6tJhqrfmyGhDrVMnzfTBGR1u52FSa6pgwe6AQ/image.png)</center>
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**SUMMARY**

Bitcoin (BTC) has thus far traveresed a correction that can be labeled as abcde (red). IF the purple wave i and ii are complete, then a renewed uptrend is expected.

![](https://steemitimages.com/DQmd8BAmSWvSFdNQ5pcUdKasynkn9xyMXb7WXTmy7JRvHxR/image.png)

The correction has retraced a bit more than the 0.382 Fib zone; there is a chance for 0.618; but given the abcde waves; 0.382 is highly acceptable. 
![](https://steemitimages.com/DQmcUBMTU61nLgdPoYoC2KaiXTPyPcagYEDp9kE6dQAGqjT/image.png)

The bull flag is very noticeable! The two white parallel lines encase the abcde red corrective waves and since wave e seems complete, a new set of impulse subwaves for purple iii should be starting, if not already. The white waves provide the bullish pathway towards $12,306 or so.
![](https://steemitimages.com/DQmQnPQShxeV9XBah329cxzna42dwiBTfj5jd8pmhkrzzsj/image.png)

This direction would certainly complete and confirm the Right Shoulder of the Inverted H&S.
![](https://steemitimages.com/DQmP8Gp2EmNc93HnkiKiJkrE4Q7PXSs1CksBUunPunXtb4n/image.png)

**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. </center>


Please consider reviewing these Tutorials on:
[Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)
[Elliott Wave Counting Tutorial #2](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-video-2-zig-zag-and-flat-corrections-how-to-recognize-and-label-corrective-waves)
[Elliott Wave Counting Tutorial #3](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections)
[Laddering](https://steemit.com/bitcoin/@haejin/an-effective-buying-and-selling-strategy-laddering-a-tutorial-on-to-cast-a-ladder) and [Buy/Sell Setups](https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial). 
[Laddering Example with EOS](https://steemit.com/bitcoin/@haejin/eos-target-usd3-22-analysis-update-live-real-time-laddering-example-you-don-t-want-to-miss-this)
[Tutorial on the use of Fibonacci & Elliott Waves](https://steemit.com/bitcoin/@haejin/tutorial-on-the-use-of-fibonacci-ratio-and-elliott-waves)
[@haejin's Trading Nuggets](https://steemit.com/bitcoin/@haejin/haejin-s-trading-nuggets-all-learned-through-tonnages-of-failure-experiences)
[Essay: Is Technical Analysis a Quantum Event?](https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event)

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<center>https://steemitimages.com/DQmWpisRXDF56mV3DgzzPUxb3R2ozseR48YVr2YKtwtrBcV/DQmWpisRXDF56mV3DgzzPUxb3R2ozseR48YVr2YKtwtrBcV.gif



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