BTC Expanded Flat Elliott Wave Pattern Formed - New High Soon?!

A textbook expanded flat pattern has completed and now we are looking for a continuation of bullishness from bitcoin. This is a really good sign for bulls as this would mean a higher high in price - somewhere in the 17K area. Currently need to invalidate that bearish divergence which would mean a jump in price to 11,100 and staying there and establishing ourselves in the old trading range. We could see price fall to 8800 as that would be correct fib level for this to be a perfect expanded flat pattern, but filling the CME gap is not necessary, gaps have never been necessary to fill in bitcoin - this is simply nonsense from legacy traders who think it HAS to happen. Right now I am very bullish as we have just come off one of the highest fear levels since the 8K area I believe according to this indicator: alternative.me/crypt...ear-and-greed-index/ . I want to see psychology really take a toll on these retail traders such as feelings of disbelief when bitcoin rallies to 11,600 and beyond. We would then begin to see some real FOMO from those who think were filling a CME gap or going lower, etc. And then maybe start looking at potential correctional patterns forming to ultimately shake those hands out. Rinse and repeat to the top. Hope you guys find this helpful and educational.

https://elliottwave-forecast.com/wp-content/uploads/2017/01/expanded-flats.jpg

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Wave 3 was shorter than I expected, and we did end up printing bearish divergence. But this is not an ABC pattern, as C = 161.8 of wave A. I am treating it as a 12345 impulse since wave 4 has not yet passed the 50% retracement, so it is not yet invalidated. Playing it as it goes.

Potential target: 11,150.

Trade active:

Technically, our wave 5 has completed it's target. These seldom overextend further so I would be looking for that over-extension to the pivot and then the 61.8 fib around 11,600. This is completely in play and would watch for bullish signs for continuation, patterns, volume, etc... Stay safe out there, and also be mindful for an ABC correction down, so also keep your head on a swivel for bearish signs that might indicate an ABC might start.

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