SUMMARY
Bitcoin Cash (BCH) is about complete with an abcde triangle. Keep close eye on this as it could blow upwards again!!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Legal Mumbo Jumbo: 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.**
Wave 3 of C has likely started. Not an abcde if you ask me.
I agree as well. I exchanged my btc holdings for bch until this civil war leans towards a clear winner.
BCH will eventually win with cheaper and faster transactions and Dash would surpass that with Instant and private transactions and by being unforkable. Yes, Dash cannot and will not fork. There is governance for that.
LOL
BTC is still number one. BCH will have its place in the market, but it isn't king. This is all propaganda to get you to sell your cheap BTC. Don't fall for it.
ditto!
Prepare for lift off!
My charts have 900 as to of wave One. Could it go to 900USD before bouncing up? I am still learning... so take what I say with a grain of salt.
So it just finished part B of the ABC correction, and will touch 900 to 1100 before shotting up?
Here is the chart.
Not sure about the exact accuracy of your counts on your charts, but your numbers are correct!
Thanks for pointing that out.... I am a noob at this... My count is horrible... Yet, it does seem it is heading to 900ish...
This could get interesting.
about 12hrs ago the number was over 174K unconfirmed. Now it's only 135K. That's just few secnds worth Tx for Bitshares. you can keep tracking the fall of BTC at https://blockchain.info/unconfirmed-transactions and https://fork.lol/pow/hashrate
BCH difficulty just increased. But when the prices shoot up, more mining power will migrate back again leading to higher prices.
Is this called a bullish wick?
haejin has limited time this week, but may get to user chart analysis if he gets the chance to. Stick around....he shall return!
Nice!I really hope so!!!
I see things more constructively now, this needn't be a war. We have two products to offer now, and both could flourish... so yes, lets hopefully prove that both patients can survive ;)
I like your attitude!
thanks for the update. May I ask does the low of $2xx (from head & shoulder) from previous post still holds?
No, the new morphed a,b,c,d,e gives an upside.
Looking for a right shoulder now before a change in direction?
In my experience, Myopia and inflexibility brings any account to zero.
The abcde pattern is new morph
When you are watching something very closely like this, what length of time do you use for the candles? Does one tell a better story than another or give a better indication of reversal?
i range through 15 min, 1 hr, 4 hr and daily. Only resolution difference....same count and pattern
Ladies and gentlemen, prepare for lift off!
haejin.. could this partern change in 15 hours .. because in a previous post you told us that BCH will to in a bearish patern going to 200$ almot.. i thank you a lot
One has to remain flexible and see how pattern morphs as it has for BCH
@haejin Prompt please to the beginner who just learn from Your lessons, I now have in stock the BCC I have always sold it to the BTC As profitable now to sell to BCC or BTC USDT? I just always see on the charts that you are working with the dollar, it is more profitable than BTC? You can make technical analysis the graph of BCC/BTC or at least say what will be the price of the 5th wave ( in dollars 4589, and in BCC how much is it?)
He does both sometimes, if the charts are different enough. usually the difference in negligible. When it is more profitable in one or the other, he almost always points out both charts. He uses the USD rate because that is what you want to always end up converting back to due to the fact that it is basically an unchanging value that is safe no matter what crypto does.
Thank you for answer me, explained everything, I'm new to cryptocurrency, just learning
In other words it can go reversal down from triangle.
The videos posted today address both the primary count and the alternate count. Please watch them for full analysis.
Yea I think its about to take off again, likely tomorrow. Corrected from 2500 to 1100 so heavy correction seems to be gone. Been seeing the charts. Its just zig zag right now. Probably gonna buy 1 or 2 coins and set a stop loss.
Wow, I saw this pattern emerging as well! Guess I'm learning, all thanks to you Haejin. :)
You shall be self proficient.
Most likely we're gonna see a bullish wick to wash out the weak hands here huh?
Is this a bullish wick?
Nice call!
Wow, it is so hard to keep up with everything going on in the crypto world!
Damn right!
Very good post.
I have Resteem and Upvote your article for progress and forward together.
Steemit
..
I am figuring what alts to dump.. mtl is on the block so I can get more bch. if only wallet would work.
So if BCH moves below the bottom of the ABCD triangle, would we then get an ABC Correction moving the price below Wave A to about $600 or less?
YES! good!
Thank you. I had a great teacher! :D
If it goes under $600, on the daily chart it would be lower than wave 1 (around $900). Would the big counting still be valid?
thanks
It's wave 2 of higher degree
Looks like it broke down, oh well.
Don't be too quick on that.....you can always look at the current motion of the wave with the macd and deviation tools.... This chart shows those tools plus momentum and EMA.....yes it is a 5 minute view, but it has been bouncing off of the 1100 or so mark for a while now....I do believe it's swinging back up overnight.
These tools are handy when there are multiple counts that are probable and you need to decide where you're going to put that money and exactly when. Can also help determine a good laddering time. Of course the EW counts rule the overall picture, but you can get an idea of the short term direction for the upcoming wave.
Not gonna risk it, I'll just play the breakout should it occur. Missing out on 15-25% possible gains is worth it to reduce any downside risk on the trade.
And up we gooooooo