SUMMARY
Given Bitcoin's price progression thus far, It looks as if wave 5 of c of blue e wave has started. This means the $7,500 to $7,200 zone are the next potential stops. As stated in the mid-day update, there could be a spike down below the blue support line (blue circle) as it had in the prior wedge pattern (white circle).
The fractal wedge paterns are still holding to formation. The MACD of this 4 hour chart itself is also moving within a contracting set of boundaries. Is a crash scenario more likely or a breakout? I believe the latter; once the pattern is complete.
Here is the logarithmic chart showing the support fan lines. The top line is pretty similar to bottom triangle line of the larger degree of trend. Price is pretty much sitting on the top white line and this needs to hold as support. IF it is decisively breached, then the second line of support is projecting $3,800 to $4,200 or regions.
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.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
Good detail on multiple timeframes. Thank you.
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
Hey @haejin
Thanks for your great analysis.
Are you able to do TA on Drachma Coin next? Do you think it will go up?
It just started it's ICO. You can read about it here: https://steemit.com/greek-trail/@christosthegreek/the-drachma-coin-white-paper
This bear market has the potential to get people down.
But if you hang in there, keep your eyes peeled for opportunities, and just happen to be in the right place at the right time...sometimes you get lucky. Drachma Coin is one of those rare gifts.
I'm going all in on the ICO. Alllll Innnnn!
Ok so you're starting an ICO shitcoin. Then asking for TA on something that that has zero price data.
My my my, crypto has become retarded... :P
Edit: oh wait I'm the idiot... Hahah that's pretty hilarious. You got me :p
I tip my hat :D
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
This level of support is extremely important.
If lines are drawn under the price over the extreme long term, BTC still has some large upside potential.
Great post mr. haejin thank you!
Thank you, nice to see your update.
Nice! Please do COLX or ECA.
Thank you for giving us good information..... thanks a lot
It would be truth that Kobayashi (the japanese behind the Mt gox scandal) and his sellings are affecting the markets in this way? If this guy has this power, i do not want to imagine if one day Nakamoto move his millions of BTC hahaha.
Is there any source available to the rumor he will dump again?
Nakamoto is dead.
It is combination of FUD news and him timing his sell orders at right time when market was about to turn the other direction.
Very good analysis like always!! Thankyou!!
Can you please take a look at verge
Thank you, HaeJin!
@diverse why did you flag my comment on this post I am not able to speak my mind?
Thanks for the update
Excellent explications of btc tendences.. great.
Co ty jsi za debila?
very helpful posts you often share about cryptocurrencies, I appreciate it. Thanks for informing we people :)
Very nice
Whales are waiting for Bitcoin price to be less volatile. That will be achieved when more small investors get in. Some whale may get desperate and push the price right away. By mid April Bitcoin price has three different Price prediction $7,000 OR $13,000 OR 22,000K. In 10 days you will get to know which path it may take.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 146.55 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
Congratulations @haejin, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 37 and the total pending payments to posts in these categories was $2090.97. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
poo
Colx seems ready to explode. Can you please do a update?
Quite informative & interesting.
Nice
^--- You made this exact same comment at least 12 times in the last 2 hours. View these duplicate comments
Upvote this comment to support @duplibot and help reduce spam and superfluous comments.
And in addition, make sure to upvote that comment to support @duplibot and help reduce spam and superfluous comments.
Superfluous comments are unnecessary. Superfluous comments are excessive. And, most importantly, superfluous comments are redundant, as well as redundant.
Dear @haejin
You have been flagged via the flag-a-bitch app. The reason is you have been found to be Raping the reward pool with a rate of around 2.133% of the reward fund. To add onto this, your TA's are so horrible that a simple check with a mock portfolio will provide a negative value.
The flag-a-bitch app is being used on you because of your consistent blattant abuse of steemit through means of: abusive self-upvoting, collusive coting groups, and disagreement on rewards. Since we deem that you have been damaging the steem economy, we flag you.
If you would like to help us out with our quest to fight abuse you can check out our post here.
Thank you!
@winnieoriana @diverse @diverse why do you defend a user that is stealing from others? Why is my comment flagged by you?
Who is haejin?
@haejin is a rewards pool rappist.
@starjuno why am I not allowed to say this without being flagged?
Because they don't like the TRUTH about them!!!
@winnieoriana @diverse @diverse why do you defend a user that is stealing from others? Why is my comment flagged by you?
@diverse what about this comment do you not like?
why did another user @diverse flag it though is that an account used by @RanchoRelaxo as well or someone in on this Rape?