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SUMMARY
Bitcoin (BTC) has now hit new ALL TIME HIGHs with $12,186!! But, we're not even close to being done! The below chart shows an updated Bullish Ascending Right Triangle where the horizontal blue line was raised to connect more tops of price bars. This has also raised the minimum price run target to $13, 810. As this is the minimum, it is very likely to be exceeded!
The video explains in more detail how I placed these price pathway Elliott Waves. In summary, wave 1 represents the minimum price travel from the ascending right triangle. Wave 2 is expected to sit on the upper white trend line as support and then wave 3 should travel 2.618 x wave 1 in price distance while wave 5 is placed to about equal wave 1. That brings BTC to a probable target of $20,698.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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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.**
I believe it's very possible to see these highs, and even much higher. Many new people are jumping onboard the Bitcoin train, and the alt-coins are doing great also. The masses want an alternative to the fiat currencies that have enslaved us for years. Bitcoin and the alt-coins are that alternative option to say a big, 'FUCK YOU' to the fiat currencies!
Upvoted and followed.
WTF??!?!?!?! 20K??? im loving this!
Thanks for all your help Haejin..
After resteeming your posts, can I also post Korean translations of them?
No, please don't. ONLY resteem
Ok.. thanks
Stupid question probably, @Haejin. But why is the third wave 2.61 times the length of wave 1? Is that one of Elliot's rules of thumb?
I believe it would be an estimate in reference to the Fibonacci ratio.
Please view my tutorial videos
YESSSS
by December 15...???
that'd make for a merry christmas.
although there'd surely be alot of people freaking out when the correction back to 13-15k would happen. lol. even though that's still higher than where it's at right now...
Wow! Some big numbers right there! Thanks for sharing! I hope you're right!
Whoa! This is unbelievable. I very much hope you are right!
BTC's price will continue to inch higher despite all those pending corrections.
hi enjin.. happy coming christmas and ty for your very estimated help.
can you please do a IOTA ( MIOTA) analys ? ty a lot
https://steemit.com/bitcoin/@haejin/kabooooom-iota-surges-to-860-profit-haejin-recommended-iota-28-days-ago-at-usd0-38-and-price-surged-to-usd3-27
Wow... Just wow!
But have you met the site Bitcoin Bubble Burst? It's a site that alerts the dangers of currency loss.
Check it out:
https://steemit.com/bitcoin/@wiseagent/are-you-afraid-of-losing-all-your-bitcoins-stay-tuned
Haejin, thank you always for your videos. I am learning every day thanks to you!
Thanks for your detailed explanation of how you project price from the apex. Very helpful.
WOW!!! Just found your content. Fascinating. I think I know what you are doing. What about a bigger BTC retracement? Wasn't BTC supposed to correct back to around 7-8k?
The fact that we're just now entering the phases of serious institutional money coming in AND normie mass adoption has delayed the correction that would otherwise be well overdue.
Yeah I agree with you, correction was delayed. But not sure if it is a good or bad thing. I think the earlier a correction comes the better. It would effect the whole market less if we get over it quickly.
What a Christmas present that would be !!
WOW !!! 3K followers!! Amazing!
but 20K is Fantastic!!
Thank you so much Haejin for your knowledge.
and then 20k, what's coming on?
I listened in other analysis is very probably btc market then 20k - 22k will have a huge correction.
will it be correct? or it will simply take a small correction to continue scaling?
what's is your opinion?
Thank you so much for your effort to help the people.
I'm not a crypto doom and gloomer by any stretch, but with the wave 5 target for BTC being pushed higher and higher, it's fair to say we may be in a 'parabolic period' right now in crypto. Basically, a bubble. EW theory states that BTC should see an ABC correction after wave 5 (if I have learned correctly from Haejin). Depends on the sentiment at the time--how many people have bought the top and are going to lose it all during the correction? Will there be panic from crypto newbies? My best guess is that if it hits 20-22k, expect at least a retracement below 10k, with a potential to go deeper than that.
Prechter has been calling the market top again again and again and has failed
I understand that sound TA must take all new developments into consideration--so I mean no disrespect in asking this question. Was this not an attempt at discerning a top? (As it would even seem evidenced in the title)
https://steemit.com/bitcoin/@haejin/bitcoin-btc-topping-range-usd7-000-to-usd9-000
Indeed we are in some unfamiliar waters these days. I thought I was following along, trying my best to learn from your teachings--in hopes that one day I, too, may be able to help others with intentions to 'do no harm'. However, the market of the past 10 days has me feeling upside down a bit, like I understand nothing. Could I ask you to zoom out and do a bigger picture count on BTC? Or are things moving so fast right now that the lines between 'possible' and 'probable' are a bit too blurred for a big picture to make much sense?
And just as I had pressed post on my previous comment, it appears you were posting a video with a larger view of BTC in tonight's Bitcoin evening update. Your post was an immediate answer to my question. A quantum event? Possibly :) Either way, thank you for that larger view as I think I understand the BTC chart better now. Enjoy the Kimchi!
I used to dream of btc at 15k. we are close!
Wow. This is The best thing I've read all day.
whoaaa by mid december???
Can you do zrx? I bought it when "everyone was greedy" now am at loss. Warren buffet is goddamn right lol
Great Post! Can you please do a TA on NEO/USDT Pair?
First and foremost, thank you for all that you have done and continue to do. Your kindness and generosity are unparalleled. Second, With EOS still trading at somewhat affordable levels, I think it would be of great interest to those of us with minimal resources to be updated regularly on potential price pathways, since this project could very easily absorb and increase the value of any and all future dapp projects. Ethereum's proverbial crypto cat is now out of the bag. Now the average new crypto holder will quickly become aware of the limitations on the ICO hype and blockchain application scaling and rush to any potential solution to such massive problems.
BTS, DGB, LBC, SALT, etc
EOS anybody?
4 of five maybe? still i am selling 25% @ around $7
Thank you!
What do you guys think of this being an extended 5th up to 20,000 and then the correction? Which could be similar to the .com bubble that was parabolic as well and the NASDAQ lost 32% in 77 days. Bitcoin moves way faster the NASDAQ. I guess just be careful
Read my blog on " Something BIG is coming..."
I'm wondering if you have heard anything about this Tether/Bitfinex thing that is going on? That is the reason why I'm cautios about BTC at the monent. That can be the next Mt.Gox case.
Finally I can say I found the trend... took some time but... I'll be rdy and now I can sleep for awhile
Some family members in Europe are telling me they hear about bitcoin everyday on the news, i think this is just the start. What about IOTA, can we have an update ? It broke 5,5$ yesterday and we don't know when to take profit
could you do an Etherum analysis?
Thank you for this analysis!
https://steemit.com/blockchain/@financefreedom/bitcoin-price-technical-analysis-update
Always thank you for your kindly posting :)
Hi @haejin, I have sent a small token of appreciation through to your steemit wallet. Thank you for the time and effort you put in to teach us, how to trade successfully ourselves-
https://steemit.com/blockchain/@financefreedom/bitcoin-price-technical-analysis-update
@haejin Dear Sir, you are so humble asking for the upvotes. I hope you will double the number of subscribers to 6,000 before the end of year, as you deserve it like no one else on Steemit! Words 'Thank you' are nowhere near expressing the gratitude I feel for you! I will follow, support and ask for coaching when I have upskilled myself through your videos and books. Thank you so much Haejin, god bless you! Ps. I hope you will read it :) :)