SUMMARY
Tom Lee of Fundstrat astutely categorizes Bitcoin (BTC) as an uncorrelated alpha. It is correlated to no traditional asset class. It marches to its own waves of sentiment and this is what usually stumps most traditionalists from Wall Street. They have no idea how exactly to valuate an asset class that has no correlation.
Bitcoin (BTC) is on its own pathway and the below chart shows that price is adhereing pretty well to the free hand drawn scribble that's been jeered at by the cynics and the uninformed. Let's see if overnight prices could form out the Right Shoulder.
Same chart and pattern but viewed with Elliott Waves show a downward wedge is in formation and its nearly complete. Does Bitcoin like wedge patterns? Can wedges be considered a personality attribute of Bitcoin? In a word, yes!
From a larger picture perspective, nothing has changed. The blue D wave still appraoches and two pathway potential lies ahead for the breakout.
Keep an eye on GBTC as noted earlier today, it could potentially forecast an incremental lower low for the much of the Cryptosphere:
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
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TONS of information!! Thanks a bunch! I try to keep up on the bitcoin market and the rest of the cryptos out there but never seem to find all the time in a day to get it done! Your post helped me and I love the added tutorials. :-)
We have open minded people and we are willing to learn what we do not know. there are also people who, in the face of what they do not know, close themselves with oysters, perhaps that happens to the supposed geniuses of Wall Street, they do not realize that the time of Bitcoin and the cryptocurrencies arrived
This is how I felt after looking at all the possible EW's today
Haejin is also an "Alpha" who is "uncorrelated" with trolls and dinosaur wall street investors bragging about annual 5% gains lol
Do he need to correlate with anything?
Interesting. Can you elaborate?
It's proven many times by your own actions that you are a beady eyed, two bit good for nothing sociopath!
Why some people hates you so much? I don't get it.
Some people are envious of Haejin's success here on Steemit - rather than being appreciative of all he does by posting here.
You think this is about winning and losing? That's pathetic! Only a dense, obtuse sociopath would do so.
It's proven many times by your own actions that you are a beady eyed, two bit good for nothing sociopath!
Not sure i understand about the GBTC reference - although not directly tied to the value of BTC it is probably one of the more closely reflective indicators - how can it continue downwards if you have BTC going up ?? Would seem to be contra-indicative ?
They could be consistent if BTC chooses to follow the abcde route with the blue arrow. Although GBTC is so illiquid and has such a ridiculous premium that i dont think it is a good indicator of the future of bitcoin.
Make sure you downvote all of @Haejin's scammy post!!!
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Hgin You should stop your SCAMS NOW!!!
https://steemit.com/stewardsofgondor/@iknowwhoyouare/i-haven-t-gone-away-and-continue-my-efforts
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
@Haejin You do not provide any entertainment. I brought you some.
@thabiggdogg Low Life idiot with nothing ells to do than hate people with a higher IQ than yourself. Get out of the gutter you idiot.
No, the truth is you don't know the difference anymore between a lie and fact. You're so depraved of any sense of decency which is why you stoop so low to collude cheap shots. That's a sociopath! Deviant is the next best description for your type.
Doing yourself alot of favors here buddy.....nobody even sees your spam. everyone has muted you.
What a waste of time Bernie has you on. You're getting muted almost as much as Haejin gets followed, congrats!
It's proven many times by your own actions that you are a beady eyed, two bit good for nothing sociopath!
@thabiggdogg Low Life idiot with nothing ells to do than hate people with a higher IQ than yourself. Get out of the gutter you idiot.
YOU, sociopath are afraid of getting more exposed! I can smell the fear!
Astute TA. I am grateful for your teaching. I learn more every day. I am almost done with mastering Elliot Waves...
I am stuck in my assessment of THC. I would be grateful for a bit of your insight. Thanks!
I appreciate it. As an analyst, I need to call it as I see em.
You are a fuck-wit. Now piss off
It's proven many times by your own actions that you are a beady eyed, two bit good for nothing sociopath!
Oh yeah? Did your boss tell you that? Did you tell you about the last time he and I made an agreement? You're being used just like you were meant to be used, as a tool.
You think this is about winning and losing? That's pathetic! Only a dense, obtuse sociopath would do so.
Thank Haejin. Timely post as I work to find out what the heck Bitcoin is doing!
I appreciate it. As an analyst, I need to call it as I see em.
It's proven many times by your own actions that you are a beady eyed, two bit good for nothing sociopath!
will fall more and then climb
Nice info... pls follow and vote me.thnaks
Upvoted. Please do an updated on Verge (XVG).
Thank you in advance.
There are baffling things in Bitcoin
The continuation of this situation has serious and negative expectations
buying timee!!
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