Bitcoin (BTC) Mid-Day Update: Bitcoin Loves Wedge Triangles

in #bitcoin7 years ago (edited)

**Note: If you don't want to see any spammer or troll, simply use the mute function. And they disappear!

@berniesanders owns @kimjongpoo; @baejin and these accounts which he uses to self upvote at times 3 worded posts:

Analysis:
The short term always carries the risk of myopia. However, the subwave labels provide the vital "geo" positioning an Elliotician needs. The below chart shows the blue and white wedges and clearly the personality of Bitcoin is that it desires to consolidate in triangle patterns.

The white wedge shows an indication of breaking out and the white smaller degree of trend impulse waves provide a projected pathway. However, zooming in and out from short term to longer term is necessary to discern best probable scenarios.

Here is the larger degree of trend picture where since the $5,900 prospective bottom, Bitcoin can be said to have placed waves 1,2 and 3 and is now working on 4 with 5 on deck. The key relationship between waves 4 and 1 is that 4 can't overlap with 1, the top of which is $9,060. So, from this Elliott Wave perspective, $9,060 would be the line in he sand which invalidates the count. The fact is that such has no occurred and so not yet invalidated.

My primary count remains as shown below. The IHS (inverted head & shoulders) is still in play. IF the wave 4 will complete the RS, it would be ideal. Volume is still confirming beautifully.

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
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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As Bitcoin goes, do goes the price of the alts. Alts are tied to BTC and BTC is tied to news. Good news, BTC goes up. Bad news, all cryptos plunge.

Just saw 1st Blood is getting delisted from Bittrex because of possible double spending...beware!

Lets hope we can hold $10000 long term.

 7 years ago  Reveal Comment

If btc can overcome this external influence it is experiencing, I believe its price will skyrocket again and this time its price might triple

 7 years ago  Reveal Comment

Haha fight it :) I mute them if they are irritating, but can't mute their votes :/

Wow @kimjongpoo gave a +vote, never ecpected that!

Thanks Kim :)

 7 years ago  Reveal Comment

Amazing @haejin.Good post
Good luck @haejin

 7 years ago  Reveal Comment

ECONOMIC PLUNGE 2018! March Madness Coming... (Bo Polny)

Let's see...(seing, wait)
Dude, this is aimed to make you panic, don't you find invasive the sice of the word "panic" the low and dep voice, the crisis and storm predictions, If this dude really would like to help He should be teaching how to avoid, don't make a "It's the end of the world" video .

 7 years ago  Reveal Comment

Thanks for the update Master Lee.
This has been a little headache, LOL, but winter can´t last for more than 3 months, LOL.
Time to rocket is coming.
Have a nice weekend. Keep doing such great help to the community.

 7 years ago  Reveal Comment

Nice information

 7 years ago  Reveal Comment

good post

 7 years ago  Reveal Comment

Thanks for sharing.

greetings from Berlin

 7 years ago  Reveal Comment

Thanks for the brief update on bitcoin! Always enjoy your TA!

 7 years ago  Reveal Comment

thx for sharing.
how we know when wave 4 is completed?

 7 years ago  Reveal Comment

Good suggestion muting the trolls, I should have done it long ago! Thanks for the quality TA as always

gazua!

 7 years ago  Reveal Comment

Hi @haejin, Please please let me know this.
i can't divide wave1 into 5 waves.
if it is like this, wave 3 of 1 does not obey elliott's rule.
how can i divide wave 1?
haejin11.PNG

I'm no expert, but is this a possible way to sub-divide 1?

capture.png

One of the things I have noted in the smaller and larger trends, if the wave doesn't hit the channel wall it is not a complete. So 1 at the highest point and 2 at the lowest, more to the right. Wishing you blessings

So @haejin you think the wave abc is not yet finished and it's on b now and going to be down for c, right? Thank you for the analysis.

Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BTCBitcoin10446.400$5.67%1.47%
EOSEOS8.662$7.56%-13.62%
QAUQuantum0.224$4.31%5.27%
WAVESWaves6.831$5.34%-12.03%

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Thank you for all your great ta and ideas. The way you explain your elliot wave charts and alternative counts is always eye opening, it makes me think about alternate patterns all day.

Thanks so much Haejin for your great content and for educate me about the Technical Analisys and Elliot Waves.
I am learning a lot thanks to your post, video and suggestions.
Happy to follow you thanks to a good friend of mine that brought to my attention your valuable contents.
Keep going with your great job...you are inspiring me to study and learn more. Thanks

as always exactly and a beautiful analysis to be aware of :)

thank you Haejin, please ignore all those haters since you have sincere followers like us. have a great day ^^

Thanks for keeping people up-to-date on the BTC action. So sad to see all of this B.S. going on with flaggers and people trying to tell you what they think you should be doing with your money. For all anyone knows, you're using your profits to help find a cure for cancer. Probably not, but... why don't you take some time to do some "charity" posts or at least explain what it is you are doing with your profits? People just don't really know what's going on with other people on a social media site. They see massive rewards and self-voting and think it's wrong/bad/greedy. But, they really have no way of knowing. I've always said that self-voting is fine. Turns out I do it much less than I thought that I did (20% on votes, 50% of my actual $ rewards). I thought I was closer to 50%, not 20%. Some people just won't be happy if you're seen to be "taking profits" which are too large. Well, It's their prerogitive to use their SP to try and stop you, if that's how they want to spend their time and money. I don't really see too much point in trying to make a point when the only thing around here that really matters is $$$. Some people have it, some don't. The only thing to remember is this: just because you have a lot of money, that doesn't make you "right," and it doesn't make you "wrong" either.

Good saying that I always tried to follow...
Be honest. Do what is right. Treat other people with respect.
It would be good if more people followed that.

I don't think you should give berniesanders this much attention in your posts. When someone is trying to confront, any attention is confirming the effort. Just ignore him yourself.

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