SUMMARY
Last night, Bitcoin (BTC) surged out of the bullish ascending right triangle and this morning tagged $9,435. The below chart shows an updated Elliott Wave sequence towards the $10,084 target. The $9,600 minimum of the ascending triangle pattern has not yet been met and it likely will be today. The volume surge and a steady level was maintained overnight and for the foreseeable future, a steady state should be attained.
The fractals are shown in the below chart. The yellow box was the third and I've laid out the scenario for a potential fourth repeat! The video has more details but these fractals have been jiving very well with patterns, indicator and Elliott Waves. IF this fourth fractal takes place, a breakout from it should deliver the wave 3 target. Up above, the real resistance is the $11,800 zone and the month of May could be an ideal time to breach that.
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
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I can see clearly upward pointing wedge, so there should be price drop anticipated. Am I wrong?
And it should form Head and Shoulders.
I see this too! good call
This never gets old. I even think about cryptos while having sex.
Aside from technical (wave) factors, have we identified specific market forces that may be affecting the price of BTC? I was kind of thinking that when the USA bombed Syria that, priced in USDs, we might have seen a solid move last Friday, but it never really materialized.
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The amount of large cup and handles getting ready to form in alts is staggering...this may is going to be something for the record books
Hey Shawn you think we might see ATHs ?
Absolutely bat...EOS is already almost past ATH's on the USD pairing...there will be some that don't , it just depends on the demand....one other thing that could prevent some from doing this is if BTC is only doing a large B wave up now to around $12000-14000 and then down to $3000-4000 ish for the Wave C...we just have to take it day by day to watch the indicators and wave patterns...but i see some making ATH's without a doubt
Cheers Shawn. I agree we need to keep an eye on what the wave looks like once this present correction finishes. If the B wave reaches to 14000 I could be tempted to take some profits.
I'm keeping my fingers crossed BTS sees the $1 range again this next move up. I am also holding EOS with big expectations although part of me wonders if the price will pump prior to going live, then dump heavy for a while, like lots of coins do similiraly when the first get added to an exchange - what you think ?
Yeah i totally agree bat...I'm going to struggle with EOS because i see it as a potential ETH.2...if the investment community including hedge funds consider this fact, we could see a $200-400 EOS in the next 6-12 months...we would all be wealthy.......BUT, like you said, the smart money may dump it...i have a strange feeling it will thrust after the mainnet launch after a slight deep setback as a counter intuitive move by the large players....EOS seems like one of the most interesting projects considering the success of Dan's other 2 projects Steemit and Bitshares...that's why I'll only be liquidating a small portion....lol
Good advice my friend ! I'd take $400 EOS although I probably should have bought way more than I did lol I'm also hoping BTS rides the coat tails of EOS and sees a parabolic move up. I know Haejin said $300+ Long term but in all honesty if it $15 by the end of the year I'd be a very happy man
Go btc! Finally.
Really great analysis. Thank you !
Congratulations Haejin! I've been following you for about a year. Thank you for sharing!
lots of info
Its such an informative post,thanks for giving us the update about bitcoin. I will cosult an advisor to know if its d right time to sell or buy.Thanks for sharing this post.
Great! It was lovely seeing the increment and i hope it continues to increase proportionately
bro do u analysis BRD?
Its finally time haejin, got my spacesuit ready, lets have some good times for the strong hands!
I don't dare short Bitcoin either.
Thank you for update!
This wedge was completed. If this is a wedge?
https://www.tradingview.com/x/qWxNcIy8/
Thank you
you are the best
can you please take a look on Tron TRX ?
thank you so much!!!
Nice analysis....
@Shenobie