SUMMARY
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Let's start with the longer term perspective. Overnight Bitcoin (BTC) price action has added little change to this chart. The Cup & Handle is still in progress and the handle formation has developed a little further. All else remains the same and as soon as the red E wave is complete, a trend reversal could be expected.
What I've never seen in Bitcoin (BTC) is a sequential rounded price formation. The chart below shows that as potential because the handle of the blue Cup & Handle could be the left wall of the yellow rounded formation. IF there is no explosive breakout and price prefers to go a bit sideways, it'll probably go into the basin phase (blue rectangle) before building the right wall. However, this is NOT the primary count, and is used to take into account the potential for a sideways price action.
The short term shows that there was a bounce, overnight. The yellow ABC are the subwaves of the red B. If yellow A is complete and B is nearly so, the there should be a yellow C wave bounce. That would complete the red B and so C would onset. Let's see how the price action plays out today.
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
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Tutorial on the use of Fibonacci & Elliott Waves
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Two Cups are better than one...BULLISH!!!
hahaha!
well for once i agree with you and i give you a thumb's up and a upvote
Teeka thinks it's all up and up from mid May on. But I hear others saying it may keep going down until July before it really starts to lambo/moon again. Who knows?
VERY NICE!!!
I'm holding my BTC, and hope it will get High. Thank you for the post, keep the great work! :)
Not interested in anything you do that is associated with Tone Vase and crew. Will stick to your Steemit posts as long as it is your independent work.
He is leaving Steemit for Bitcoin.Live!
It's just a platform with different analysts giving their own independent analysis. I'm looking forward to seeing @haejin's work on their as well as seeing the differing opinions of the other analysts.
Nice TA
You said it all. Good one.
Hey @haejin, i will really listen you live and attend a Webinar and i always like and appreciate your work!
I see the J curve at the end of the short term chart. That is a good sign worth taking notice.
I'm watching similar patterns on ethereum right now , first time read & i understood it .
successful work
successful work
Thanks for this post.
Please Stop - @omrfrq18
You just said "for this post" and in your your last 100 comments you used 50 phrases considered to be spam and you made this exact same comment 26 times. You've received 0 flags and you may see more on comments like these. These comments are the reason why your Steem Sincerity API classification scores are Spam: 75.24% and Bot: 7.24%
Please stop making comments like this and read the ways to avoid @pleasestop and earn the support of the community.
Another $1,000 drop to fit the EW theoretical count? With a catalyst news event to develop yet to trigger the drop? OK, we'll see and I know you would cheer an earlier higher breakout of the channel, so would I, and a multitude of others.
I think technical analysis is becoming less accurate as bitcoin - cryptocurrencies in general - become more established. It happened with stocks. The only problem is a lack of fundamental analysis available for forex not backed by a bank with set interest policies. Any news on useful valuation methods?
Good information bro...
Thanks....
Bitcoin will rise... the accuracy of this site has been impressive for a long time: http://cryptosrocket.com/btc/2018/05/14/bitcoin-btc-update-we-just-made-an-emerged-crossing-were-going-up-target-9550