SUMMARY
Here is the daily MACD histogram for Bitcoin (BTC). The higher low series in two trend, yellow and white, is quite attractive with bullish connotations. The fact that the histogram is the 9 day moving average compared to the white line indicator which is 12 days and the red line indicator the 26 day; the histogram moves and turns faster and earlier. I use it as an early warning or indication. The higher low series is telling me that a turn is likely and that turn is probably up. Also, it tells me that the lagging indicators (white and red lines) will also follow. It's very encouraging.
Here is a bit more on the alternate count which jives with the blue W bottom pathway. The chart shows a microwave count of what could be the final ABC (blue). Wave A has five distinct subwaves, B has distinct three abc waves and the final C could be generating its subwaves white 1, 2,3,4,5. Of these 1 is complete and the current bounce could be 2 which will be followed by the 3,4,5.
The above would fit into the below chart with the $5,120 bottom target zone.
Regardless of the alternate, price still shows that its in the white W pathway and that still remains the primary.
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Its a scary looking chart man I wish it would just stop going down :((
Agree, momentum appears to be slowing down on the downside, as you point out on the MACD...so we are basing now. The question is will we break to the upside or continue down. We haven't gotten the confirmation that price once to go higher as of yet, we probably need a catalyst or buyers to step in and buy price.
Double bottom. Oh yeah. Everyone jump in. The water is warm lol Seriously at this point there is more potential to buy rather than short.
There were big money sellers so I think the down trend hasn't ended.
Wish I had more cash on hand. Thinking about that alternate makes me want to do a garage sale 😂
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Still the best TA atm: http://cryptosrocket.com/btc/2018/03/29/lets-see-the-big-picture-and-whats-next
I have been calling same scenario ABC zig ZAG correction from days now - look at my comment yesterday here at Haeijin post. Also i have explained this on my post. ETH following the same pattern as well.
https://steemit.com/cryptocurrency/@dkalita123/why-btc-eth-and-other-major-cryptos-are-following-same-pattern
With all due respect I am not sure what Haejin means by final ABC - the whole correction can be seen as ABC zigzag ( 5-3-5) but final ABC of what ? Final wave can only be a 5 wave impulse or diagonal for ABC correction. So not sure where ABC is coming from ? I think we will dip lower than from Feb 5th $5900. I explained my count here -
https://steemit.com/cryptocurrency/@dkalita123/why-btc-eth-and-other-major-cryptos-are-following-same-pattern
You @haejin have received upvote from me small fish .. though that does not mean..because i'm still small
esperare
Nice work, 4H chart looking to go higher
also: fuck you, where is my lambo
I need a lambo. I bet @Haejin has a garage filled with at least 10 with all the money he is scamming from #Steemit.
Woooww perfect analisis
nice info bro ^^
I hope graph analysis could be much simpler than this. Thanks for keep us updated.
Great analyse! Your post is valuable for me and all other people.
Why 5120?
Like reading tea leaves, or maybe astrology.
Love your updates Haejin. Would love your thoughts on ADA and Verge. Keep sharing your knowledge mate. Its appreciated by those who understand the cycles of markets
Nice photos. they deserve an award. It is very nice. great work
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Awesome post about crypto and another awesome post about crypto
https://steemit.com/cryptocurrency/@alrashel/ripple-xrp-new-sensational-cryptocurrency