SUMMARY
Bitcoin (BTC) breached out and above the upper, redrawn, wedge resistance! This is pretty much completed the Inverted Head & Shoulders pattern. Recall that there are two stages, completion and confirmation for the patterns. The next step is confirmation in that price needs to breach the $8,995 and as you can see, BTC has bounced off this blue Neck Line.
The video as much more details on how the below chart was drawn. Basically, IF the Neck Line is also breached, price is then likely to race up for the wave iii. I've drawn the wave iii target (yellow) and the wave 5 target. I've also tried to have these waves to the best approximation of timeline as well. Once wave v completes, $14,690 should be tagged. Again, these targets are conditioned on the Neck Line being decisively breached!
Legal Disclaimer: 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.
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BTC/USD
@asiahajranajma kindly request please don’t mention my name and link here please.I will downvote you now & onward if you do so.
Dear steemians we all here to make some profits from cryptocurrencies so let’s work together and hard.Don’t blame analysts for some TA like @haejin, me or someone else.Thanks
take care all steemians
Full of Shite
Go away
Salahuddin2004 has zero right predictions...
Don't be such a baby...Due diligence is all on you. Realize the concept of probability and you will be rewarded through awareness. Wishing you blessings.
Blessings
@asiahajranajma kindly request please don’t mention my name and link here please.I will downvote you now & onward if you do so.Thanks
take care all steemians
I find these blue diagonal support lines from last summer/fall price action to be interesting because they seem to be helping contain the current price movement. Perhaps they will contribute to resistance or support moving forward.
Thank you for your daily BTC update! :)
Awesome thanks! I strive to become as good as you in terms of TA. What are some of your favorite TA books? I already have Elliot Wave Principle and TECHNICAL ANALYSIS OF STOCK TRENDS. Are there any other books you can recommend too?
Thanks for your teachings.
Secrets For Profiting in Bull and Bear Markets by Stan Weinstein's is a good read. Also, The Art and Science of Technical Analysis by Adam Grimes
Those are the two books and that’s it for me. You need lots of practice and mistakes to learn from. It’ll be a couple years or so but you’ll get a lot of improvement.
Lol. If you consider calling for ATHs as the market was topping good. And not being able to foresee a bear reversal where many other analysts could.
Hey, nice reputation you got there @kevitos!
I'm looking for some great updates this week.
We loved the post! Thank you for the hard work and effort put into informing us on an update!
You don't know the difference between a possibility and a certainty. How do you even tie your shoes?
@asiahajranajma. He downvoted you because you deserved to be downvoted. You don't know how TA works and your behavior is causing (-5) after your name.
Salahuddin? really? the guy who called 10k is a 100% bottom?
is he still here on steemit? he better delete his blog and change proffesion.
Nice
@haejin Is this taking into account the Chinese New Year? These analysis are great, but are you also taking into accounts news? I'd love to know sometimes a bit more about other elements affecting the market! :)
I purely use price only because it’s the earliest reflection of sentiment. Price therefore moves the news and events and never the reverse.
This is also why RN Elliott states that news or events will later arrive to justify the forecast.
Haejin, I was trying to buy your recorded training sessions which i saw on your website yesterday, I am looking to buy in today and i don't see them. Could you please help me here. Thanks
Please try again in an hour.
I am agree with your opinion because you have ability to understand in your articles. Step by step, point to point.... just awesome.
Thank you for sharing your post with us...
Video broke
Sorry about the audio. My Cat must have chewed the mic line again.
Might see 7k$ again before climbing up.
Was hoping for one more lower low. But I guess our blockfolios will be looking healthier! Every cloud, lol 😃 Thanks Haejin.
Try and see it in a three year timeframe.
Great post. Any idea what the heck Verge is doing?
An oldie but a goodie. He nailed waves 3 and 4. Let's see if 5 plays out accordingly next. But digging up a video from last October probably isn't going to help anyone here.
sir @haejin please check my comment list
CREATE content in your blog. All you do is RE-STEEM other people’s work.
Do your best to create good content please
Thank you for your analysis!
Next milestone to reach$8995.00!
Here we go, it won't be long before that happens.
I hope your right!
I have just published a similar analysis. I am glad a pro like you also shares my view ;)
I think you're calling this a little prematurely. The neck line certainly hasn't broken on my charts yet. If it had, I'm sure we would see a surge of volume.
I’ve placed my IF conditions.
Is it just me or do these waves just not look very "impulsive"
You’re right. That’s why we need the higher highs.
Finally I can see pic
audio was horrible btw something wrong with the mic?
Don't get used to that mouse pointer! :-)
Looks like the single bottom pattern has been formed for BTC, it will only be a matter of time before the rebound kicks in.
Please vote me
Keep posting and don’t BEG for votes please. There is no dignity in BEGGING
hahahahahaha
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Hello Haejin :)
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On your blog you could focus on fundamental analysis. That could be helpful to people who choose to follow you. In this comment section of a Technical Analysis blog, it reads more like FUD.
Go do something useful with you time.
It's funny how many people outright challenge haejin and tell him that he is wrong, only to be proven absolutely flat-out wrong a few days later. It brings me great pleasure to watch it happen over and over again.
winnie is the FUD queen though, so it should read that way