Bitcoin (BTC) Morning Update: Shallow Retrace Can be Bullish

[haejin]

SUMMARY

Bitcoin (BTC) overnight activity has breached out of the upper wedge line and the key now is for it to make it decisive and stay above it. As had been mentioned, not all triangles require an abcde and thus breaches can occur on wave d types. We've seen this occur before, so nothing new. IF the breach is decisive, then price needs to impulse towards white wave 1. The blue subwaves could target towards $10,601.

Bitcoin needs to put in a higher high. I had written that the first sign of a trend reversal is a full set of impulse; we are now correcting after that and if a second round of impulse start and enable a higher high; that would be ideal. The shallowness of the current retrace as shown by the Fibonacci chart is more towards the 0.38 level. This shallowness is quite acceptable because given the major depletion of sellers when price went as low as $5,944 in the prior low; there just might not be enough sellers to induce a deeper retracement. So, shallow retraces often have bullish indications in that the buyers can outperform.

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.

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Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?

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Comments

[markjackson1989]

bitcoin going to 11k

[markcze]

[missioncontrol]

Cease self voting.

[ashwim]

i'd say it will go past 20k by the end of 2nd quarter this year

[lyndsaybowes]

Can you send me the link to the post he flagged please, we'll send healers over.

[termi]

Emma Emma Emma......If the University Nerds, that are going to back you up to take down Haejin, are on the same intellectual level as yourself, then I highly doubt he has to worry. I know that you think by throwing your cyber pussy at someone might help you out on this platform so you can make money by posting poems and the like, but I doubt that will work. Also by tossing around the slurs such as Fudge Packing Queers you may scare away the only potential readers of your poems. To make it short and to the point, you should first take the fist out of your own ass and end that Career, before you decide to start a new one to troll a user here on steemit.

[lswingcat]

WTF???

[ropaar]

@emmajoy. You bunch of trailer trash! Stop farting around with your mini craps!

[adri1202]

Before ignoring you can I know why you put some pretty girls before your absolutly exceptional photoshop performance showing haejin tellign sh.. ??? That's just weird ...
I don't get the point doing it ...

[haejin]

Bernie Lover! I found this post on your blog. Enjoy his foul mouth!
I did not make any downvotes 19 min ago or any today except now since your posts are lies tantrum and false....show me the link.

[icomment]

You respond to fire with calmness and understanding....a true steemitian. Thanks @haejin

[yousafmaier]

[aman2017]

go btc go to 100000$

[totopapa]

Gazuaaaa

[scarlet7]

Hell of a call this morning.....pretty much nailed it to a tee, with perfect timing. Better take advantage of this gold before it's gone. Nothing lasts forever......

[cryptoscout]

Thank you for the helpful info, enjoy trading with your analisys and find it to be rather acurate 99.9% of the time.

[ropaar]

@emmaASS. Now you call yourself a Jackass. I feel sorry for you, emmaASS.

[thedolphin]

Thank you! The Superguppy don't show any signal change yet but a clear breakout at Hitbtc too

[paulipapa]

This would really be good news...

[thedolphin]

I had to adjust the anchor timeframe, then it gave a signal :)
https://steemit.com/bitcoin/@thedolphin/bitcoin-update-26-feb-18-breakout

[investingtips]

Hey @haejin made you a new Steemit banner... (your current one is a little sore on the eye) hope you love it friend! :)

[adri1202]

Just don't follow his post if you do not like it ...

[lyndsaybowes]

Outstanding banner :) xo

[haejin]

Downvoted for actively inciting spam and hate messages. Please be more professional at all times!

[lyndsaybowes]

This one may fit better, the other was a little small.

[missioncontrol]

What's so bad about communism? Also your reputation will suffer from your spamming.

[icomment]

The problem with my friend @emmajoy is that she behaves like she has not been to school...just rants and rants and rants.....

I am not sure if she even knows the meaning of communism.

[kevindixon]

She is probably a guy hiding behind the screen in his mother's basement.

[ropaar]

Geez, mama's basement. Not a place to be!

[icomment]

Hahahah...i know, still she/he is not really that smart, upstairs. Thanks mate for the solidarity

[kevindixon]

There is a lot wrong with communism. If only you could look at history and see that it's an authoritarian form of government. But I'm not interested in debating it here. I prefer a free market. That's what's so great about Bitcoin.

[kauaiq]

True communism has never existed within modern governments, we can say the same about free markets. Crypto is the close though.

[shawnster]

he's from south korea not north korea...lol

[haejin]

Downvoted for lies and spamming on my blog! Please refrain from such and be more grown up!

[d0nmani]

Thank you,HaeJin. I learn a lot through your charting and I now can do a little bit of TA before you wake up and your post confirms my analysis! thanks again ^^

[kevindixon]

You don't have an argument. All I see is ad hominem attacks. This post is about technical trading and it's good. Can't you find something more productive with your time?

[ropaar]

@emmajoy. You don't have to say you are a donkey shit! Have some self respect. How about you are a good cow!

[haejin]

Downvoted for repeated spamming! Will not be tolerated.

[wvw.insomnia]

This is my primary. Head&shoulder is my alternative, so keeping close eye on it if we get neckline breakout.

3rd one is a bit more "explosive";

Very interesting times @ ~11k

[ikk200]

I made a similar post here. https://uk.tradingview.com/chart/BTCUSD/CZra5OgN-Bitcoin-ABCDE-Correction/

[tokyoin]

Bulltrap in my humble opinion...but what do I know...

[ropaar]

probably not much.

[wrath-of-grapes]

I am inclined to agree but I reinforced some of my positions and will sell part off if 10.600 dollar is reached, if not I will buy again when it dips further. It might go up but I think it is still too early for a definitive breach.

[bitgeek]

Congratulations @haejin, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 50 and the total pending payments to posts in these categories was $3994.47. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

[selina2]

good news.great post.realy nice job.

[rockstar40]

Nice post. Thanks for shear.

[criptotrader]

Kisses💋💋💋

[s3cr3t]

Awesome. We breached 10k super fast.

[demonklyd]

now breaking out! how sexy!

[black-army]

[ulqu3]

Bitcoin needs something positive to happen for the price to go up. It's taking too much pr damage right now and only holding due to it's trade-standard gateway capacity

[eunjislays]

https://cointelegraph.com/news/bitcoin-core-0160-with-full-support-for-segwit-gets-official-release?utm_source=dlvr.it&utm_medium=twitter

[ulqu3]

I'm aware of this. Let's see how it swings the tide.

[farah-kamran]

its good but you can do better then its make a visible chart that show ups and downs clearly

[jeaimetu]

Thanks. I upvoted and follow you.

[andriustovis]

To shallow correction for upside. I do think it's forming abc expanding or contracting flat for deeper correction and at your marked wave 1 we should see bigger plunge at 61.8 or lower fibo. But let's see how it develop:)

[tetas08]

Truly speaking sir, your almost all content are amazing and i like it to much!

Keep continue to written those type greatest article in future.

Good luck and well done sir. 👍

[bartjans]

Update Ripple is that Possible?

[izge]

Our fingers are crossed, waiting for the god of bitcoin to sign.

[titanik]

more information.

[nordin]

[macmanux]

If the triangle does not fit, I think WXYXZ does...
The RSI is showing bullish sign on the 4H and the breakout is nice. Thanks for the explaination regarding the shallowness of wave 2!! Really enjoy your post!

[kofibeatz]

Go Bitcoin Go! Go Bitcoin Go!

[lyndalo]

thanks for the information

[tik]

Thanks for the analysis.

[reishark]

Maybe you like this post. Or you will find it useful https://steemit.com/bitcoin/@reishark/weekly-analysis-of-the-bitcoin-course-19-25-02-1

[aboutanything]

beautiful, for me.. bitcoin has been making bullish moves, and we are and a nice correction, play it safe people.

[maximzvonarev]

#Bitcoin(BTC/USDT)Вечернее обновление: Большие обьемы дали толчок наверх, осталось подождать развязки.

[unkabird]

hopefully a day bitcoin will rise again.

[coin.info]

Coins mentioned in post:

Coin		Price (USD)	📉 24h	📉 7d
BTC	Bitcoin	10670.300$	-0.68%	-3.44%
EOS	EOS	8.759$	2.97%	-2.5%
QAU	Quantum	0.237$	-7.22%	3.01%
WAVES	Waves	6.633$	-2.41%	-16.21%

[haejin]

If you persist in spamming my blog, they will consecutively be downvoted. Please cease!

[icomment]

How has your comment contributed to the discussion here?

Granted, you are also trying to make it here at steemit, but the best way is not conflict but friendship.

Insults and abuse are a thing of the indecent, honestly.

Here are some tips mate, which some of us are trying to follow, and they are paying off:

1. https://steemit.com/steemit/@whatamidoing/it-s-a-great-time-for-new-users-to-earn-sbd-by-leaving-good-comments

2. https://steemit.com/steemit/@miti/a-complete-guide-for-newcomers-and-minnows-to-avoid-a-possible-spam-and-to-write-good-comments

3. https://steemit.com/steemit/@miti/newcomers-minnows-and-spammers-this-post-will-save-your-reputation

4. https://steemit.com/steemit/@thecryptofiend/the-complete-steemit-etiquette-guide-revision-2-0

5. https://steemit.com/steemcleaners/@steemcleaners/plagiarism-guide

Also racism has no place in a descent world. Please, above else avoid the racists taunts, they don't win you any friends, at least not sober ones.

And then, show some respect for one of Steemit's most successful stories, and stop belittling yourself.

Kindest

[icomment]

Going by your manners here, you certainly don't show a good example of those 'Smart nerds'. And if they are as smart as you say, then obviously they will not buy into your racist brigade. In fact, they will shun you.

Meanwhile, calm down my sister.. and get to creating good content instead of spamming, pleaseeeeee.

[haejin]

Geez, the internal hate coming out of you is impressive! Amazing the level of emotional immaturity so many have!

[icomment]

No! They don't like him. They WORSHIP him.🙏🙏🙏

[icomment]

How has your comment contributed to the discussion here?

Granted, you are also trying to make it here at steemit, but the best way is not conflict but friendship.

Insults and abuse are a thing of the indecent, honestly.

Here are some tips mate, which some of us are trying to follow, and they are paying off:

1. https://steemit.com/steemit/@whatamidoing/it-s-a-great-time-for-new-users-to-earn-sbd-by-leaving-good-comments

2. https://steemit.com/steemit/@miti/a-complete-guide-for-newcomers-and-minnows-to-avoid-a-possible-spam-and-to-write-good-comments

3. https://steemit.com/steemit/@miti/newcomers-minnows-and-spammers-this-post-will-save-your-reputation

4. https://steemit.com/steemit/@thecryptofiend/the-complete-steemit-etiquette-guide-revision-2-0

5. https://steemit.com/steemcleaners/@steemcleaners/plagiarism-guide

Also racism has no place in a descent world. Please, above else avoid the racists taunts, they don't win you any friends, at least not sober ones.

And then, show some respect for one of Steemit's most successful stories, and stop belittling yourself.

Kindest

[davidehobbs]

I actually know who you are, and I am going to report you to your school and sorority for you unacceptable rscist rant. This is unacceptable. I am getting a screen shot now.

[icomment]

Now you are trying to drawing me into a mud-slinging war! I refuse. I am better than that.

I only fight intellectual battles, not mud-slinging trivial wars. So you are welcome to an intellectual battle, write ideas, arguments....not colonialist racists taunts.

Meanwhile, what do you think of @haejin's analysis on: Bitcoin (BTC) Morning Update: Shallow Retrace Can be Bullish