Bitcoin (BTC) Morning Update: Short Term Alternates

[haejin]

SUMMARY

Note: Bitcoin Live invites you to attend an information session Webinar, on May 21st at 3 PM EST, with Haejin Lee, a featured Analyst. Whether you're a seasoned trader, investor or a newbie; this is an opportunity to learn exactly how Haejin Lee's in depth Crypto analysis and didactic educational approach can help augment your due diligence.

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Overnight Bitcoin (BTC) price action has marked out the five wave impulse trajectory. The below chart shows the white five waves are followed by what could likely be an ABC (red) correction. The red C wave is marked to the prior wave 4 level which equals the 0.618 Fib level. The blue abc are the subwaves of red A and if blue c is complete, a red B wave bounce should occure. However, there is an alternate based on a pattern. Can you discern that pattern?

This chart shows that the impulse had moved within a parallel channel. This is a common attribute of an impulse. The pattern is that of a downward wedge. Could this wedge represent the full correction? Yes, and as labeled, once red waves abcde complete, there should be a breakout to higher highs. However, I prefer the blue ABC pathway since it would allow the 0.618 Fib level decline. Why? Is it because I enjoy lower prices? Not at all, it's because that way, more would be sellers are divested and that's always a good scenario for the bulls.

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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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Comments

[ghost11]

great post .i like cryptocurrency.day by day its increasing now .my earning is also increasing hahahahaha

[sstf11]

The fib 61.08 is 7832 usd and fib 78.6 is 7248 usd ... i thing something between this is the bottom .. when we loose the fib 78.6 it will befunny :-)

[lix]

Thanks for sharing this with the community. It always nice to read something that is done with passion.

[iqrimikri]

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[loryana]

Nice post thank you for share it with us

[iberck]

Gracias, deseo mucho hacer análisis como los tuyos.

[snowkubajz]

Beatiful post, thanks for sharing it with us :)

[hunk9]

I signed up last week for bitcoinlive but I didn't get any email yet with login details.

[haejin]

Please use this to login:

[thabiggdogg]

@NED this fucking asshole is still fucking flagging me almost daily. I am taking these flags as PERSONAL ATTACKS. These are THREATS towards me. I do not flag him. If he does not like my post he can simply MUTE ME. When are you gonna fucking do something about this fucking bullshit. Do you want everyone to leave Steemit because of this one fucking asshole you have on here? I wish @DAN still worked for Steemit. At least he had the balls to flag @Haejin.

We Never Had A Discussion!!! I even tried writing him open letters & guess what? That dumb ass flagged those too. He was too big of a coward to respond to me. He responded to everyone else except me. He is a fucking pussy!!! So from now on @NED this jackass is not permitted to flag my account.

[o1o1]

I forecasted a may low @8040 ( a few days ago)---the actual looks like it's going to be $7999.99 (or there abouts)---so now, in my mind, that leaves this---10K BEFORE 8K---
I'm wondering what (you) the average HODL'r, thinks!

[smail1995]

I hope to have a look at the news I post in my account On Steemit and tell me what you think .
Anyone who interacts with the news I publish I will interact with his publications

[muhammadazzikra]

thanks for the information regarding bitcoin @haejin

[samiulex]

Thanks for informative post about bitcoin @haejin

[stoffhorten]

Cryptocurrency's will change the way we live! I think it's a great opportunity for mankind! justice for all and money for me. :D :*

[ahm5353]

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[eaglet]

@Haejin, we have lower highs and lower lows for Bitcoin presenting in the current downward sloping channel that btc just broke out of a few days ago. How do you account for this in your EW theory, and does it matter?

[learnthis]

Thanks @haejin ; could you please do a three month outlook on Bitcoin?

What does the analysis look like for the third quarter 2018?

Thanks in advance.

[tokyoin]

Hey @haejin, I never got login info for the webinar today?

Thanks!

[thabiggdogg]

Because it's ANOTHER FUCKING SCAM BY HIM you dumb fuck!!!!

[silvernews.com]

Haejin, as far as I can see your TA is the best on the web so far

Thanks

[gatsbygetty]

Ooooooops

[erit2018]

This has been my primary for a week; still looking probable. the orange line is the golden ratio; this is healthy and better than an impulse that hasn't tested the golden ratio.

[coin.info]

Coins mentioned in post:

Coin		Price (USD)	📉 24h	📉 7d
BTC	Bitcoin	7867.240$	-5.4%	-4.99%
EOS	EOS	11.400$	-12.38%	-8.31%
QAU	Quantum	0.146$	-11.1%	-7.93%
WAVES	Waves	4.975$	-11.18%	-17.91%

[osman58]

Hey could you check my post according to your background?https://steemit.com/cryptocurrency/@osman58/is-it-possible-to-predict-about-coin-price-without-technical-analysis-ta-background

[azzan]

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[icevodka]

"it's because that way, more would be sellers are divested and that's always a good scenario for the bulls." evil laugh

[steviecrypto]

Let's go crypto! I'm hoping to see some nice upward movement...and soon!

[delishtreats]

Thank you for the information and for the article! I will try to join the webinar.

[longberry]

thank you @haejin, for great information.

[shehrozali]

Thanks for sharing

[torikulislam]

thanks for sharing!!