SUMMARY
Bitcoin's (BTC) overnight price action has not yet resolved whether the smaller blue wedge pattern is complete and confirmed yet. The blue chart shows the blue bull wick as did the larger fractal to the left. The v-neck type of reversal from the bull wick is also seen in the blue fractal as well as the steep decline towards the bottom. The blue abcde also place well and the sam with the subwaves. So, the pattern is complete and the confirmation in the form of a breakout is needed. Let's see how the daytime price action plays out.
The alternate count calls for that lower low which might also have a bull wick and a v-neck turn. IF this pathway becomes actualized, then it would certainly bring the price closer to the Apex. A breakout while price is closest to the Apex often provides better sustainability in the reversal.
Regardless of which pathway is taken, both will like confirm the completion of the blue wave c in the below chart and start towards completing blue wave d and then e. It is very important that the lower white triangle line hold against any decisive breaching.
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Price found buyers at $7600 and has been basing the last couple of days. In order for price to move up, we need to see a candle close above $8600 on the daily chart. If price is able to achieve this feat, the buyers must then take out the sellers at $9000.
If the sellers remain in control, we could see price test the $6000 level again, which would be a buying Bitcoin at an extreme discount which was the origin of the huge move that took price to $20000 and where price bounced back to $12000. Thus, this level would be the best level to buy Bitcoin for the long term.
There we go. Double bottom. People don't want to believe it. People should look at the alt coins for better % gains. Once the correction is over and you spent a couple grand on those coins you'll make great money. Could even pierce 6k good but the discounts will be great.
Yes, I do not want to believe that we are going to hit the $6k level again. 😉
Same here. Ripple under .5 too. The week and days are still closing lower. Nothing bullish about that atm. A Bitcoin day close below 6812 isn't good for Bitcoin bulls. The week close is a lower week close of the year. Not a bullish signal.
I think it depends on what alt coins you're talking about. I'm seeing ICOs and new alts coming out all the time. People are still trying to get into the space even after the recent bubble. I think once these alts that are coming in kind of fizzle away and the remaining legit coins are still around, then the market can shift back up, and those good alts to bitcoin will rise. I'm looking at Ethereum and Litecoin to get a boost as things settle, but also EOS and NEO.
The bubble is not over yet.
Unless a coin is a scam you can bet they'll reach the old highs at least. So it's simple math. Lots to pick from. But this time instead of wave 5's being hit on the old highs and falling it will be a lower wave number. I'm looking for continuation after the old highs. Not double tops. Could it be a wave 1 taking us to the old highs? Don't be shocked. I'd love that. Everyone would.
The day ranchorelaxo starjuno or yourself does not vote one of this post: your followers, steemit and the world will see what is your
Upvotes from this Post
I agree with the big picture and nice chart work. I would also take into condsideration "whales" in the market with big buy ins and sell offs which are not as likley to be predicted.
Just like this one too :)
Sincerely , technically, no one knows where the price is heading now. I think we need more weeks ahead to get real signals.
I expect to see a test of 6905 on Monday. We exceeded 62% of the decline after a move from 6905 to 11469. We passed weak support at 8072.
162 votes makes 1.43$ funny ..i am always follow you and your post makes huge every time ..it's a curse that you never give me any votes ...hahhahah
I've had upvotes from @haejin, maybe because i don't point out 162 votes as being a negative thing?
i have also been upvoted by @haejin
Great Post and nice picture..
What about Verge?
que bello , que sigan los éxitos
While we wait for greener times collect lots of free coins via airdrops. If you like that check my steemit blog where youll find at least 20 active airdrops.
i do not think so in march bitcoin will hit $10k all predictions gone wrong to much disappointment. more dip could be possible soon. :(
so basically loading zone of btc is ~7k and selling zone is ~12k?
Very nice post I like it
@hajin you are on fire!!!
I see Bitcoin going lower. Volume is incredibly low.
yes, the bitcoin is will up again soon
Hey!
Useful information about the day opening price, for all current and future readers.
Today's date 17/03/2018:
Bitcoin: 8509$
Ethereum: 612$
Ripple: 0,70$
Bitcoin Cash: 998$
Litecoin: 168$
NEO: 66$
Cardano: 0,18$
Stellar: 0,24$
EOS: 5,2$
Monero: 220$
Have a good day everyone!
Have a great weekend haejin
you say you do that to help people. I and many others have lost a lot of money by blindly following you. so we are the stupid ones. you teach in trading now and you say you have 15 years of experience. I have learned a lot thanks to @philakonesteemit and I still call myself amateur but a much better analyst than you now. @philakonesteemit teaches us about elliott waves fibonacci, macd and other indicators. he knows exactly how to buy and sell in detail. He shares this free on youtube and updates on his twitter. All this for free. You do this to make money on steemit and not to help people. from January we are in a bearish. both for bitcoin and altcoin and you encourage people from January to buy further because you say the market is bullish. Stop hurting people and you must follow lessons yourself before make analysis. I follow this men already 2 months and he is realy good. What i lost by follow you. I am making now profit by not follow you and follow this men: https://steemit.com/@philakonesteemit
I've heard that we still might be seeing that 6K dip that was rumored during New Years, but our attention was drawn away due to the roller coaster of a ride that Bitcoin and all the other cryptos have been on. If we dip that low or not, I see some nice and healthy 10K stability for a bit. Thanks for the charts and info! Respect
you say you do that to help people. I and many others have lost a lot of money by blindly following you. so we are the stupid ones. you teach in trading now and you say you have 15 years of experience. I have learned a lot thanks to @philakonesteemit and I still call myself amateur but a much better analyst than you now. @philakonesteemit teaches us about elliott waves fibonacci, macd and other indicators. he knows exactly how to buy and sell in detail. He shares this free on youtube and updates on his twitter. All this for free. You do this to make money on steemit and not to help people. from January we are in a bearish. both for bitcoin and altcoin and you encourage people from January to buy further because you say the market is bullish. Stop hurting people and you must follow lessons yourself before make analysis. I follow this men already 2 months and he is realy good. What i lost by follow you. I am making now profit by not follow you and follow this men: https://steemit.com/@philakonesteemit
thank you share for informetion
i saw 2.3million dollars on the side of my farm, please what do i do with it? should i report to the authorities? am scared.
Good post and very useful...
I like it very much... 👍👍
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