SUMMARY
Bitcoin (BTC) could have put in the first set of five waves and so would need to correct more than it has now. Notice how price had been traveling within the parallel channel which is indicative of an impulse in motion. Now, price has gone below the lower white line and so the red ABC correction is a probable scenario. However, this is a very short term perspective. Let's take a longer term outlook using price, pattern, Elliott Waves and Indicator.
The mst prominent is the MACD..look how it's coiled and obeying the contracting blue line boundaries! There could be a few more wiggles but as it gets more proximal to the apex; the likelihood of a blow out breakout is high. This is not screaming a crash scenario but quite the opposite. The Inverted H&S is also in progress and hasn't changed much at all. The minimum run is projected to $17,331 and is expected to be exceeded. Video has more details!
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
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This guy has never drawn a downward arrow in his life
LMFAO, totally right.
I wish he would. 99 out of 100 of his up lines are BS. If he would just draw a single down line, that would probably be all we need to send BTC back to $20K in just a couple of weeks.
@Haejin, your TA for bitcoin lack sincerity these days. And your TA is not right well, you know.
And for most part about your TA, you always say it will be up, and you say Kaboooooom after a long time, although price go down and again up.
you know, cryptocurrency increases in value certainly, so cryptocurrency increases in price sometime or other.
i look forward to detail TA for bitcoin, and it will be right.
i hope you well, and good luck.
Bitcoin to the MOON!...:)...
It seems like lower white light isn't attached or in relation to anything?
Awesome observation, the lower white line is completely 100% arbitrary. And that is supposed to lead to any conclusion that has any merit? You have just outed haejin as the faker we all know he is
Check out the J-curve at the end. J-curves usually produce massive gains. So be prepared. If you get the chance, check out my blog about it at my profile page.
15th May bitcoin cash fork
Thank you @haejin, I would love to see an update on VeChain (VEN), and Firstblood (1st). Thank you.
La información que proporciona su es la mejor.
@haejin I see that the end of the graph has an exciting j-curve. Those have a big habit of producing explosive gains in cryptos. If you see any more, let us know, especially in the cheaper cryptos. Thank you. I posted a blog about the J-curve. I'm not posting the link here. It's in my profile, for those of you readers who want to see it.
I think we are finished with the A wave and are in the process of completing the B wave.
for sure dear, its time to rising btc and the genius persons will buy it before next level.
Thank you so much!!!
Interesting to see your POV correlates with @lordoftruth I'm personally looking forward to the buy opportunity that is coming up.
lets hope this dip happen this month andwe see that rise beyond 10k by mid June.
let's vote together @zuhrafriska
wow thanks
Just break 10k already!
Price looking bullish
I remember it taking ages to get to 10k the lasts time however 10-20k was way quicker ...... I'd take that again !
It seems like BTC has found it's momentum and is no rush haha
Help Me give away some free money!!! https://steemit.com/crypto-news/@breadapp/the-final-week-of-the-brd-airdrop-is-here
Read here more detailed TA for Bitcoin with buy zones, support zones, stop loss zone and possible timeframe. https://steemit.com/bitcoin/@linko-crypto/btc-bitcoin-usd-09-may-2018-correction-in-progress
All time new... Me too :)
thank you for this summary :)
Thank you for your good post! Great to have people in this community who cares about cryptocurrency and provides useful information! By the way, I post cryptocurrency analysis posts daily, you more than welcome to check my page @syeedhossain24
Bitcoin has the right balance of pros and cons. That's why it's so popular.
Great analysis
I really respect this breakdown of cryptocurrencies, I have done a similar breakdown but from a slightly more humour based point of view, please feel free to read it, and laugh :-)
https://steemit.com/funny/@georgemason/the-number-1-reason-you-aren-t-getting-rich-from-bitcoin
Upvoted :-)
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@kumajin you're on the @abusereports naughty list!
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Thanks for this let's hope for the best mate.
I think that bitcoin will rise
let's hope for the best!
Thank You so much for posting this article! I really needed such an informative article. I learned about Elliot Wave Theory recently. Let me view your that articles too.
Thanks for this
Thanks for your TA and thoughts. Its always good to compare notes. Cheers!
Great video. I am learning so much from you. Thanks for good information and for explaining graph.
ahem... Kaboooom: Goldman Sachs website: http://www.goldmansachs.com/our-thinking/pages/blockchain/index.html
Hey, WTF are you doing man?? You are posting a link to real factual information.
Totally out of place on the haejin thread.