SUMMARY
I analyze Bitcoin using an umarked, unlabeled chart so as to gain ah ha moments and thus discern what wasn't before with regards to patterns or Elliott Wave counts. In this video analysis, I present a very interesting fractal that supports my anlaysis of the Expanded A,B,C correction. The below chart present two fractals. The left blue box contains the rectangular channel like the one in the white box. The pior two peaks before the channel are also similar for both fractals. These support my primary count for an A,B,C Expanded Flat Correction. Why an expanded flat? Over the two years or so of Elliott Wave counting cryptos, I've noticed the these flats are quite common on daily charts....much more common than in equities. The same for extended fifth waves on daily scales, it's very common for cryptos, more common than in commodities and much more common than in equities. I've also compiled additional Elliott Wave nuances and personality traits of cryptos and will share them as additional data comes in to support. The video has tons more details.....enjoy!
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BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: 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.
I think the most important fact supporting the expanded flat projection is that this b wave up has the typical corrective structure. You don't see any strong moves up anymore. Just slowly dabbling up. This is a sign of internal weakness of this move up.
Well put. Upvoted comment!
Yes, definitely not actionary waves for current B Wave. Though it might fool many into thinking that alls well should BTC crawl to a new all time high only to devastate their clear sky expectations with a crushing C Wave down.
Yup, not many will expect a huge drop after the new ATH
I just can't understand why. The ebb and flow of life is only ups and downs. And to different degrees. I mean I could almost label a crypto chart with the ups and downs of my life experience. Ups and downs. I have only been trading cryptocurrency since June 1st and it seems natural to me that the action of a coin shorting up in price will draw an opposite reaction of it falling. It's all fascinating and I love the dialog. Thanks you two!
Sometimes I can’t watch. Then textual explanation is useful
Please check again. I entered text details of my analysis!
Following!
Thanks for the read. If the analysis helps, please consider following and or upvoting. Also, the aim of my blog is to provide 100% free, 15+ year experience based Technical Analysis. In doing so, my objective is to help and do no harm. So, if you'd like a crypto fully analyzed, please feel free to request.
I need your opinion on ebtc, it got a lot of hype and reached 80c now it's at around 25c. Should I sell ?
Got it. Thanks for feedback! Will update.
Thanks again Haejin, can you do a short update on xvg again.
thanks for sharing keep it up
Hey Haejin what is your gut feeling on when B high will be complete ? Do you think this is likely to coincide with the Bitcoin Cash Gold Hard Fork i.e price will pump and then people will dump after they receive their free Bitcon Cash Gold, taking price to $2000 region ? If so what will be strategy to get out ? leave yout BTC on an exchange for quick sale ? cheers Upvote and resteem as usual
Coincide with 2x?
that's what I am thinking. It seems the obvious event to occur to confirm your technical analysis.
question is do you leave BTC on exchange for a quick sale when price turns ? If its stored on cold storage it might take too long to sell before downturn ? what do you recommend ?
Thanks for the post. As always your knowledge is a gift for some of us. I am wondering, why your TA is CC vs USD? do you think BTC vs other cryptos cannot be analysed yet? or is it because the money flow is on fiat, so easy to predict?
Thanks for everything again!
Best Regards!
Hi Haejin!
What do you think of this? if you think this is invalid please tell me why.
If this is somehow correct the target is higher than what you say in the video at around 6750.
Thanks