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SUMMARY
Bitcoin Cash (BCH) has two potentials: An Ascending Right Triangle as shown below with a,b,c,d,e and an impulse to $3,177.
The other count is a complex correction the befits the "Hurry Up & Wait" syndrome. Thus the correction could be more complex in a wxyxz format. This means, given the extended 5th wave, the retrace could be deeper. Extended Fifteh waves often should sound the alarm for deep corrections. Once c wave is complete, an impulse should take price towards $2,300. Differnt path but same destination.
The BCH/BTC pair is almost complete with it's a,b,c correction whic was also very deep given how extended the 5th was was. I've labeled the subwaves of wave c. An impulse would show the reversal from down to up.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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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.**
Today is a great day if you're holding BTC and SBD, and a very bad day if you are holding pretty much any other alts. Plenty of "red" out there today.
Getting killed. Absolutely.
Great post! Very interesting thoughts! Would love to hear what you think of my post!
https://steemit.com/bitcoin/@college-is-dumb/bitcoin-crash-sunday-bitcoin-overpriced-investment-banks-manipulating-futures
This is my fourth flag and comment. See the others for how to remove them.
We would certainly prefer the Former.
Love your posts man! Keep it up.
I just threw some money into XVG. Hoping I see some decent return!
thanks a lot for this analysis Haejin!!Much appreciated.
thank you. anyway to upstair!!
Thank you very much for all your posts and help.
Can you please please please do a TA to the entire Alt-coins Vs. BTC ratio?
Thank you Haejin.
But for these to happen BTC needs to breathe a little.
This is so much different then the market we used to know.
The flooding of people will continue and we will see more of this.
The problem is that we have not anticipated anything like this and got caught in Alts and got screwed.
Tell me. How to calculate big waves. I correctly distributed or not?
Подскажите. А как посчитать большие волны. Я правильно их распределила или нет?
Why gave you the people false hope? What is this chart with the BCH-BTC pair. Do you think is it believable? I saw your newest BTC chart that goal is 30K. Can you explain me how could it be possible if the BCH is reaching the 0.31 area on the BCH-BTC chart then why is the goal $2300 on the BCH-USD chart. Can I give you an advice. Check a math textbook, because this way your charts are not on the synchronized way.
Technical Analysis isn't about HOPE, it's about looking at possibilities and finding probabilities. Price projection is not a guarantee. Let's see what price reveals next.
Why the USD and the BTC chart is so different? One of them is completly sh*t if not both of them.
You either ignore BTC chart or ignore TIME FRAME. otherwise all of his predictions will look like sh*t.
Specially with the weirds things going on with BTC atm.
By buying altcoin with bitcoin - you're essentially SHORTING bitcoin.
You do not do that!