SUMMARY
Bitcoin (BTC) thus far has turned back without touching the upper white trend line. While using the angled trendline is quite common, incorporating the horizontal support levels is as effective. The below chart shows that the topmost yellow line coincides well with the 0.618 Fibonacci zone of $8,200 or so. Recall that the relationship between waves 1 and 2 are that 2 can't equal the origin price of 1.
As posted earlier, the $8,200 zone could be targeted. Elliott Waves have show the impulse down pathway for wave C of the ABC correction. So yes, this would mean a lower low is likely to complete wave 5.
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.
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I predict bitcoin next week to 10k...The 4 hr chart looks bullish so looking for a slow up trend
Interesting. Can you elaborate?
Check out the 4 hr MACD. It starting to up trend for next week..
@HAEJIN - You Should Watch This Video
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Agree. We could be testing this Fibonacci again. I'm having people understanding why people wanted to buy at 17,000 and now why they want to sell at $8-9k. Stomach the volatility, and it'll pay off. HODL
The closes are lower on the day and the week. The drop will probably test Fridays lows in the next 24 hours. And probably deeper before before a turn around. Once again I will mention Bitcoin went up unbridled last year. Now we have options where it can be shorted. The scale has changed from people just buying and holding. Now we have people actively playing shorts as well as longs. I had/have a un-reached target below February's lows. Those closes being lower can be very strong.
I have another interpretation
The bearish volume is below the average and falling, can not be an indicator that the bearish momentum is running out?
We can take the last moves as the first 2 waves of a 5 bullish momentum
If fulfilled, we would return again to 10,000 dollars
I hope you’re right. These price drops are killing me!
Hold, Hold and do Meditation
If you have enough fiat and a stable income to live off of, this price drop means absolutely nothing. When everything drops at the almost the same rate all you need to worry are the exact exchange rates between each crypto you are holding. Just pay attention and increase your portfolio. 5000k or 15000k you still hold the same amount of BTC or whatever.
Fiat will stop being a big factor very soon. Why panic and give away your coins for fiat when youre here tasting the future.
Haha. Sure. Buying in is another story. The panic fueled sells another.
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Thank you, great stuff as always.
Thanks haejin. Looking forward to resuming the uptrend asap. Can you see a scenario in Verge where it drops back to 1 cent?
Verge analysis coming later tonight.
Thanks been waiting on verge and BTS for a while
BTS still finding its lower low while waiting for BTC bulls run.
@haejin posted BTS yesterday I think
He also posted bunch of bullshit too big deal!!!
@HAEJIN - You Should Watch This Video
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As usual solid work, thanks very much and enjoy rest of your weekend!
Regards.
shorting for the first time, good momentum to learn :-)
thx Haejin!
Perfect! THX 👀
no perder las esperanzas
For all the XVG (Verge) hodlers and lovers! We are in the buy zone to a expected 400% profit, very soon. Read my T.A, feedbacks are appreciated! XVG TO THE MOON!
https://steemit.com/cryptocurrency/@lucasfonseca/xvg-btc-ta-verge-is-forming-an-aggressive-9-perfect-time-to-buy-expect-400-profit
Please don’t advertise in the comments. Next one will be downvoted.
@HAEJIN - You Should Watch This Video
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First of all, thank you for this informative post! This really helps enrich the content on the Steemit community and helped myself and others surely learn something new today!
Good stuff....HOLD
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holaaaa estare apoyandote..pero apoyame y vota por miii ...este es mi blog https://steemit.com/@rosalindabencomo
Excellent, very nice post, I am very interested in these images, I will continue to study to become a professional stamians, I hope you would give me an upvote though only once, may your success, over all, thank you. -By. @zayanfaruk
If so this may be the last chance to get in... let's see if the trend line holds
Hola.
Gracias por la información. Pienso que el Bitcoin tendrá rebote y llegará a los 10.000.
Saludos
Excellent.
But, how about the credit level?
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