Wave B seems to be done now. My new target until friday is 10,000$ - 10,500$ BTC
The trendline was breached a little, but we have seen another fake breakout in wave b of B and the decline in wave c of B that followed. Now wave C should be next.
I am happy to tell you, that we are also seeing strength in the prices of SBD and STEEM and that I will make an update about it in the coming days.
XRP might have seen the bottom already @ .56$ and the signs are increasing that BTC might also have found the low @ 6,000$. Why? We saw a big volume spike in the low as it should be. But more importantly the price is very stable with good patterns forming.
I am still cautious, but my bearishness is gone for now as I feel neutral towards the price action. I will just wait it out and count what happens... Stay tuned...
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
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my target is $ 100,000
Let's not get crazy before the impulse has even begun. It is possible though.
I agree I think we have seen the lows now. When things pick up there are a lot more people able to access crypto, so we could see greater gains but I think that will take time.
Nice update, brother! Still a bit confused as to your take on the move up from the $5920.72 low. Is it bullishly impulsive, or bearishly corrective?
I've just posted my take on the said price action in terms of an "hourly chart." You can check it out at the link below, which also includes a Chart-Cast "video" update on all the latest goings on...
I look forward to your response and clarifications with regard to the above. Much love, brother!
https://steemit.com/btc/@passion-ground/btc-elliott-wave-price-targets-and-chart-patterns-plus-a-chart-cast-video-overview
Your d wave (I call it wave 4 of C) does not look harmonic to me. That very short wave c of your d wave is why I am discarding this until proven to be correct.
I am not sure if it is an impulse or a correction. That is why I marked it ABC with the chance of relabeling it 1-2-3-4-5 if we see another move up after wave C. The other possibility that you pointed out already is, that wave 1 is already in @ your wave d level. This would mean that wave 2 follows.
I can't really say why, but my gut tells me this is going to be one of the bullish scenarios. I am staying neutral until confirmation. Thanks again for your video. Please keep it up at a pace you are comfortable with.
Thanks for clarifying that for me, friend. Thank you as well for the encouragement!
Thank you for information..
I think bitcoin will struggle to make the crazy gains it has seen in the past year. Its just so unfunctional. Steem however has a bright future ahead and a big couple of years coming.
You are talking about fundamentals. How does that relate to the EW analysis consisting of drawing random lines?
But they're so colorful and pretty, they must be doing something.
This may be true, but even if it is half as crazy gains or 1/4 as crazy, that's still pretty damn good
thanks for sharing it, great information.
i see the head and shoulders on the fourtly
If you mean inverse H&S, then I see it too.
nice ew technique.. but i think it still not meet it deep yet.
what do you think is possible for march ? I guess 15k easy
I agree with you. It will touch $10500 soon
Btc is very rapidly propagating, and an element in different types of currencies
$10k target?
It's too much. I think btc can cross only $9k.
Interesting to see your new point of view @ew-and-patterns, thanks for sharing it. I have been looking at the price action over the last few days and came out with a slughtly different target, but maybe it's because I used a mixture of T.A. and F.A. as my T.A. is still not great.
Thanks again for sharing!
I think your conversation with jerry did not go too well Luke. You said that you wanna do professional marketing and ads, which (sadly) implied that what he does is not done professionally. I think he did not like your words chosen.
Keep in mind that growth is exponential on this platform. There are various examples for this. Once a critical level is reached it cannot be stopped. First I had 2-5 new followers per day. Now that I have over 2800 followers, I average 30 new followers per day even if I am not posting anything!
It will take some time (probably longer than you imagine) to grow your SSI to what you want it to be. But if you keep it up through the various setbacks, you will get there.
Thanks for the feedback, but I specifically stated the difference between video ads and professional advertisements. I have had multiple conversations with him to try and get some support, and tried to get my point across. I respect his work and mentioned multiple times that he does amazing work for Steemit!
Thank you for the advice; I plan to keep growing SSI day in and day out, and as I said to Jerry, I understand if people do not want to support it, as they have multiple excellent projects running themselves! I'm starting a seperate account for it soon and will still be looking for a lot of support, but I will keep at it.
Thanks for all the great work that you do!
If my growth prediction for steemit and altcoins works out as planned, I will be able to support you with bigger upvotes and a delgation ;-) Let's hope for the best.
Give me a price of 20$ STEEM anytime this year and you will see what exponential growth really means...
That would be fantastic! I am looking for 20K SP delegated as a short term goal (6 weeks to 2 months), so all support is greatly appreciate!
$20 STEEM would be fantastic, I'm planning to really support the people who come in to Steemit because of big price action!
Great information
Through this chart it reflects that you really study the market effectively. And your chart is not rigid and complex to understand, and it nicely explained the combinations of reasons of trends. Thanks for sharing your opinion with us and keepup the great work. 🙂
Stay Blessed.
Interesting to see how this plays out.
I still believe we will see a lower low before we see new highs.
Thanks information Btc is very rapidly propagating
that you share is very interesting
hope u r right... can't wait for BTC to break 10K mark again!
interesting information ..
Thanks for sharing. I happy listening your sharing..
I really would like to see the strength in STEEM too, but it seems to move sideway and doesn´t have enough power to break through at the moment 🤔
Great post. I too feel that BTC is most likely to go higher in the coming days. 10K looks like a reasonable price given then downtrend since last week.
@ew-and-patterns, thanks for sharing, and this information.
Upvote and resteem
I’m sorry... i don t understand your count... is that an extended B wave? Going higher?
It is either wave 4 (ABC) or if the low is already in, wave 1 (1-2-3-4-5-ABC)
ok ... so like this scenario 1?
i don't understand why is not wave 4 finished?
and bullish? how?
I cann;t count this as an impulse ever.
there is overlap. if not there is overlap in the extended wave.
if you count them as 2 impulses the corection of the second overlaps with the 5 th of the first makeing it an 3 wave ABC
Your wave 5 has 3 waves which is impossible. It is likely wave b of B like shown in my picture.
In corrective waves overlaps don't matter at all.
Wave 2 was short so wave 4 is expected to last longer and take more time.
I totally agree with your way of seeing the chart. The only option, that I also note in my analysis is that the linking A-B-C between the ZizZags is already finished:
I do not see any clearness in the A 5-3-5-3-5 and B 5-3-5. There is a bit more thoughts in my previous post, please see, if interested.
Thanks for your analysis. I never read your post before posting mine and enjoy, when finding similar ideas here!
Good luck, @ew-and-patterns!
I understand that, but it would be a rare very short wave C in comparison to A. Doesn't seem harmonic.
Agree, but A is also not very harmonical 5-3-5-3-5
Is that a head and shoulder between 2nd-10th of Feb?
Yes, if you mean inverse H&S. Watch my most recent update.
It's definitely in an uptrend. 6000 was an important fib level, we bounced strong, and have made higher lows and higher highs ever since. If I had to guess we re-test 20000 in the next few months. #upvote #resteem