Bitcoin (BTC) Evening Update: Impulse waves 1,2,3 and 4 complete. What does this mean? Check out this Analysis!

in #bitcoin7 years ago

SUMMARY

Bitcoin (BTC) did a quick bullish piercing of the support line and came right back inside to start impusling. To that end, blue circled waves 1,2,3 and 4 seem to be complete and so we should swing back above $6,000 with blue circled wave 5. These will be the subwaves of white wave i and so a correction for white wave ii should then be next as shown in below chart.

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BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
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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.**

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Haejin, It seems to me that I've found something. Please tell me what you think.
Haejin2.png
Today I looked at prices and I've found some similarities:

  1. Wave volatility decreases and it seems that we have more and more troubles as we go higher.
  2. Price movement becomes nearly vertical and very fast, and we know, that this is an indicator of an early end.
  3. Bitcoin loves head and shoulders pattern, and today we have very similar thing. And if prices go lower, then we can expect $4800.
  4. Volume increases when we reach the 4th wave and decreases, then becomes red when we reach the 5th.
    If history repeats itself, then now is the perfect time to short Bitcoin.

Hi @haejin Congratulations once again congratulations my good friend your pictures are awesome and very is very good post too great is your pictures I liked so much that you always upload such posts and pictures

I wish you MASSIVE profits!!

I wish you MASSIVE profits!!

i am concerned...if there is something that can stop BTC in the future !?

I think the BTC trend will be bullish up to the end of the year. The same was for 2016...

very informative

Technically I think we should go down. But those friendly BTC forks are designed to create free money and boost price. We all know so it will beat all charts. I don't think there is a point wasting time on BTC charts right now we all now "when there is a fork there is a way" for price to increase lol!

Thank you!

Thank you!
Could you do a XMR update? It's been very very steady in the market and I wonder what the situation is. Thank you :)

An XMR update was posted like 3 days ago. Go check it out! It's still relevant.

Can I buy you a new microphone?

LOl! Thanks but I have a better headset at home. Audio should get better Friday night.

Hello Haejin, thank you for the update on BTC. I have been following you for a while now and learning every day. I hope I can post a coin request here. I was looking at MTL chart today, trying the ElliotWave theory. It looks like wave 3 has just started. Could you take a look at this coin please? Maybe my count is off as shown in the little chart.
MTL_wave_3_start.jpeg

Thanks Haejin,

I was wondering if you could do an update on STRAT. Back in your Jaws of Wealth you showed an incredible opportunity, but you were predicting a steep decline in price before the jows of wealth kicked in. It seems that it's ramping up pretty hard at the moment, contrary to your last post. I am trying to work out where the best moment to ladder in will be. An update on this one would be awesome!

I think the price will pierce $6000