SUMMARY
Bitcoin (BTC) was shown as potentially putting in an impulse as shown in below chart. It would allow price to breach the upper blue line and initiate a trend reversal. However, if you've been following my posts, this had not been my primary count because a trend reversal so far from the Apex of the blue triangle wasn't ideal.
Besides, the current price formation itself looks like an upward pointing wedge which bodes lower low probabilities. The red abcde waves are all complete except the e. This could lead to a temporary breach of the upper blue line but not a decisive.
From a larger picture perspective, the Waves and Pattern is tending towards the blue e wave being a lower low in the range of $7,600 to $7,250 or so.
The logarithmic chart is little changed. It holds the $7,622 or so as the point where the first longer term trend support line resides. The downward wedge's apex also resides at the support line. It'll be interesting to see how price action plays out overnight, should this longer term support line be touched.
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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Buy the dip, always the best strategy.
only if you still have cash...
This time, it will go below 6k within a month.
Great post, our charts are identical.
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No matter what, this correction is temporary and we will go up, maybe even 90k by 2020? Can you say Fractal?:
Yes @tokyoin, bird’s eye view. Stock changes always follow certain patterns but historical data have shown that well established stocks don’t just “disappear”. And the trend is almost always increasing due to growth or inflation.
Very nice chart.
Can you give a link to the source of it?Thanks.Where did you find this graph? Is there a larger version?
https://bitcoinschannel.com/wall-street-fund-predicts-a-91000-bitcoin-price-in-2020/
A value of more than 50,000 U.S. dollars is good, the value depends on the demand, the demand is resolved by the peers, and the value naturally goes up.
Thanks Haejin! Fuck these haters! I'm muting all of them. Not interested in their perspectives which is why I'm not reading their posts...just as they should do. We are here for you, and we appreciate what you do.
Lol, almost every prediction he has made over the last 2-3 months has failed miserably.
very wrong, again..
https://steemit.com/bitcoin/@bryanalighieri/three-drives-reversal-bitcoin
No matter
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Coins mentioned in post:
Great Post! I have two questions based on your graph:
😎😎😎
Price correction of btc will ofcourse make many persons rich, lets see what happened in future
as I said, we will see the bitcoin at 6.000 $. In general, I still see red numbers for the march. But that is no concern for panic the market will come
Amazing
Hopefully Bitcoin stays strong I just began my portfolio challenge! Check it out: https://steemit.com/crypto/@pyrrhic7/can-a-newbie-dump-eur3000-into-the-bear-market-and-survive
Material of this post is good with much more information about the fluctuating values of Bitcoin...
HAEJIN LOGIN: Zenj+t#x~K#?EPXp/2>?,'A!S>LaDneqQSXt?SadUQ4Xt{vRe+
Bottom line: nobody knows. This is new territory. There is no bearish case for Bitcoin. None. All of the big moves downward are big money trying to kill the competition. https://steemit.com/bitcoin/@chucklinart/what-s-the-bearish-case-for-bitcoin-again
Get your today free tokens with the new airdrop opportunities, check this telegram channel https://t.me/gtga_channel, new updates every day
wew, is down ? not up :)
is it time for buy hehe
I wish you and your family good health.^^
NEO, XLM
We request analysis.
Haejin, I've been reading your posts for past 7 months. You had some good recommendations and I am very grateful for that.
Nevertheless, all your TAs you posted during last 2 months failed big way.
There's been blatant manipulation lately using the Mt. Gox bitcoins. I'm guessing that TA does not work when a big actor in the market stops caring about profits, and only wants to crush prices.
Nice post @haejin related to bitcoin hipe in whole world,actually we don't know whats next move of its high or low. I resteemed this post because its good.
The value of bitcoin has held reasonably steady in recent weeks following its rocketing value over Christmas and jittery plummet back to earth in January and February, as governments and central banks around the world continued to raise the spectre of future regulation.
The volatile cryptocurrency’s value has shifted wildly ever since mid-December - when it hit a record high of more than $19,850 (£14,214) - with frequent heavy drops and speedy recoveries.
Bitcoin’s value plummeted again shortly before Christmas, dropping by almost $2,000 (£1,449) in just an hour at one point, and almost slipping below the $11,000 mark (£7,970).
8,196.1
@ipostbtcprice Are you so dumb that you think people need to know the price how many hours after it was posted? Do you not think people are actually watching the price before or after @haejin has posted his TA. Please tell me exactly what it is you think helps people with these price quotes. Do you also not realise that this information (spam) is as worthless as me quoting the nasdaq? The only price that is relevant is the price at the time of looking. Not what it was 1,2,3,4,5 or how ever many hours after. In short the price is what it is all of about a few seconds, till the price changes. You could become a talking price bot, but I think you would run out of breath trying to keep up with the price! hahahahahaha
HAEJIN LOGIN: Zenj+t#x~K#?EPXp/2>?,'A!S>LaDneqQSXt?SadUQ4Xt{vRe+
That's a reason? That still doesn't explain your post. Surely the whole point of looking at a price is to view it on a chart. the way you do it doesn't make sense. Watching one month old posts and not realising it is another matter. Maybe cut down on what you watch, it obviously doesn't help! All you need is @haejin. A polite thank you after watching. But seriously please stop with the price at post BS it is childish, and just maybe people aren't as dumb as you or as you think they are.