The TREE COUNT for Shorter Term Traders:
The blue lines show an uncanny wedge pattern and this fractals well with the white wedge to the left. IF the price rise following the white wedge is any indication, then some exciting moments could be ahead as price is in close proximity to the apex. The only caveat is that the blue wedge is not being accompanied by declining volume. IF price breaks down below the lower blue line, then the white horizontal line as the Neck Line to a smaller H&S Top could take place. Price action ti'll tonight could provide the resolution.
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Elliott Wave Counting Tutorial #1
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RESTEEMED. Thanks for the Info. Bitcoin is racking my nerves right now along with all other cryptos. What kills me every time is when bitcoin rises or falls EVERY crypto follows. Oh well, one day Bitcoin and the rest will shine once again. Cheers.
1 BTC = 1 BTC, how the altcoins act in relation to BTC dictate how to treat them.
@crowe, the market has a Bitcoin dominance yet and almost all initial transactions involve Bitcoin. The market needs to become more mature and independent.
I so agree.
We should get out of the first waves to the next level. Then, probably, altcoins and bitcoin can start to live their own lives and prices are not going to go down any lower anymore.
Haejin, I've been devoted to learning everything you have to teach since I first opened this blog; this was one of my first attempts at a long-term forecast
15 days later and all my points are hitting spot on; I have to thank you leaps and bounds for sharing this skill. You're right true happiness comes from learning.
#BTC continued its decline and is now trading near the $ 9800 mark.
There is a possibility that the cue chart, like all crypto currencies, formed the "bubble blow off" scheme. This has already been two times: a fall from $ 32 to $ 2 in 2011, and a fall from $ 1175 to $ 230 in 2014.
Now 2018 and I'm guessing blowing from $ 20,000 into the $ 4000-5000 zone. Yes, there is a future for bitcoins, but realities at the moment are not the most positive. As they say, everything is cyclical. And now. The market punishes the weak and greedy players.
From a technical point of view, the trend is still downward, the trend line is not broken, and therefore further decline looks very logical.
Alt coins are setting up the exact same way - I think we're about to see some Market Cap boost
This looks very realistic now, I'm turning away from the broadening pattern I proclaimed yesterday myself as it is too deep and ABCish.
How do you label the waves in here @haejin?
I trade FOREX in terms of conventional currency like GBP/USD or EUR/USD but I am still pretty afraid to trade crypto. Good info right there. Please check through my posts and upvote or resteem as you see fit. Thanks
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Thank you for removing Yook Sungjae's (from group BtoB) photo from your profile and getting a new one!
Thanks Haejin for the added information about the volume.
thanks for sharing this information i really like it. good work keep it up.
Thank you for the update! I appreciate the more frequent updates on bitcoin... I was playing with alt coins more than BTC and was getting frustrated learning TA because BTC has so much influence on the market. Switched my focus to Bitcoin and ended up learning at a much faster pace and truly appreciate your expert insight! Keep up the amazing work and thank you for sharing your knowledge :)
The bitcoin cryptocurrency is now a scary game. Following the recent drop by more than 5 per cent over the past 24 hours and more than 3 per cent over the past seven days. Over the past month it has declined by more than 11 per cent.
I think we double dip.
감사합니다.
Spread coin is impulsing. Can you please do a quick update on it?
Nice post
Can you view my post pls and upvote?
https://steemit.com/life/@peculiarmary/life-is-two-ways-stay-down-or-bounce-back-e910c14803827
I don’t understand. Why do you stop doing Elliot wave count all of sudden and go to wedge patterns and fractals only? Shouldn’t primary count be based on Elliott waves and fractal, wedge should be secondary?
Probably because we are in changing market trend and patterns are better for predicting which way it is going to turn next.
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Thank for .your sharing😍
That's a lot o' spam!