SUMMARY
Overnight, Bitcoin (BTC) has continued its price corrective action and it's quite healthy to see it doing so. I wanted to share with you a new fractal and so to cut to the chase, the below chart holds the white and yellow boxes. Note that the yellow box contains a Head & Shoulders pattern that didn't deliver the expected price decline; thus was invalidated. The volume also had NOT confirmed. Now, the yello box contains a potential fractal in development. Note that the LS and H are complete and the RS is still in progress. IF the fractal relationship is correct and holds; then, as the white arrow shows, higher highs are likely. Thus far, the white fractal also does not provide a volume confirmation.
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I give you the whole H&S in one frame. Please comment and share your opinion. I am not saying it will happen but looks really pretty @haejin
Your chart is highly hypothetical, nevertheless it should be taken into an account as one of many other possibilities. Thank you.
I would say so. To get a mirror image is highly unlikely but we can take an idea of the wave pattern for future. but the correction after wave 3 ( blue wave 1 - abc wave 2 and white one wave 3)which will take us in to August - November and then we begin wave 5 which will be take us well pass 30k mark. I think BTC will pass 30k at the end of this year or beginning of the next year.
I like what you did there.....although time is very hard to predict, I came up with a similar scenario a couple months ago, check it out....Volume does confirm the progression of the formation so far. Good eye!
https://steemit.com/hs/@scarlet7/hs-inside-hs-inside-hs-inside
https://steemit.com/btc/@scarlet7/just-another-btc-chart
fractal on fractal, fuck just pump this shit to the moon again
Do you really think one's person's bullish opinion is going to make a difference in which direction Bitcoin is going to go with $150 Billion market cap? And why are you so offended if someone has a different opinion?
Information is very useful.
Thanks Haejin,
question to you and the community: What do you think about the following chart?
it's wrong. what kind pattern is a, b, c of B you showing. . b of B can't have 5 waves either B can have a 3-3-5 or 5-3-5.? so small b can't have 5 waves as you shown here. got it?
I think the price is not stable ,rise and fall in the place of price determinant ....just some thinking
Puede estar formando un triangulo bajista en 1h?
yea,bitcoin is one of the best crytocurrency so far ..this information is very useful thanks bro
Yeah, well, you probably wrote this before the news about MTGOX :-(
https://www.trustnodes.com/2018/04/26/mt-gox-trustee-moves-150-million-worth-bitcoin-bitcoin-cash
So you really think such amounts of BTC (and such transactions in cryptos in general) are processed through market places?
When someone wants to buy a hugh amount of BTC (read hundreds of thousands at once), the transaction takes place off the market, directly between individuals or corporations. One does not simply go on Bitfinex and purchases 16000 bitcoins at once. That would not be interesting for neither the seller, nor the buyer.
This allows for a pre-set price transaction wherein both parties are winning.
By the way, as far as the person/corporation who got those 16,000 BTC, do you really think he/she/they're gonna sell them off right away, just when BTC's rising again?
Last but not least, 16,000 BTC is a drop of rain in the ocean. Just saying. That may move the price down from a couple hundred dollars, IF the owners wants to short the whole thing in one single transaction, but that's it.
Oh, and also: we've passed the symbolic bar of 17,000,000 BTC in circulating supply (out of 21,000,000). So again, may I ask what's 16,000 BTC ?
16,000 BTC is one one thousandth of 17,000,000 (Circulating BTC). Just sayin' because some people are extremely bad at math. Maybe they are the ones that think Bitcoin is going to $2,400???
I get your point, and I really think the same, but the FUD is enough to drop the price. and we know that it's not always rational.
but yeah, since everybody is so bullish, maybe we'll not feel the FUD :-)
good informatio for steemians
I like your post very much to me. I hope this is always better post than ever.
I feel like Smeigle with my bitcoins right now, I don't ever want to part ways :)
Bitcoin is an innovative payment network and a new kind of money.
Dear @haejin
@haejin bts update please!
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Coins mentioned in post:
Great article, thanks for sharing. I've smashed the upvote button for you!
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Hey Haejin, thanks you as always; would you label the sub-waves of Wave 1 for us ?
disapoint
You're on the @abusereports naughty list! Bad Steemian!