)
SUMMARY
Bitcoin (BTC) overnight price action updated the position of the c wave of a,b,c. The correction is clearly executing the "Hurry Up & Wait" syndrome. The green horizontal bars show the difference in time with regards to how long it takes to place the impulse waves vs the correction. The green bar for the correction is about 1.618 of the impulse time. My primary count is still higher highs.
A probable pattern is the Cup & Handle as shown below. Now, this pattern is not as common for Bitcoin as it is for the altcoins which show it at every opportunity. This difference is due to sentiment segmentation. It's similar to preferences. In a group of 100,000 people, 40% might like icecream more than chocolate. This segementation of sentiment can be reflected in the sales of ice cream vs chocolate. The same is happening with chart pattern preferences.
The below chart shows a Head & Shoulder bottom pattern which price could morph into. If so, the minimum price run is $19,108.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
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.**
Bitcoin had a huge cup and handle pattern around 1k price where the cup was the the price from 2013 bubble to 2016 1k run and the it retraced in a big handle before then shooting up later in 2017
yes now decline is very likely .. & soon going to happen
People said that a month ago...and it lasted 2-3 days.
KABOOOM ! Game Units can't wait for a update!
Finally something about TA I can understand...ice cream!
haha, good one!
lol
what do you guys think about this?
Ive been looking at this for a while and I think its done now.
@haejin, I think you posted something similar a few days back and it looks like this has been very accurate so far. its been fitting the form alot better.
Also, its an ABCDE, yet its an upward pointing triangle? considering other alts, maybe BTC will go into a slight correction and allow alts to really shoot up alot?
Ive begin to notice alts are becoming a LITTLE phasic right now with BTC.
they're holding their ground. I think so because my portfolio didnt collapse when BTC shot up over night as it usually collapses lol.
Nice job keeping an eye on various possibilities. What happens at the end of your triangle will provide more information on where BTC is headed.
Hello Haejin, vedio is not available.
Guys, pay attention at PAY. It will have a nice move soon.
19108 target & resistance i feel based on charts 19800-19900
Two scoops please & Can I have some more?
Check out the patterns within patterns in STEEM...it will be unstoppable, especially as this is the smaller cup and handle.
PS: Learnt everything from Haejin's posts. Recommended books are ordered and will be delivered shortly. Thanks Haejin. Beer money is on the way to you.
apart from techincal .. fundamental says decline around XMAS , will sell rest of BTC & enter to TRON with full pace .. m not having patience to rise of BTC another 100% from price in next 1 month ,,, but TRON CARDANO & STEEM finally on my radar
Just sell all your BTC to buy BTS, thank you! :)
couldn't agree more
After this next wave for BTC BTG and XBC, I might just do that.
The best advice I have ever heard!
Video is unavailable.
KABOOM!! @haejin, as usual, you are the man!!! Though your wisdom is slowly rubbing off on yours truly, please don't stop sharing your gift for TA!!
XVG and ADA and XRP, to name a few, have been outstanding buys thanks to your sound advice!
If I may, could I ask for an update on CVC please? I feel like it is due to break out, am I right?
Hi haejin,
if you have the time can you please take a look at Monacoin, it's not done much for the past few days while all other alts have increased in value. However looking at the progress I calculate an approx 3000% rise since October so maybe it's done for the year , I've tried to apply what knowledge learned from you to the chart but I'm just learning so not confident enough to invest just yet. Thank you.
Hi Haejin,
The video is not available. Thank you for another excellent analysis.
OMG update?
I agree.
I've been using the Coinbase chart and mine looks much different.
[IMG]
[/IMG]
BTC on Coinbase chart is playing out as previously forecast. :)
My final target on this last break out. My best effort based on my limited knowledge.
8:57pm update
Is there a dip to come???? At what levels??
@haejin video is unavailable :( please re-upload, I need my daily dose of Haejin TA!! :)
Thanks @haejin님. I'm watching your coaching videos and learning it. In korea, there're more time to get your recommending books, but I would get that someday. And one thing you saying is very clear and ding my bell in my brain. Yes day trading is very boring and hard job. Go get some life.. Thanks.
doge....kaboom!!!
Master @haejin called it about a month ago! DOGE
Haejin, seeing that ETH is the number 2 coin, why don't you provide more frequent updates like you do with BTC?
And ripple as well!!! PLEASE
I need help and Your oppinion @haejin @solisrex
I laddered out too hastily from XVG thinking we're at at end of D in ABCDE triangle. Already laddered in on wave E that could take a month or so.
As You can see top of triangle was breached quite decisively. Is there any TA way to discern whether it's still ABCDE or maybe it was ABC and the train just moved along?
On the other hand, big trend in BTC-USD looks like it's the end of extremely extended 5th wave, right? So the big correction should happen, that could coincide with E wave in symmetrical triangle on BTC pair?
What worries me is that triangle was breached, no by pennies, but quite decisively.
I'd greatly appreciate Your thoughts.
Omg need to stop looking - 15 minutes went by and price is above 170 SAT now :P Hurts a bit, can't say it doesn't.
[EDIT] literally 15 minutes later - price 184 SAT. Incredible.
[EDIT] another 1,5 hours and we breached 190. Unstoppable!
[EDIT] 3 hours from initial post - 205. FOMO is easier than KTYMO (Know That You Missed Out).
[EDIT] Just to document - 5 minutes later, 215.
[EDIT] Another 5 minutes - 235.
hahahhahaahha
Believe me, it was like selling a horse one day, because it's tired. You see first traces of foam getting from horse's mouth, You think it's gonna drop soon, so You sell it. Since it was super fast, You get good price. Secretly You're laughing at buyer "Jerk didn't see foam in horse's mouth"!
Next day You see the same horse winning Kentucky Derby leaving competition faaaar behind and it's clear then that the foam wasn't meaning he's tired, but... BATSHIT CRAZY and super fast at the same time.
New owner looks down at You circled by beautiful girls, with custom made swiss watch.
Then You start foaming from Your mouth.
That's me this day. :-DDDD
What is your count for quantstamp?
Thank you!
Check out CTR (centra tech) looks like it broke out of it's downward pointing triangle.