SUMMARY
Overnight Bitcoin (BTC) price action hasn't yet resolved whether the C wave of the minor correction ABC is complete or yet. While price went as low as $8,359 (wave 3); the 0.618 Fibonacci zone ($8,200) has not been tagged. IF price stays beneath the 0.382 Fib level; it will likely be repelled in a five wave down move as shown by white arrow in the below chart. Quite often, price will temporarily exceed this level. There is a count and scenario which can technically say the ABC minor correction is complete but that will first need price to exceed the 0.382 ($9,550) level.
The longer term perspective also needs to be taken into awareness. The blue and red lines represent trend lines of support. IF price continues moving down then the 0.78 Fib level is probably the support zone that'll meet the blue line. Given that price has broken down below the white upper trend line; lower low considerations need to be assessed. Still, price is within the time window to retake a position above the white line. Let's see how the day time price activity fair.
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.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
Why people react so aggressive to you?
People do not think with their own head and decisions but prefer to be manipulated by others and blame others.
cryto unprediactable
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
@haejin, make an update on STEEM. Feels like we are not gonna breakout. ;(
thank you yet again @haejin
one thought tho, you should upvote us, so our votes are more valuable for you then as well
money must flow and all that :p
@daab You're so right and it makes the same sense for all of us upvote each other's fair posts.
Just upvoted you both :)
Lets start the chain on Haejin vids!
Most of these TA doesn't work, especially in the cryptocurrency market
My TA work, if not always correct on price and all moves but for the pleasure of mind at least...
Using gravity it should shoot off faster if it goes down under :)
Pleasure of mind is good to have.
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
this needs some attention from @haejin
So does this!!! Not sure WTF is going on here!!!
Very variable sound on the video today?
hy mister
Please help me
Future Mining
thanks for the good information as always
Thanks for the update, watching closely.
thx^^good guy
Great analysis, i just bought some because the perspectives for next week look quite positive.
I think the market will move up back after the correction from yesterday dips.
It good to have a leader who is so passionate about the crypto world, as it is the new revolution.
I have learnt from your posts one or two coin which are very promising that am looking into to invest.
I recently found a blockchain project which was included in the JD blockchain accelerator program, and am staking up on the coin. Hope you won't mind resteeming the post about its announcment to get it to more viewer. It really a good project everyone who have come across it is singing its song. Wishing you more success sir. @paulo380 one of your new diehard fan. We love @haejin
Thank you for your point of view. BTC is in a middle ground for the past weeks it seems, people seem really divided between the bullish and the bearish. I would gladly take another hit on the trend line for it to bounce stronger upwards!
Thanks for the update. What I don't like is that the position of the upper white trend line is very much different from update to update...
Thank you for information.
The crypto market is still hugely dependent on few whales that control the market. It is still taking a long way to make accurate TA to determine the trend of the market.
very nice
Tron was here
Tron was here
Tron was here
Tron was here
I'm so tired of waiting @haejin
When will the upward exit start :)
Tron was here
Hi @haejin
Thank you for the interesting read. Allow me to direct your attention towards the topic of sonic geometry - I see you are familiar with the fibonacci sequence. Also, feel free to drop by @tom-zen for some simple and, to some, inspiring words.
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
Tron was here
Stop pillaging rewards.
Stop pillaging rewards.
Stop pillaging rewards.
Stop pillaging rewards.
as usual... thx!
Nice analysis. You are right it pays to be prepared for various scenarios. We do not know what future fundamental FUD will move the market or when. We can just see probabilities with technical analysis. thanks
I love the power of the mute button. I often seek out differing points of view but the downright nastiness with no logic I cannot abide. Thanks for the insight. I look forward to the morning updates with my coffee each day.
The Mt Gox whale is liquidating his bitcoins. When he is done the price will go back up. Be patient.
Patience is what we all are lacking.
Congratulations @haejin, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 45 and the total pending payments to posts in these categories was $3005.73. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 175.69 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
Thank you for usefule update! :)
nice analysis !
check out my website
https://Satoshipapi.io
@haejin I don't understand how ABCDE triangular pattern correction applies here. As per Fib ratio in triangular pattern to be maintained at .618 for at-least 2 waves but in this case none of them at .618 ratio? Please advise. Also in a forest view wave 2 is mostly always a zigzag so if it was wave 2 @5900 wave C was end of correction right?
Tron was here
Tron was here
Tron was here
Tron was here
Tron was here
Tron was here
