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SUMMARY
Bitcoin (BTC) continues to trend well within the parallel lines as initially shown yesterday. Again, when price traverses inside a set of parallel lines, it is often indicative of an impulse and I think that's exactly what the bullish case needs. So, as shown below, is it probable that price is putting in the wave iv? I believe so. However, there still remains the scenario for the upper channel to be breached for the trend to set another trend line. Once wave V becomes complete, Elliott Waves states that there is a requisite abc correction. At that point will be a bit of critical juncture and for now, I've added the standard abc. More detail will be provided in this correction scenario in today's mid-day update.
The bigger picture (multi-Weeks time frame) shows that should price reach wave V as shown in above chart, and the correction proceeds as expected; then the larger bullish, Inverted Head & Shoulders becomes very attractive. IF this pattern completes and confirms, the minimum travel distance would be to $18,118 and as most minimums are exceeded, all time new highs could be tagged in haste. However, from now to the completion and confirmation of the larger inverted H&S; much must take place in price action. So, incrementally, let's see how today's price wiggles and twists.
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 shoud not be considered financial or investment advice of any kind. One should consult with a financil 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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BTC/USD
Technically correct in that the rules are met; but form and fit-wise, I believe 3 should be 1 and 4 the 2; etc. These labels also flow well within the parallel chanel as I had shown in update.
BCH/USD
BCH/BTC
The breakout of the channel seems decisive! Start of an impulse?
Remember not all triangles have to display abcde; 30% breakout at the wave D stage like BCH did.
Yes, the abcde triangle will allow the time pacman.
Keep going higher so I can cash all the way out! BTC will make Bitconnect look like a kindergarten math class!
Someone oughta do a new version of the Doors' song: Waiting for the Sun, because now we're all just Waiting for the Moon! 😂
Why is this minnoewhatever trolling my comment?
Thanks a lot for your information.
Waiting for the 18k mark.You are always spot on with your calculation.By your post lots of people will be benefited.@upvoted and resteemed
Make sure you study Haejin's tutorials, it is even better to learn how to calculate yourself.
Here's my charts, not far from the teachers masterplans :)
https://steemit.com/bitcoin/@thedolphin/bitcoin-update-16-feb-18-bouncing-time-around-usd10-000
I'm guessing the price will go up to $11K , then it needs a high liquity to go higher.
If it didn't get this higher volume, it might go down again.
But not sure of that.
Even though you are not a financial advisor, your analytics are very helpful.
Does anyone think this is just a bull trap?
Thanx for the update!!
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what the fuck is that? sorry my arabic
Very good....
Wave V would be awesome and get us all back on track to where we want to be. @dan21050
good job @haejin
bitcoin is best cryptocurrency in the world...i love bitcoin..
thnx for share this post about bitcoin.i always with you..keep it up
I love cryptocurrency news and love to earn and try. Because the cryptocurrency can change the financial condition of the people very quickly. Your post is very important and useful. The information that you have on this post is very useful for many of us. So I hope your post will be very helpful for us
Postingan yg selalu di tunggu, thanks bro ...
🎃 enjoying & exceptional!
Always enjoying your analysis. Good work.
Good if it still remains bullish.
More investors are joining the bit coin market.
Thanks for the update.
Great job!
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Bitcoin headed to $12,600 by next gov't shutdown date ...and then???
https://steemit.com/bitcoin/@stew/bitcoin-headed-to-usd12-600-by-next-gov-t-shutdown-date-and-then
That top line is the upper resistance and at the $12k or so junction we'll find out whether this is a B bounce or a real breakout towards all time new highs. My primary count is the latter.
I think there is not a divergence between trend and oscilator. This divergence gives us a hint about inclination about price movement. I think we have to wait for btcusd ‘s next movement and wait for clue about trend
I prefer to use divergence on MACD. Stochastics move too fast; even the slow stochastics. But, yes, that is a negative divergence. If this is a 4 hour time frame, it could mean a minor correction coming. But minor, most likely. As of writing this comment; i believe that minor correction is complete.
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Very good!
so i love TA, but every time i watch it all unfold its just a shit show and you just cant predict what will happen! you cant predict the weak hands and the folders and you cant predict how much the bank puts in when BTC dips to a new low to control more (yes i believe they are getting involved) :P but other than that i still love your TA and thanks for the post buddy