SUMMARY
For Bitcoin (BTC), the MACD indicator has become a strong friend in providing the early indication (red histogram) and the lagging indicator (white line). The higher lows of the histogram was very indicative from very early that a trend change was at hand. I believe the MACD will support the rally into July and as higher lows and incremental higher highs are posted; it'll likely generate an upward pointing wedge. The wedge will apex into July/August timeframe. Then, another sizable correction of 50% to 78% could be probable. How does this fit into price?
I believe we recently finished wave 2. Which wave comes after 2? Wave 3 and that could be starting now. Since wave 3 is usually the most extended and so moves most violently; it would provide a site to behold in the coming weeks. This is why I believe the month of May could be jaw dropping. Wave 5 could likely go into July/August and when this wave completes; it's when the sizable, requisite correction onsets. The bigger picture is to look at the bigger degree of trend waves. The first five waves become subwaves to a higher degree of trend wave 1 (blue) and the upcoming Summer correction would mark the blue wave 2. Then blue wave 3 could be the pathway to six figures. There is also a bearish alternate count; however, this won't be discussed until the waves and MACD and pattern indicate that direction.
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.
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Superb analysis as always haejin....cheers friend
@haejin do you have a Dash analysis. I was scrolling thtough your posts but there are so many I couldn't find it.
And how's life on Jupiter Station?
Bitcoin - First time in 4 months that I'm turning bullish!
Thank you for the upvote @haejin! That means a lot to me.
Amazing video, thank you so much - love these long term discernment perspective. This is the time frame I like to trade on - we'll just have to take some profits in early summer and BTFDs!
RemindMe! 3 months
:D
Excellent post! I really appreciate when you show us how the sausage is made this way. This is a perspective I hadn't seen yet. Thanks, and keep it up!
Do you suggest wave 2 is minimum going to hit the 50% - 88% because wave 2 usually does that, or is it the rising wedge in MACD that's indicating the depth of wave 2?
Wave 2 for Cryptos usually tend toward those levels. What a buying opps those will be for those who took profits prior to correction!
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Thank you for your MACD analysis!
No chance,i can see btc for jun-jul max 17k
Beware of over the counter sales of BTC to big business. Circle investing and the Winklesvoss twins are selling bitcoin by the billions and the volume doesn't show on exchanges! There alot going on in the undercurrent....
nice to hear that BTC have some momentum. MACD is best indicator for trading. @haejin good job with excellent information. Keep sharing your idea with us
Bitcoin is starting to look good now
Pliss vote back
Haejin, in the short term, I have been looking for a pullback from our recent impulse. Do you think that is going to happen or are we still working on wave 1?
I am a naked trader and possible scenarios for the movement of btc on points 1 and 2 hopefully can refresh in buying or selling and this is not a signal
will bitcoin raise again until over 15k?
Hey haejin, i would like to take classes from you, kindly provide me with the details......
Would be useful to hear the bearish scenario, too.
Excellent post!
Thanks for your MACD analysis!
It is very useful！
Followed you..
Hi Haejin, thanks for bullish scenario. I posted a Bearish scenario a few days ago (before the $1,200 pop). But I still think we are facing a Bearish weekly chart. Chart included here would love your thoughts. https://steemit.com/bitcoin/@vaughnpierre/bitcoin-bear-scenario-usd4372-or-usd2518-is-this-healthy-for-bitcoin
I think it is correct as 70 to 80% will raise bitcoin for July
Great analysis! Remember that we're still early on in the upcoming bull run. Buying at the bottom is almost always impossible
@haejin, would bearish scenario be this whole correction as A of a larger ABC correction, upside move from now would be start of B...? i know, you don't want to discuss it, but just asking. :) Even with such a scenario the B could rise neatly up, time to sell a bit to rebuy at the end of C... there's always a positive side going up or down
Your post is very good!
yo tengo mucha esperanza
Thanks for sharing
Wow thanks so much, Haejin for your great work.
You make me love technical analysis as you said as a quantum event.
By the way great post enlightining about waht is going to happen on the btc.