I've written and analyzed about an approaching wave III top which would lead to a wave IV sizable correction. My first call of the top possibly being in at around $3,600 was easily exceeded by Bitcoin to $4,500 (Bitfinex prices). As there is no perfect in any TA, my targets and projections are my best probability calls. I'm not trying to pinpoint the precise top as that's a fool's errand. I'm trying to peak around the corner for the turning signals. I'm not a soothsayer nor do I read bones or tea leaves. I use Elliot Waves and Chart Pattern recognition to best call the most probable scenario.
Here is a Bitcoin daily chart displaying the EW labels for what could be one more thrust up to complete wave (v) of 5 of III. I have subdivided this wave as you can see. Subdividing provides confirmation of count as all waves must add up. It also allows to view the form/fit criteria. To me, the waves add up and the form/fit are good. So, perhaps now, Bitcoin will soon finish churning and complete its complex correction and rise to $5,100 or near there? Let's see what happens.
Will I place buy ladders into this next rise coming? No. I still have my second 1/3 tranche of sell rungs in place and the highest rung is at about $5,175. I will be taking profits.
I wish you all MASSIVE profits!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
This post received a 4.3% upvote from @randowhale thanks to @lichtblick! For more information, click here!
Hi @haejin, I am new to your posts and are taking a liking..I wonder what is your thoughts on PAYBTC and NEOUSDT? .. have you yours still or have you sold your PAY / NEO.. thanks for answer
Here is the analysis for PAY/BTC. Please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/tenx-btc-analysis-loooong-churning-correction
TENX/USD if you're interested: https://steemit.com/bitcoin/@haejin/tenx-pay-it-s-paying-dividends-in-waves-going-up
NEO: https://steemit.com/bitcoin/@haejin/neo-update-is-the-abc-correction-done-find-out-here
I did not take entry into PAY or NEO.
Upvoted and resteemed :-)
so are you now saying after these minor corrections it is now going to rise to $5100 and then the huge correction you first predicted ?
I'm new to steem so not really sure the best way to support you (you are doing a great job by the way). I have just retweeted your BTC posts which I found helpful - hopefully that helps ?
In effect, yes. But please, make my analysis only an augment of your due diligence. Thanks!
thanks @haejin I appreciate your posts !
Looks we had a crash to $3650 but back up again ! Interesting to see where it goes from here
I believe BTC has one more new al time highs push left in it. Let's see what happens.
One more ATH