Bitcoin (BTC) Evening Update: Overnight Could Put In the $8,200 or 0.618 Fib Level; This Level Needs to Hold

in #bitcoin6 years ago

SUMMARY

Bitcoin (BTC) is still carving the subwaves of 5 (blue) of 5 (white) of C (red) of the ABC correction. These waves compose the ending part of the ABC correction. Based on prior analysis, the $8,200 is the 0.618 Fibonacci zone and perhaps overnight this target could be hit. The blue waves have all but wave 5 complete....let's see in the morning how the 0.618 zone holds.

The overall bigger picture is holding to the blue 1 and 2 waves and that the abc red are subwaves of blue 2. We are now completing day 2 of being below the white trend line. Once teh $8,200 is hit, price needs to turn up. In the event price slices right through the 0.618 Fib zone; the Elliott Wave and patterns change to an alternate count which will be discussed in the morning.

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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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
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This is not very funny. But I do really like that movie.

Tron was here!
Leave @haejin we will win!
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Any chance of holding at this higher fib?

Any chance that @Haejin will ever fucking make a post that @RanchoRelaxo doesn't upvote?

No chance.

I see it different and now a rsi bullish divergence reinforce this wiew. But it’s a
Very uncertain situationAF0993D8-072F-4E24-81CE-0F2D839D5C4B.png88D8BA51-4C27-4A65-8582-0D1B2FDD893F.png

Bitcoin's dead. Long live Bitcoin !!!

For future viewers: price of bitcoin at the moment of posting is 8647.70USD

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