Bitcoin (BTC) Morning Update: A Proposed Pathway of the Minor Correction
SUMMARY
Bitcoin (BTC) overnight price action is showing that the correction is now well underway. The chart below shows that price will likely take the blue arrow path where it could touch and sit on the upper white trend line before resuming the uptrend. The alternate is the white arrow where price can temporarily pierce the trend line as a way of getting rid of weak hands and as result pop right back up like a buoy underwater.
The closeup view shows that five wave down is in progress and nearly complete. This would signal the next step where the blue (b) wave would provide a bounce towards the region of $11,300 or so. The final blue (c) leg of the correction will also consist of five subwaves; thus completing the ZigZag (5,3,5) correction.
The Fibonacci chart shows that the correction will likely reach the 0.5 (white waves) or the 0.618 zones (red waves).
The larger picture shows that the uptrend is still intact and likely follow along the blue arrow line. The Inverted H&S has NOT been invalidated.
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What do you think about that we're in an ABC within a bigger ABC?
Don't know about the bigger ABC. It is a possibility but what gives?
But I also think the minor abc fits better into the overall picture.
Posted my chart as a reply to Haejin's post.
Thanks Haejin you said there would be a minor dip and it happened. You've helped so many people in this community and have a lot of friends and followers. May the multiverse of abundant realities converge on your wallet.
Long live capitalism and your rightful Lion's Share on Steemit for your hard work of technical analysis. Let the punkass haters sit and marinate in their underwear in their government provided homes, talking on their obamaphones, and bitching on their keyboards about not being able to buy liquor with their foodstamps
Haejin is not showing anything extradionary.
In the 4H graph you could ride a train from 10560$ to whatever price (because that is when a kumo twist happened) and have the close orders ready on the kijun sen.
Your orders are closed now and you made a nice profit. There is no need to use Elliott Waves or make 2-3 updates daily about a single cryptocurrency.
In the daily graph it has no bullish signals ready yet.
You are entitled to your opinion but there are many of us who appreciate the updates throughout the day. Many of us are still learning and don[t yet have your wisdom.
I understand you jghowe.
If you would like to learn TA analysis there are much better teachers on youtube though.
Maybe can go down a lil more and touch the cloud on a tf of 1h is abearsish trend, probably there will be a pullback soon
You are right - for people with own TA experiences.
But thats not the audience of haejin.
@eirik. Blah, blah, blah. Sick and tired of people who does not use their brain, no critical thinking skill and spread stupidity!!!
Haejin's predictions WILL lose you money
My IMX TA, Give me $300 upvote!
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Haejin's rewards come almost completely from a single user... Haejin doesn't care about you or the money you make, he just wants to earn as much money as he can and in the process he will ruin and kill the profits of others. So lets spread out these profits, #flaghaejin
Grow up and quit whining......instead why don't you do something to contribute to the community!
Thank you Haejin
lol - funny @diverse. Idk whats goin on but I learnt a lot from Mr. Lee and it has helped me for-seeing the future trend not to be panic and be patient. I hope it will pay off big soon.
Bitcoin (BTC) Morning Update: Proposed Path of Minor Correction ..
This is the end of the benchmark (BTC) and we expect the price to increase and we beginners will never know about Bitcoin (BTC), because we know here how we can make $ 8 dollars or 8 sbd in a week and be able to we use well, thanks information
@haejin Thank you for everything you put into this community. I firmly believe you are true to your statement of doing no harm and it's very sad to see some of the hate your work inspires. I joined Steemit last year because of you and I'm sure many others who are now discovering Steemit have come because of you. I hope you continue to push back on the haters and that all your followers stand up and be counted so the accusations that you have so many bots and fake accounts can be disproved once and for all. Keep up the good work - thanks.
Interesting
Thanks for your great work, @Haejin!
Lol
I like Bitcoin. Good update news about Bitcoin. Thanks @haejin
@haejin ...thanks for helping us with such BTC regular updates...haha..the only thing is that your morning BTC update is a night time update for me...as itz 8 p.m here right now..:D
I wasn't sure about this account at first because I heard so much negativity about it when signing up for steem.
In fact so much so that I would feel afraid to even comment. In regards to steem rewards I think you are taking the optimal strategy, which is what one would expect a technical analyst should do.
If there is a problem with how it pans out in the end it is simply a sign that the system encourages said behavior. This in turn exposes possible weaknesses in the Steem blockchain.
Anyways overall I find your analysis interesting, all the best.
bitcoin is really trying to test my patience.. but otherways it would be just a bit to easy I guess :-)
bitcoin doesn't even know you exit, so don't take it personally.
well...yea, I guess I'm supposed to feel better now..? :-P
The analysis is superb.
Thank you.