Bitcoin (BTC) Morning Update: Five Waves UP & Three Waves Down
SUMMARY
The below Bitcoin (BTC) charts show how multiple scenarios and pathways all jive well within a larger picture of price movement. First, the first of the two wedge fractals can be used as a guide for the future price pathway of the smaller one. The blue and white arrows indicate this application.
The IHS and wedge pattern jive well into the overall price movement as well. The RS can be formed in either the blue or the white pathways.
The five waves up indicate the threee wave correction which is currently in the process of finishing the C wave with its five subwaves of which red 1,2,3,4 are likely complete and 5 is in progress.
All of the above scenarios also jive and fit well within the larger picture of price moving in an ABCDE symmetrical triangle pattern. The circle highlights the current blue D wave and its three subwaves in action, red ABC.
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.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Thanks for sticking with your blog despite the cancerous actions of Berniesanders, his bot army and the troll meme brigade.
I'm looking forward to seeing how EOS upps the social media game. Bad actors have ruined this platform.
It's proven many times by your own actions that you are a beady eyed, two bit good for nothing sociopath!
Happy Thursday and let's get it!!!
RIP Bitcoin, the Goose has been spotted!!
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Price reacted to the sellers at $9200. Price is sitting between sellers at $9200 and buyers at $8400. If the buyers at $8400 can hold off the sellers, I think the $9200 level will be breached.
This cryptocurrency thing is so unsecure
it could collapse any minute
people please be careful
bitcoin's actually pretty reliable within its volatility, and its influence is large. ok, so it's subject to regulation news, but anything 'can' collapse.
Hopefully we will see over 9k this weekend.
@haejin We're in a downtrend since December yet every day you post a bullish count...I get it that you're bullish long term but I don't believe you post an objective picture of the current situation in your TA. Also, if your 20 years of experience is true and you such an expert at forward projection, you probably had a very good idea from the beginning about the size and length of this correction...yet every day you post a bullish count. People could have sold and protect some of their profits at 17k, 15k even at 12k...yet haejin is forever bullish...you're doing more harm than service with your perma-bull projections.
@evdoggformayor
good post
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