)
SUMMARY
Daytime price action has been forming a wedge pattern for white wave 4. Look at all the triangle patterns....most usually, a triangle is a wave 4 or a wave 2. The same for flag patterns, they are often wave 2 or wave 4. The MACD below is reaching oversold zone and the leading indicator (white) should curl up and cross above the red lagging indicator (green circle).
I do spot a small Head & Shoulders as shown below. However, the minimum price travel equates to the apex of the blue wedge formation. Price could meander laterally a bit as well...but I believe the $23k target is being very patient.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: 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.**
XVG 15 min
I think C is a bit too low here.(noob, please correct me if I'm wrong!) I don't think B ever got higher than 330 Sats.
Would you reset C at 276 sats? Or does it missing the 361 on B mean we have to re-evaluate?
Probably not, I'm assuming because we have more complete info now we can just adjust the C target to like 276 or would that be too aggressive? More like 280?
Seem reasonable to you?
Thanks from your daily newbie!
Love your work Sol.
ps Once we get to C, how do we chart D of the triangle accurately? Thanks Sol.
Thanks Haejin! Your analysis on crypto paid for my college tuition this semester and i love you for that! (nohomo) Any chance of doing a TA on $NXT/usdt pair on poloniex? I've been charting it for weeks now and it's kicking my ass.
wow! congrats
Coinbase 15 min
ADX
That's my baby about to pup..well this and ARK
Thanks Haejin!
BCH
When you least expect it.
Hello Haejin. Can you do a chart on kin token? Thanks.
I am learning so much from you haejin thanks so much. I think I found a bullish ascending triangle wedge.https://www.tradingview.com/chart/XBTUSD/NVquo3UJ-BTC-consolidating-then-going-UP/ https://www.tradingview.com/x/SRpInN2d/
Keep being patient bitcoin. Give the alts a chance to dance!
Thanks, Haejin! You're an inspiration.
Thanks again Haejin, massive profits to you. Please review Cardano (ADA) when you get a chance.
ADA
Thanks again Haejin!
Thank you.
This update was a bit later in the evening than usual. Glad to see it. Was curious how far you think BTC might dip so now I know. Thanks so much.
When everyone using Head & Shoulders buys Bitcoin... :-)
LMAOOOOO I JUST GOT THIS!!! good one man!
I was lost at first
BTG
Merry Christmas
Bithumb
look for completion of inverse head and shoulders
or cup and handle
Any chance you could look at BTS?
thank you for your hard work ,,, upvoted
Thanks bro - I was about to sell my holding... thanks
Hi Haejin, thanks for the post. Could you please do a review on ETN? Thank you!
Thanks Master Lee.
We appreciate it so much.
Hi Haejin, just wondering, you mentioned the white subwave 4 could potentially go lower. If it crosses white subwave 1 then that would invalidate the count wouldn't it? Thanks.
I had the same observation. My count has the white 5 being at the location of the white 3 in the video, then the following correction is an A, B, C and the C ends below the white 1. I guess it doesn't matter much since the overall trajectory is bullish.
Same here. I am going to take a shot at this.
https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-video-2-zig-zag-and-flat-corrections-how-to-recognize-and-label-corrective-waves https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections
Welp. That MACD is already turning up.
Thanks Haejin! Took a few days for my Steemit account to be approved, but finally here! Just threw a bunch of upvotes your way :)
Hi Haejin! Just watched this video, fantastic and yes because of this blog I AM MAKING PROFITS- so thank you so much!!!!!!!!!! :)
Thank you for your hard work!
Thank you for your analysis. I am Korean subscriber.
Thank you!
Hi Haejin
Wave 4 just overlaps the high of wave 1, so does this not break the 1 of the 3 main elliot wave rules ? Or a slight cross does not matter ?
Apprecaite if you can clarify ... please.
Regards, Tahir