SUMMARY
Overnight Bitcoin (BTC) price action was quite active in generating higher highs. We're seeing a bit more gusto into this uptrend. I believe wave 3 is nearly done, perhaps already. Though, wave 3 should touch the upper white trend line at around $11,170 or so, as shown in below chart. Then the subsequent wave will be white wave 4 that resides at the bottom of the channel. As long as price stays in the channel, we have an impulse in the works!
It's still likely for price breach the upper white line of the channel as shown below. IF that happens we coudl have white wave 5 reach towards $14k; however, that is pending the breach. Should the breach transpire decisively, then the abc would briefly breach the upper channel line priro to onset of wave 5.
However, even the subwave count of blue wave 5 of 3 shows that five waves are nearly complete; so most likely, price stays within the channel.
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 shoud not be considered financial or investment advice of any kind. One should consult with a financil 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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
BTC/USD
BCH/BTC
BTC/USD
Possible fractal in play that matches Haejin's thoughts.
Bitcoin Breakout IMMINENT! Where will it go?! https://steemit.com/bitcoin/@investingtips/imminent-long-term-break-out-up-or-down-for-bitcoin-this-is-a-pivotal-moment
Any views on a possible lower low. I am not sure whether the latest impulse we have seen is 3 wave-ish or not...
Also is there enough impulse right now to breach the upper line of the descending wedge?
Sorry for looking at it from a bearish angle, but as you say: "awareness keeps the panic away" !!
i like this scenary
Watching and following with pleasure..
Thx & great WE to you too
or that is a truncated 5th and it's already done....
not a very good risk reward ratio....
Truncated 5ths are VERY rare in cryptos. In fact, since 2011; I haven't seen one at a daily scale. Remember cryptos are not the same as equities so the equity based EW guidelines can't be cooky cutter paid over Cryptos.
event the small one ? i m refering to the 5th of the 5th of the 3rd....
You said that you took your profits at wave 3 but towards the end of the video, you said that there will be vertical rises and also a probability of it staying above the breached line. So why would you clear out your position when this is a time to HODL the uncertainty?!
No, I said day traders might want to consider that. I haven't sold anything.
yay! it's going up!!
Thanks @haejin for the update, good post
Thanks for the update.
Thanks Haejin for the update!
Thank you for update information about bitcoin present market price. it is helpful for all crypto user.
Verge had massive burst today any thoughts about that?
Anyone likes free coins check my blog for airdrops.
Have nice weekend :)
Please only use to augment your due diligence.Just posted update: https://steemit.com/verge/@haejin/verge-xvg-initial-target-usd0-139
Thanks for the information as well as the disclaimer.
https://steemit.com/bitcoin/@maximzvonarev/bitcoin-btc-usdt-utrennie-obnovlenie-uroven-soprotivleniya-10000usd-probit-chto-dalshe
Awesome
It's an upward grind right now, but with BTC there's almost always a correction. LTC is having a small one right now, but hopefully both will continue to push ahead and not double top and then decrease.
TA and Elliot wave analysis and great complements to healthy due diligence and analysis. Looks like in times like this with TA giving probability of higher highs or lower lows it is also good to add in some fundamental value analysis as well.
For instance, this fundamental metric that I blogged about here seems to correlate a lot with BTC prices just as much as (or even more than) many TA methods:
https://steemit.com/cryptocurrencies/@kenraphael/this-single-metric-seems-to-correlate-more-with-cryptoasset-values-the-past-two-weeks-than-most-predictive-methods
Oh yes, corrections will always show in wave 2 and 4s....without it, there can be no impulse or motives.
Thanks for posting. Good to get ready for thr waves
Thank you for the update
BTC is on the march once more. The bulls have recovered and are determined to break new resistant line. They will continue to uprise within the parallels for a considerable length of time. Many thanks @haejin for sharing this.
I wish you MASSIVE profits!
Thank you for your update! Up up up!
Why the down vote? Did I post something that was offensive?@rewardpoolrape
Thanks for ur predictions.
love your clarity in both the video and summary, thank you!!
BTC/USD
Ehh, that wav 5 would be extended and there has been not enough mojo yet to cause it.
Thank you Haejin