Bitcoin (BTC) - Analysis UPDATE - Correction Target Hit With Precision!

in bitcoin •  7 years ago  (edited)

Correction Target Hit With Precision!


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Very eventful past 7 days with Bitcoin and I've been trying to capitalize on the swings. Took some profits at $9,400 and we managed to hit my correction target at the $9,000 area with precision. Please check out the previous analysis here:

https://steemit.com/bitcoin/@benkalashnikov/bitcoin-btc-analysis-update-new-price-targets

Now bear in mind that the correction might not be over. I can see a small ABC pattern but the C wave is very short. That means we could go a little lower. However, the RSI looks to find some support so we'll have to watch how this evolves.

Benkalashnikov Fund


Here are the current stats for the fund:

Initial investment: $995
Balance: $1128
Profit: +13.14%

Correction over?


Screen Shot 2018-03-13 at 00.08.31.png

RSI


Screen Shot 2018-03-13 at 00.21.55.png

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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.

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Good post , Thanks

Thank you. Been busy with Altcoins and have decided to concentrate more on Bitcoin in the future as I am missing out on the rises and dips. If one had $10K to invest to ride the waves you could make a decent income without too much risk. Thanks again.

Yes it's very volatile now and you can take advantage of the swings if you do it correctly

Hola, buena publicacion y si nos seguimos?

Voy a hacer una actualización a medida que avanzamos

I am doing the same thing trading between Bitcoin and Thether on Binance

Good luck!

Not bad prediction at all. I just about managed to nail the correction to within about $50.

I have around 11.7 to 11.8 as my next target, so a little higher than yours.

Good luck with the fund!

Great to hear that, let's hope we can hit our targets soon :)

Your analysis is good but I still think it can still go below 8400

I see you are correct. Currently at $8241.00

Yeah I take that into consideration, but not my primary count right now.

It could go down to the cost price which is entirely possible. Mind you. I thought it was overpriced at $2,800?

True, but not very probable at this moment.

Where do you see longterm wave 2 bottom @benkalashnikov ? Do you think we have hit it on 5-6 feb? Or you see us in the beginning of C wave of 2?

Just as a matter of interest how many rises does Bitcoin do a year like this. I know it retracts as it can't rise all the time. Just roughly as I am new to this. For instance last year how many opportunities for decent rises were there?