Bitcoin (BTC) Evening Update: A Potential Continuation Pathway & an Alternate Pattern

in bitcoin •  7 years ago 

SUMMARY

Bitcoin (BTC) has thus far bounced quite well and has retaken the upper white trend line; though temporary vascillations will not be surprising. At the very least, it is encouraging to see. The optimal count is shown below where an impulse would continue upwards with the minor ABC correction likely complete.

The blue waves further subdivide white wave 3 and shows how the current bounce can fit into the overall count. IF this is correct, blue wave 2 would be next and yes, an abc correction of a micro degree is likely. This could what the overnight price activit could consist of.

From a pattern perspective at a higher degree of trend, the below depicts a potential ascending right triangle. The $11,800 seemed to be persistent zone of resistance and the blue horizontal line reflects this. The white arrow provides how price usually moves within an ascending right triangle to achieve a breakout.

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 sharing! Will look at $11,800 zone.

  ·  7 years ago Reveal Comment

Thanks, very good post !!!!

Awesome Work!

Keep it up!!!

@cryptoinvestinfo

What is your favorite Hardware Wallet folks?

Ledger Wallet protects your bitcoins

  ·  7 years ago Reveal Comment
  ·  7 years ago Reveal Comment

Could you do an analysis on the son of Tron: OCN? It looks like it's about to explode from a TA and the fact that it will be integrated as a payment method to the world's largest bike sharing company this month. It's an all time low as well. Perfect time to buy if you'd ask me.

I wouldnt bother with that shitcoin

Shitcoin? Are you being serious? It's being used for oBike and Grab payments. There's no other coin being used for real world application and purchases.

Litecoin?

FLAG #HAEJIN & earn more money on STEEMIT!!!! #FlagAWhale #FlagADonkey

  ·  7 years ago Reveal Comment

Bitcoin rate is playing jigjag between 8k to 12k. Is there any possiblity to grow more in march? and really bitcoin rocket will reach the moon? 😊

  ·  7 years ago Reveal Comment

Thanks @Haejin for your nice analysis.

Haejin.png

Thank you for the update, always enjoy seeing your work.

  ·  7 years ago Reveal Comment

Yeah idk anymore. I put a stop buy order in if and only if BTC market can move up. I am seeing way too much manipulation in the market. Maybe BTC is dead, idk. Im not risking any more money on this poop show till the market proves it.

  ·  7 years ago (edited)

Good

Nice logical advice. I like the disclaimer too. Hopefully bitcoin exceeds 12k mark at the end of the year.

please XRP, ETC, and ADA

Thank you for update

  ·  7 years ago Reveal Comment
  ·  7 years ago Reveal Comment

If you are an airdrop hunter this channel is for you https://t.me/gtga_channel new airdrops every day

does this mean the reverse h&s is invalid ?

haejin's primary count could still be invert head&(double)shoulder, depends on breach of neckline..

글좀 적당히 남겼음 합니다.. 당신글뿐이 안보이네요..징함

Thanks for the Update. I am keeping a close eye on the 15 min time frame and the potential bull flag that is forming.

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thank you for information. can you do actualization wibe please.

Would you please do XRP, and ADA?

  ·  7 years ago Reveal Comment
  ·  7 years ago Reveal Comment