SUMMARY
Bitcoin (BTC) has been consolidating for most of the day. The below chart posted in the mid-day update shows the prior labeling of blue wave 4 and 5. Time has elapsed since then and I blieve a pattern is being printed.
While there are multiple ways of labeling the waves; the conslidation seems to best fit the abcde triangle pattern. This is often what wave 4 usually shows prior to placing the very last wave 5. In Cryptos, almost always, a triangle pattern is either a wave 4 or 2.
Once the five waves are complete, Elliott Waves states that there is a requisite retracement. In this chart, the red abc show where the retracement could go....towards the prior wave 4. Let's see how the overnight price action plays out.
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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Looks like we broke through the trend line! Hip Hip HOoooooorraaaaaay!!!
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Hey @haejin , great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! :)
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Hey guys, did you see the comical set of articles that have graced our inner consciousness today???? Goldman-Backed Circle Agrees to Buy Crypto Exchange Poloniex-then next article...."Most cryptocurrencies are likely to fail with their value falling to zero, Goldman Sachs said in a note"....if you don't know what market manipulation is, there you have it...they are ruthless and calculated..don't listen to this horseshit...we already know many will fail and that proper risk management is recommended, but this is so obvious that it's discussing...welcome to the big boys and girls show everyone...liquor in the front, poker in the rear
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Well spotted Shawn ! Surely more evidence for people to love to DEX such as Bitshares ! Once quint is up and running they can do whatever they want to price of BTC, because on Bitshares all coins could be pegged against Quints which would be very stable !
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yeah brother...Quint is going to be interesting for sure!
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I missed my entry by 5520 entry last drop. I still have a pending there.
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This is a very nice post. Thanks for sharing
Follow me @thunderland if you like my posts
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@haejin seems a promising progress... Hope to see more and better soon...keep posting such info sir
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Thanks for ur information @haejin
We have learn more about BITCOIN from ur post
:)
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Hello @haejin, very good karua! I enjoy k
Your posts Keep working well! I always read your nice content in Steemit! :)
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bitcoin going 12.000$ and down
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Why is this last fractal not considered 5 as a abc flat?
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Thank you for informations and tip,
I'm enjoyed your post and konten. I'm undestending
Good working.
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Coins mentioned in post:
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It is always intriguing, your analyses, but I am curious as to how to learn more about the what, and how, you are doing it.
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Right when bitcoin private snapshot is taken and people move back to other coins afterward. Beautiful.
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I'm keeping track of this movement. Thanks for the updates. Critical moments here.
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Creo más bien en un HCH formado.
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good post brother, I invite you to know my blog
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I think you are a genius because coins are difficult to me.
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Thank you,for the tip,and information,I’ll try learn something from your blog
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Thanks for you effort and putting all this together.
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Is the inverted head and shoulders still in play?
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Congratulations @haejin, this post is the sixth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 40 and the total pending payments to posts in these categories was $2917.15. To see the full list of highest paid posts across all accounts categories, click here.
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Bitfinex shows its a expanded flat.
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Thanks
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Well done, Haejin. I do believe you are spot on.
For those interested in an in-depth analysis of Bitcoin's current (and past) price action, I have made a blog per request of commenters on this blog.
https://steemit.com/bitcoin/@puppycoins/28-02-extremely-in-depth-view-of-current-bitcoin-price-action-as-well-as-bigger-time-frame-look
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Thank so much...I had the same! A step in the right direction of understanding 😄
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good post buddy. Love you
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✌🏻
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