Bitcoin (BTC) Evening Update: New Target $9,827 Using H&S + EW...Check out this Analysis!

haejin (88) in bitcoin • 7 years ago (edited)

SUMMARY

Note: I'm stuck in Dulles so no video update for Bitcoin (BTC) Evening

Bitcoin has been hitting higher highs and I believe we can now officially say that the expanded flat a,b,c correction is complete and a trend reversal has occurred. Technical Analysis guides you through these types of corrections and often it comes down to a confluence of chart pattern and Elliott Waves.

Below is the chart posted from this morning's update. The Head & Shoulders bottom pattern seems to be playing an important role repeatedly.

The below chart shows the progress of Bitcoin price per my Elliott Wave price pathway...not too shabby!

Below is a MUCH LARGER degree head & shoulders pattern that can be discerned. Once the circled green waves 3 and 4 are complete, the Right Shoulder of this very large H&S pattern could be complete.

Here is the minimum price travel for the Large H&S pattern. The target is now $9,827 or higher as the minimums are often exceeded. These H&S patterns are often overachievers.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
Follow me on Twitter for Real Time Alerts!!
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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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.**

bitcoin cryptocurrency blockchain altcoin

7 years ago by haejin (88)

$19.62

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ryan313 (57) · 7 years ago

Moon time

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1 vote

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grizgal (55) · 7 years ago (edited)

so it looks like we could see prices up around 10k before the end of the month! Good to see. I wonder how high we can go by the new year? Or whether another correction will dampen things down a bit!

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1 vote

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solisrex (67) · 7 years ago

This coming ATH will be wave five top of major cycle, and a major correction is probable. Stay tuned to updates

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1 vote

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pkalmik (49) · 7 years ago

nice post.hellow I'm new in Steemit. i m going to follow you

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1 vote

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scarlet7 (59) · 7 years ago

Welcome to Steemit! Haejin is VERY good at this, and an excellent and encouraging teacher. I would urge you to watch the tutorials at the bottom of his posts, and look back on the videos to get up to speed with the techniques presented here. Glad you're here!

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1 vote

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attila73 (4) · 7 years ago

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Reveal Comment

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d-pend (73) · 7 years ago

obvious troll is obvious.

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1 vote

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joebobby187 (31) · 7 years ago

Not sure how you are counting. But I've made money on quite a few of his picks. If I hadn't had such a small stash to start with I would have a helluva stash already. let see I've made money on BCash. Today I hit on zcash. Monero a couple of days ago. I also sold small amounts of bitcoin lattering my sellpoints. Then lattering back in on the expected dip. My xvg is doing well. I'm looking to buy some bitshares but I'm spread a little to thin as I just got back into vertcoin today. When it dipped. I bought back into monero and just now zcash. For the rest of the ride.

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3 votes

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kean-1 (22) · 7 years ago (edited)

Haha yeah right!! Haejin has in fact helped me recover losses by how high his success rate is!

We can only assume that you are a troll and if you had even just half the success rate Haejin has, you'd be a happier person.

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1 vote

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cryptosuf (51) · 7 years ago

It feels like yesterday we where searching for ATH of 5k+... this is when I first met @haejin and his blogs... a week before the dip to 3k.... its crazy to see how fast cryptos move... and how accurate haejin has been.
Time Flies!
Thanks for everything @Haejin

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4 votes

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scarlet7 (59) · 7 years ago

As I filter through the archives, it kind of takes me back in time.....it feels so long ago....but it was only a month or two.

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2 votes

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cryptosuf (51) · 7 years ago

yeah lol its pretty cool

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steemitboard (66) · 7 years ago

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1 vote

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hippo (52) · 7 years ago

thanks for the update. Is new target $9827 top of wave V?

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1 vote

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solisrex (67) · 7 years ago

Yes, and should be followed by cycle level correction.

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hippo (52) · 7 years ago

Is cycle level correction like 20%-30%?

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solisrex (67) · 7 years ago

No, cycle level corrections are generally much deeper. Keep in mind that this will be BTCs first cycle level correction. Three steps forward, two steps back.

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1 vote

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jovial-grace (49) · 7 years ago

Does history show/reveal the imminence of the upcoming major wave correction? Isn't then time to begin to plan for some laddering out of btc for profit? Probably the dumbest question.. is it a good idea to stay in btc at all through the correction?

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cryptosuf (51) · 7 years ago

hey @haejin, does this ETH head and shoulders patter on a 13 minute chart seem legit?

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1 vote

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solisrex (67) · 7 years ago (edited)

Volume should match head and shoulders, with most volume at head.

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1 vote

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scarlet7 (59) · 7 years ago

Correct, and also that chart is showing the verrrrry reaching buys and sells as solid candles, when in fact they are more like spikes breaching the neck line.....try looking at it on a larger time scale, try it on a day and see what you think.

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1 vote

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cryptosuf (51) · 7 years ago

oh wow, thanks!

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g-dubs (71) · 7 years ago

10k for christmas ;-)

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linniek (44) · 7 years ago

10K by EOY, 14K by Feb, and beyond.

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minnowpond (62) · 7 years ago

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rjh (35) · 7 years ago

❤️🐈🐾What is happening with EOS....correcting?

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solisrex (67) · 7 years ago

Yes, but larger correction is complete. Probable dip to $1.39. Target remains $3.22.
https://steemit.com/bitcoin/@haejin/eos-target-usd3-22-analysis-update-live-real-time-laddering-example-you-don-t-want-to-miss-this

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bitcointv (40) · 7 years ago

Thank you!

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bitcointv (40) · 7 years ago

What do you think about Coinvest? "The world’s first decentralized stock market for cryptocurrencies". https://coinve.st/

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blackforcewitch (33) · 7 years ago (edited)

Please have a look at mer-btc in bittrex... it should jump up I think

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steemitmarkus (25) · 7 years ago

Hi @haejin!
Appreciate very much your educated analysis; I've been following them on youtube and now joined steemit for a closer prespective.
Would you be so kind as to perform the tech analysis on Monero-Euro (XMREUR) and Ethereum-Euro (ETHEUR) based on performance at KRAKEN euro market, please?
ThkU in advance! Best!

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tokyoin (49) · 7 years ago

10k Here we come! Can you update LTC please? Thanks Haejin!

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