SUMMARY
Bitcoin (BTC) was shown as potentially putting in an impulse as shown in below chart. It would allow price to breach the upper blue line and initiate a trend reversal. However, if you've been following my posts, this had not been my primary count because a trend reversal so far from the Apex of the blue triangle wasn't ideal.
Besides, the current price formation itself looks like an upward pointing wedge which bodes lower low probabilities. The red abcde waves are all complete except the e. This could lead to a temporary breach of the upper blue line but not a decisive.
From a larger picture perspective, the Waves and Pattern is tending towards the blue e wave being a lower low in the range of $7,600 to $7,250 or so.
The logarithmic chart is little changed. It holds the $7,622 or so as the point where the first longer term trend support line resides. The downward wedge's apex also resides at the support line. It'll be interesting to see how price action plays out overnight, should this longer term support line be touched.
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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Buy the dip, always the best strategy.
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only if you still have cash...
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This time, it will go below 6k within a month.
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Great post, our charts are identical.
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Congratulations @haejin, this post is the third 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 36 and the total pending payments to posts in these categories was $2139.12. To see the full list of highest paid posts across all accounts categories, click here.
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No matter what, this correction is temporary and we will go up, maybe even 90k by 2020? Can you say Fractal?:
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Yes @tokyoin, bird’s eye view. Stock changes always follow certain patterns but historical data have shown that well established stocks don’t just “disappear”. And the trend is almost always increasing due to growth or inflation.
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Very nice chart.
Can you give a link to the source of it?Thanks.Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
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Where did you find this graph? Is there a larger version?
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https://bitcoinschannel.com/wall-street-fund-predicts-a-91000-bitcoin-price-in-2020/
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A value of more than 50,000 U.S. dollars is good, the value depends on the demand, the demand is resolved by the peers, and the value naturally goes up.
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Thanks Haejin! Fuck these haters! I'm muting all of them. Not interested in their perspectives which is why I'm not reading their posts...just as they should do. We are here for you, and we appreciate what you do.
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Lol, almost every prediction he has made over the last 2-3 months has failed miserably.
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very wrong, again..
https://steemit.com/bitcoin/@bryanalighieri/three-drives-reversal-bitcoin
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Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 130.52 SBD, based on the pending payout at the time the data was extracted.
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No matter
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Coins mentioned in post:
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There's been blatant manipulation lately using the Mt. Gox bitcoins. I'm guessing that TA does not work when a big actor in the market stops caring about profits, and only wants to crush prices.
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HAEJIN LOGIN: Zenj+t#x~K#?EPXp/2>?,'A!S>LaDneqQSXt?SadUQ4Xt{vRe+
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