SUMMARY
Bitcoin (BTC) has put in microwave five motive upwards which has allowed the price to remain above the long term trend line. Elliott Waves states that after five waves, there is a requisite correction. One commenter also mentioned the possibility of a 5th fractal wedge...that would be unsurprising!
There is a potential for the correction to be an abcde triangle wave set as shown in the below chart. IF this is correct, then price is likely to reach the upper blue resistance line before being repelled. It could get repelled but the seller power has been thus far so sapped....they may not be able to beat on Bitcoin for too much longer!
The blue circle depicts the rise to the resistance line and the tiny repell and....ideally, a monstrous breakout! This whole process could still take until the 17th to the 23rd of April or so.
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
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thanks for sharing! yeah totally agree! I hope we will see btc above 7.5k next week.
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Check out @TruthTrader. It tracks Haejin's performance. I give #Hgin a BIG FUCKING F For FUCKING FAILURE!!!!
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Thanx for this infomation :-)
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thank you for your hard work and put all this together for us i appriciate your hard work and all this info even tho its alot but reading this helps crypto followers so thank you again .
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Some say it will still correct probably slightly below 6k before the Bullish run expected from the 17th of April and beyond. Looking at your analysis it would be interesting if this correction does in fact come about or whether it breakout, as in your third chart.
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Yeah!
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the green upper resistance to the larger wedge formation is currently being tested. this needs to be broken before an upwards trend to the blue resistance line where one more bounce to the downside is likely. Note also the two fractals in the gray box's and the similar position shown by the green circles.
macro perspective
the green upper barrier has been rejected a few times already on the hourly chart and price is testing the 200 EMA. it is clear there will be a break to the upside or downside in the next 24 hours as the volume is reducing to a crawl.
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time of breakout above wedge support line negating E.
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nice prediction :)
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Check out @TruthTrader. It tracks Haejin's performance. I give #Hgin a BIG FUCKING F For FUCKING FAILURE!!!!
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Thanksyou for amazing analysis👍
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BTC struggling to break $7,000. Down we go?
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Hello! I followed you, let's increase the power of Steemit together! I hope you follow me. I'm always glad to have a new acquaintance with good people! ;)
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Is it OK to say that all coins are correcting since all coins and alt coins are dipping?
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Yeah I was also plotting out another fractal, this recent wave up can be labelled ABC; also as the impulse you've detailed.
Excited to see what happens in the follows weeks
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Check out @TruthTrader. It tracks Haejin's performance. I give #Hgin a BIG FUCKING F For FUCKING FAILURE!!!!
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great analysis
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N
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Why is it that when i look at your comment section I see the same reply copy and pasted multiple times, only changing the name of the person you respond too.
This behavior is seen as spam and you will be flagged.
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@AbuseReports
@Duplibot
@Spaminator
@SteemCleaners
@SteemFlagRewards
@Steemit-Abuse
Steemit Asshole
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Great Bitcoin Strategy. Thank you.
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I agree. Buyers are stronger. A lot of fake sell walls. Here is my latest update @haejin
https://steemit.com/cryptocurrency/@examachine/btc-and-eth-uptrend-may-have-been-confirmed
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