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SUMMARY
Bitcoin (BTC) day time price action has been putting in continuous all time new highs. I think we can probably see $10,254 or at least $10,000. To that end, the below shows the probable price pathway. Then a correction to around $8300 to maybe $7,900 or so. But still, higher highs can occur before the wave iv correction, especially if wave iii wants to extend further.
Below is an alternate count showing that perhaps a correction could ensue. But again, this is an alternate.
If the wave iv occurs to around $8,300 or so levels, then it would touch the upper blue line of the trend channel as shown by the purple wave 4. Following this, price would then jump towards $13,000 or higher.
Bitcoin Cash (BCH) broke out of its downward pointing symmetrical triangle as shown. Now, price should start impulsing towards 0.3168 BTC
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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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.**
I'm really amazed by how well BCH is doing in the face of this monster bitcoin rally. I would not be surprised to see BCH stabilize above 2k by mid-December.
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I agree. BCH is looking great! 😎
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Are you still considering a longer term outlook that involves a correction down to $100-200 levels? That’s like 1% of current value. It seems impossible at this stage. I’m not sure if that has been invalidated by recent action?
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Do you have a time machine we can borrow?
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It is getting insane now. Watching BTC, an $8.5k asset, move 15% in 3 days is madness. A new fork every day creating money out of nothing. And BTC still isn't being used (substantially) for anything but speculation; there is no substance! Yet you can see the fomo and greed building.... these are worrying signs indeed.
I'm looking forward to the major correction. I will short, make money, and buy back in when the bull mania has ended.
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I couldn’t agree more, but a 98% drop isn’t a correction! It’s the end :) A 20 - 30% pullback seems more than reasonable though given the hysteria. I’d be a buyer again at those prices. Would love to pick some up at $200 too! ;)
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Exactly. A 98% drop is not a correction. I don’t see how any asset can recover from a crash such as that. 20-30% seems reasonable, even 50%. Bitcoin has had similar before.
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It's not money out of nothing. It's just like any other altcoin. It has value because people give value to it (and put money on it).
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I'm on the same wavelength as you, come on correction!
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Major cycle correction remains on the horizon. Timeframe unknown.
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Bitcoin has defied all Elliot wave theory predictions.
Correction - bitcoin has defied gravity.
I think it will go higher than any of us can imagine. Remember when we thought $1,000 was crazy?
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Your analysis' are usually interesting to read.
Any opinion on Lisk coin from your side?
It is bouncing up and down in a very small channel for the last few days
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I don't do charts, but according to their reddit, they f-ed up their november announcement by delaying EVERYTHING. That's why the price dropped.
All updates to LISK should be revealed at february 20th. -> that's when price should reach ATH.
And if the announcement is successful this time - it should continue to rise.
I could be dead wrong, but I don't lisk is worth touching until at least January (unless you're ok with LONGER TERM holding, while everything else rises.).
p.s. I hold some lisk. Should've sold, but it's still profitable for me to hold, so I hold.
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Thank you for sharing your opinion with us.
I was reading something similar to what you wrote, people saying it might be more a long term thing. Let us see if they can follow their own plans.
Maybe other coins are just crazy these days, like BTC or ADA, so I was wondering what is going on here.
Good luck for your investment, I hope it will pay back well in the future!!
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9700!!!
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좋은 정보 감사합니다.
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thanks for the update!
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Great analysis!
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upvoted-thank You for posting this!
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i am read your blog post about bitcoin updates its good post thanks @haejen we continue work in this topic
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Very cool. I'll check out your other tutorials too!
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Thanks friend....
Share this post in steemit.
I'm always follow of your post
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Thank you as always.
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Hi @haejin, can you please do a chart analysis on Lunyr (LUN)? Cheers!
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Thank you!
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For anyone thinking BCH is not looking good right now: Wrong! Here is what I think is happening:
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Do you still think that?
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Good post! Visit our blog and see the latest news :D Greetings
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