SUMMARY
Bitcoin (BTC) is still within the symmetrical trianlge and given the recent three points of higher lows, the breakout is likely be to the upside rather than a crash decline.
On a wider scoped perspective, the correction could be entering the sideways stage or the basin phase. The blue arrow is contouring a rounded price formation that would rally into July after a period of lateral price movement.
The long term support line (blue) needs to hold. Given how much the seller strength has been sapped, a sizable rally is more likely than a crash scenario. Keep an eye on the MACD because once it breaks upward; price won't be putting in lower lows anymore.
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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thanks for sharing Haejin! I agree with you and will try to buy some...
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Speaking of sharing, I thought Haejin a few weeks ago said he had a big surprise to share with everyone - to be coming out in a few weeks. Well, it's been a few weeks...I bet he's finally going to tell us about how he's not really a human, but how he's a camel in a human costume with an asian accent. Can't wait to say I told you so.
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Positive signs
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Why everyday its different? now its july rally i do not understand your analyse, up breakout lower low what up down lower low you are on magic mushrooms i think.
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i think you need to study a little bit first...
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Thank you master!
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It‘s all positve now... and all bad news already in... If I had free money I would go long now.
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If I had free money I'd be buying food and paying my rent with no stress.
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I declare I do believe I see what you've done there, good sir.
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so it‘s no free money - that‘s mostely the problem...
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Thank you for the update. Always upvoted and resteemed. https://steemit.com/bitcoin/@charliek/experiences-of-a-noobie-crypto-trader-the-beginning
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Great analysis, very complete and informative! the world of cryptocurrencies are always changing and innovating
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This is all a major correction for all crypto coins. 2017 was a booming year..needs to find bottom in 2018... will be the year of corrections
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That would be great
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Hi @haejin
Excellent article. I subscribed to your blog.
I will be grateful if you subscribe to my blog @dreladred
Good luck to you!
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The first large 40% bounce is going to be sold. First bottom is very rarely THE BOTTOM
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So we have to wait for BTC to get an erection ? :)
Let's wait...
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yes. yes. yes. it's a basic crypto rule that every correction leads to an erection. The law of the land. Write it down and don't forget it.
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I hope the blue arrow turns into a happy face. Thanks for the charts!
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Many thanks for your update.
But isn’t a triangle mostly seen as a typical continuation pattern and therefore most probably a sign for a further correction down?
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FIGURE OUT YOUR DAMN TAXES PEOPLE AND THEN BUY MORE CRYPTO!!!! follow me to the promise land hodlrs, follow me!
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