SUMMARY
Bitcoin (BTC) price action was a near precision hit to the red A wave and has bounced up to likely put in the B wave of the retracement. Price might once again poke above the upper white trend line and this would provide another weakness generating event to the resistance line. Recall that each time the resistance is hit, it weakens. Therefore, if B wave also pierces the upper line before declining into the C wave, it would be ideal.
The below chart shows the Inverted Head & Shoulders pattern. I've redrawn the blue line to show how better symmetry might be in order. Symmetry is key in any pattern and in this case, the lower low of the RS fits well into the potential abc corrective wave but also provides better symmetry to the Left Shoulder which also began with a lower low v-neck and thus it would be fitting for the RS to end in a similar price action. This could potentially show that the C wave of the abc correction could be a temporary sub $9k 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.
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i am always liking the way you guide others we understand much more from this posts thank you friend
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But are his reviews always right?
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Will be interesting to see what it closes on today, looking back at previous charts it looks like the next 4/6 weeks will be pretty slow moving before we see any real movement again. (In my opinion)
Just hope it doesnt drop below the $10k mark!!
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He is an adventurous world that can win and lose
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Great analysis, this is helpful, thank you for the post.
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thanks
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Thanks. Good work. Question -- looks like you are calling for a potentially deeper C retrace. What are the odds that you see we get down to ~10.1 vs ~9K? For education only of course :-) Thanks!
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Thank you,Haejin, I have same question as wgkmd.. - when there's conflict btw FIB and HS pattern, which one should come first ( in terms of probability). I was about to ladder to enter the trade but I may have to change my plan after reading your post. I will do my due diligence to check but it will be great if you can explain here. THX! ^^
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niiiiiiiiceeeeee
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Wow! I've always wished for the stability of the coin and my hopes are never dead. @haejin, I so much love and commend you for this post and most especially; the disclaiming part that "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 kinnd". God bless you.
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Ok, nice analysis though!
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Hello friend.
I have been following you since last summer, first on Youtube now here.
Based on your analysis, I must admit that sometimes your predictions are 100% accurate sometimes not. I guess that is the way it goes, but your teachings and the way you convey them are priceless.
There is a question that I was wondering for a long time:
As far as I watched your analysis, you are 100% TA person, meaning that the prices will be shaped purely by the technical factors. OK, got it.
At the same time, you present different alternatives for the possible pathways, and state that we will wait in order to see which path the price will follow. Now, the question is, when in junction meaning when different possibilities exist, aren't the Fundamentals (ban of crypto, FUD, new regulations...etc) main factors that determine which way the price will follow?
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Patterns have boundaries at their extremes. Price action can be influenced within those extremes and in the short term by fundamental events. The patterns can be stretched and even distorted by such events but in the medium and long term the sentiments will remain the same, and price action will play out accordingly, regardless of individual events.
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Good question. I believe price moves the news and events and never the reverse. The alternates are only for awareness perspective. I still trade to the primary.
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Hi Haegin, could you update Ven please
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I do not really understand about bitcoin, when I see your post every day, I will gradually understand. Thanks @haejin
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thanks haejin . i am follow
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any updates on Ethereum? Thanks!
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Ok, can we moon already please? Thank you.
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Hello Dear Friend @haejin Do you have any recent analysis about steem or SBD please i need the link if you did it thanks
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Yes, two days ago posts.
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I think you are right. We will see a new low but under $8000,00 before the take off.
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Regards and thak you Haejin! I like that you started to be a little pessimistic in analysis and it is a good thing, it will keep the noobs from hating.
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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 206.62 SBD, based on the pending payout at the time the data was extracted.
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Congratulations @haejin, this post is the ninth 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 43 and the total pending payments to posts in these categories was $5889.59. To see the full list of highest paid posts across all accounts categories, click here.
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Very Thxxx!!! Resteeem. =)
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