Bitcoin (BTC) Mid-Day Update: The Upper White Trend Line Needs to Hold as Support

in bitcoin •  7 years ago 

SUMMARY

Bitcoin (BTC) price action today has been declining after breaking down from the upward pointing wedge pattern. Thus far, it is and will likely remain a minor correction that coudl follow either the blue or white arrow pathway as shown in below chart:

I've updated the Elliott subwaves to count a full impulse with the new price data. I believe blue corrective wave (a) will probably reach the 0.5 Fib zone while and following the (b) wave bounce; the blue (c) could decline towards the 0.618 Fib zone. This correction still has the indicators for a ZigZag (5,3,5) correction. Let's see when the blue (a) completes and the onset of (b) takes place during ovenight price moves.

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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We're still stuck in this range. So much for the Network Effect.

Thanks

Thank you ^^ as always

  ·  7 years ago Reveal Comment

Waiting for it to reach 10.000$ dollar to invest some ;)

I share graph and analysis

Taking the height of the triangle as a wavelength parameter that we already see that it was exactly fulfilled in the first cycle of correction waves

A correction of 5,3,5,3,5 could take us to 9,200 dollars again.

Captura de pantalla 2018-03-06 a las 10.06.50 p.m..png

What you think?

Your graph shows a 3 3 5, it's a flat correction in EW theory. It's a really probable option, time will tell.

  ·  7 years ago Reveal Comment
  ·  7 years ago Reveal Comment

Much appreciated Haejin!

  ·  7 years ago Reveal Comment

Thanks again for all your posts. I will be watching the 50 DMA closely. Below that and Look Out Below!

Really informative update. Thanks

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin9450.980$-4.05%-13.34%
EOSEOS6.227$-3.03%-26.82%
QAUQuantum0.178$-0.32%-23.26%
WAVESWaves6.123$1.57%-8.02%

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Thank you

You have saved my life @haejin
Many big thanks !

Thanks for update!

Thx. Resteem. :)

Guys I am new to steemit and was wondering if someone can give me feedback on my crypto blog posts.

1- Sell Walls - What are they and how to take advantage of it

2-Crypto Pump and Dump Groups - What are they, How do they work and Why you should Stay Away!

Feedback would be really appreciated! :)

Dude! Are you posting duplicated content on Steemit? The article you posted today on Steemit appeared months ago on another website. STOP!

  ·  7 years ago Reveal Comment

По мере того как Биткойн вырос, он был вынужден бороться с потоком трафика в сети. Разработчики разделены о том, что делать.???

ok:-)

I love this! I am new to Cryptos so all the help is greatly appreciated!

  ·  7 years ago Reveal Comment

Excelente contenido, realmente me sera de mucha ayuda!!

Good one

Nice update. Quite informative. Thanks for sharing @haejin

thanks a lot

Hello, thanks for the updates

Buen post!