SUMMARY
Bitcoin (BTC) has broken down from the upward pointing wedge and since price had be quite proximal to the apex, it is not surprising. I had introduced this in yesterday's updates. Microcounts thus far show the blue ABC in progress with the red waves of blue C currently finishing wave 3 with 4 and 5 remaining. A likely piercing of the long term support line is expected. There are times when multiple bull wick events are made around a support lline which are weaved around like a needle and a thread. The video has more details!
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Am I the only one who sees more quality comments in here?
Just curious - where those spammers disappeared?
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My view point remains the same...no real buyer until $6000. Also, buyers need to take out the sell orders at $8000 and $8500 before price goes higher.
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I agree this time we will go down to 6000$
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It fits well into the W bottom.
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WE are missing a very important scenario here - which is ABC correction
As shown below - B has retraced 38% exactly by book. Now Wave C will be an impulse or diagonal. if it's an impulse we are looking at now micro wave 5 of 5 of C. if this is true, a lower low (less than FEB 5 - $5900) is coming because by rule C always ends beyond A. Please share your opinion-
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I’d be surprised on a lower low as MACD would have to dip hard.
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WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX EVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW @Haejin & @StarJuno now. Do not UPVOTE or TRANSFER any FUNDS to these accounts. Any money you send to this criminal organisation can be traced back to you.
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WARNING - The message you received from @Haejin or @StarJuno is a CONFIRMED SCAM!
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In the first place, it don't matter actually , if you're a long term investor it's always a good news to you, and if you're a short term investor it's a bad news for you.
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The head and shoulders pattern was also very noticeable.
I'm surprised nobody talk about it.
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A bit too inclined.
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WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX EVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW @Haejin & @StarJuno now. Do not UPVOTE or TRANSFER any FUNDS to these accounts. Any money you send to this criminal organisation can be traced back to you.
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This is a support connecting the two 2017 later correction bottoms:
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Well refined lines.
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WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX EVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW @Haejin & @StarJuno now. Do not UPVOTE or TRANSFER any FUNDS to these accounts. Any money you send to this criminal organisation can be traced back to you.
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WARNING - The message you received from @Haejin or @StarJuno is a CONFIRMED SCAM!
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This is the BEST bitcoin analisys (check it out): http://cryptosrocket.com/btc/2018/03/29/lets-see-the-big-picture-and-whats-next
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Perfect counter indicator, once this guy turns bearish, BUY!
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Como estas amigo @haejin? Gracias por la informacion, un abrazo en la distancia
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here my vote friend. excellent post. Greetings from Venezuela. God bless you. success
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Coins mentioned in post:
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Could it be something like this?
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That would my Blue line of W bottom:
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I will buy at this level
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I love the steady progress.
Thanks for sharing @haejin
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Purchase the plunge and HODL," said Bitcoin bull Thomas Lee, head of research at Fundstrat Global Advisor, on CNBC's post-showcase demonstrate "Quick Money" on Wednesday.
"The state of mind in crypto is ghastly right now," the regarded Wall Street examiner said. "Long-lasting holders are stressed in light of the fact that they have huge picks up and they're stressed over falling costs. Yet, Bitcoin is an incredible store of significant worth. It works extremely well. It's sort of exhausting, in light of the fact that it's not the most recent and most energizing venture. Be that as it may, it additionally is a standout amongst the most fluid approaches to get introduction to crypto."
In a Wednesday note, Lee expounded on the 10 greatest days for Bitcoin every year, contrasting them with the conventional market: "Market timing is by and large demoralized in customary value contributing. In the event that a speculator passed up a major opportunity for the 10 greatest days (for S&P 500 [an American securities exchange index]) every year, the annualized return drops to 5.4% (ex-10 best), from 9.2%. As such, the case for purchase and hold in values is the open door cost of passing up a major opportunity for the 10 greatest days."
So if a financial specialist was to pass up a great opportunity for the 10 greatest days for Bitcoin, the annualized return drops 25% yearly, Lee composes. By and large, Bitcoin was during each time with the avoidance of the main 10 day increases, as indicated by Fundstrat information. 2017, for example, had an aggregate of 12 days speaking to the entire year return of BTC.
In any case, the investigation for the S&P 500's execution backpedals to 1954, while the nine-day normal for the entire year increases of Bitcoin just backpedals to 2013. This implies it is indistinct whether authentic examination on the decades-old securities exchange is suitable for the much more unstable digital money that is just 9 years of age.
Bitcoin is exchanging at the breakeven cost of mining, at about USD 8,000, in light of a model by Fundstrat, Bloomberg included. "We see positive impetuses for Bitcoin later in 2018, including the illumination of administrative obstacles," Fundstrat investigators wrote in the note.
Likewise, Bitcoin's present low offering value, gives speculators who aren't comfortable with cryptographic money an opportunity to think about the business, as opposed to bouncing in feet in the first place, CNBC revealed refering to Lee. "As terrible as it feels at this moment, Bitcoin has significantly more upside," he said..
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What do you think of this:
https://steemit.com/monero/@aro.steem/monero-hard-fork-asic-resistance
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@haejin My analysis of the recent downtrend:
https://steemit.com/cryptocurrency/@examachine/btc-update-btc-price-further-weakens-the-trend-turns-downward
Previously, I correctly predicted that downtrend was possible:
https://steemit.com/cryptocurrency/@examachine/trend-update-price-stagnation-can-drive-prices-lower
Follow me for more technical analysis.
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It's likely to get cheaper before seeing new ATH. We could be in for a prolonged bear market lasting several months
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I agree with bat...if you look at all the big caps and alts, it's a textbook slow bleed to the bottom...but this is normal and healthy...per my links I've sent over the last few weeks, large players are jumping for joy on seeing projects at these levels..the only thing that sucks balls is that it may not bottom until summer...i don't know if any of you remember my comments from right before Futures launched..but isn't it interesting that the top was right when that started...I traded futures and it was a shit show....the algos will just tear the market to shreds with false rallies all the way down...it will make everyone throw in the towel...right when that happens is when it gets real interesting...plus we don't have enough data showing whether crypto is a bell whether against a stock market crash...things are looking dicey to me in equities, so we should know within the next few weeks......
One thing I wanted to add is that, in my mind BTC represents a paradigm shift..it is something we have never seen before....i may be totally wrong on this, but almost everyone is expecting a draw down to $3000-$4000...not sure if the whales and hedge funds are going to allow that because it's too obvious...we may hopefully see more consolidation within this triangle before we see new highs...just food for thought
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We could be in for the ABC and were I. The start of B so C down could be hard around July.
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hey shawnster you did indeed call it correct my friend ! I think a lot of people got carried away with greed and didn't sell when when the writing was on the wall (myself included to a degree as I didnt sell early enough). You called it correct futures screwing the market and that is exactly what happened. I think you are correct again this may continue with false rallies until most throw in the towel and has Haejin predicted ages ago, people will spit on the name of BTC. Then and only then .... could it be a great time to buy because the rewards could be massive ! - although of course it could also go the other way and we all end up loosing everything, if the banks crash the system and force everyone onto something new, bypassing crypto altogether lol.
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Hey bat, great points...it could go either way...maybe the algos will allow the big players to accumulate enough and send the price soaring.....or crypto will be dead just like Gold and other commodities and chop around for centuries allowing only hedge funds and large players to make money....i watched a great video from Carter Thomas today that was one of the best I've ever seen...he's on Youtube....he did mention this choppy bullshit that could happen, (BUUUUT) we have a chance to circumvent this by telling our friends and colleagues about crypto and showing them how to buy and store it which will overwhelm the high frequency traders and manipulators so much, they will give in and let it explode...this will only happen if we get people excited about it again, and use it like it was meant to be used...use it to pay bills or buy lunch...or use it as a payment option on your website or at your business...if this happens they don't have a fucken chance...and we weren't able to do this with other commodities that the manipulators were able to neuter...so it will be interesting to see, but I really don't have much faith in this sector anymore..instead of backing each other up and helping each team succeed, we have a bunch of children spending all their time and energy shit talking and spamming false lies online in order to discredit the other competitor..plus 90% of the investors don't even use the technology..they just want to get rich..money is awesome, but we have to bridge the two if we want this experiment to succeed...we shall see friend
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Hope he downvotes all of you!!!
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WARNING - The message you received from @Haejin or @StarJuno is a CONFIRMED SCAM!
DO NOT UPVOTE & DO NOT TRANSFER any funds to these people!
Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX EVASION.
Any money you send to this criminal organisation can be traced back to you.
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we may not hit the bottom yet. look at this scenario. ABC correction where subwave 5 of C in progress. in that case We will drop below $5900 from FEB 5th.
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which one ? would you mind pointing out ?
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yes sir , because by rule 3 can't be the shortest of 3 wave. so if don't assign 3 down at where it shown it will violate Elliot principles.
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Your sub A should be correction B because it's higher than your sub C.
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Ladder the entries.
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WARNING - The message you received from @Haejin or @StarJuno is a CONFIRMED SCAM!
DO NOT UPVOTE & DO NOT TRANSFER any funds to these people!
Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX EVASION.
Any money you send to this criminal organisation can be traced back to you.
For more information, read these blogs:
@FlagAWhale | @TruthTrader | @IKnowWhoYouAre | @Steemit-Abuse
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