Bitcoin (BTC) Morning Update: Correction is Likely to be DONE!! PRICE EXPLOSION IMMINENT!!

in bitcoin •  7 years ago  (edited)

SUMMARY

Overnight, Bitcoin (BTC) has completed what looks to be an a,b,c,d,e pattern as shown below. This is exciting! This means that the correction could be complete. Therefore, EXPLOSION IMMINENT!! I had not discerned this a,b,c,d,e until this morning! Even after 20 plus years, I did not notice it before this morning!

Revised Elliott Waves is presented with that same $23k target and it should be taken out shortly.

More details in video!

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.**

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Thank you happy and healthy New Years to you and your family!!

Another great analysis! Looking forward to new highs. Thanks @haejin and happy new year!
What’s your thought on SALT?

Other alt coins are also getting correction... today ether also shows some good correction in price. The best news is that steem is also correcting again usd. By the way great informative post @haejin. Your knowledge in cryptocurrency investment is amazing, no one can challenge you in this field.

Any advice if i should sell my ether or wait to a certain price?

What do you think about Digibyte, could you do a prediction on that? would be lovely

Thanks for the links to the Elliot Wave tutorials. Been looking for them for ages! Statistical analysis is the best way to predict trends and this tutorial makes it easy to understand. Everyone should have a look at them. Thanks again @haejin

Thanks buds just watched your video I love Elliot Wave myself! I have been buying BTC on all the dips I am HODL and staying bullish for long term. Glad i found you I appreciate the great content.

Thank you for your work, @Haejin.

After a few months following, I mostly try to do my own counts now, yet there is is still much to be learnt. I will go through the books in the very near future.

Keep up the good work, God bless.

It sure is good to have @haejin here constantly loading up with details we easily forget when walking our first steps :)

Absolutely agree. $20K will be broken in the coming weeks, days even.

Hello @haejin, i saw you all posts you always give us a great knowledge, we really gain alot of analysis. Thanks for giving us a great knowledge, Happy New Year!

Thank you

Thank you for the morning analysis of bitcoin. As always, Upvoted and Resteemed your page @haejin!

I love it when I see an ABCDE Triangle correction. Thanks for the reaffirmation @haejin !

What will happen with the ratios between BTC and the alt-coins?

when btc starts to go up you will not see much difference in alts, as soon it becomes serious alts will drop and when bitcoin hits 18-22k alts will drop hard (maybe even crash by 50-100%)

this has happened many times and is perfectly nomrmal.. as soon btc stabilized, alts will shoot up again.. the best is to sell some % of their alts into btc, for every 1k that btc rises.

There seems to be a paradigm shift in my opinion where altcoins are becoming more independent from Bitcoin.

I agree, and I think many have ditched BTC for good because of transaction price, speed, etc. I live in Europe, and I hear many referring to bitcoin as the modern Yahoo i.e. outdated technology, people are looking for the new google in the mix of altcoins.

Bitcoin
Pros:

  • 21 Million Promise (Digital Gold)
  • The go to currency to exchange into cash
  • The blue chip of crypto

Cons

  • It is slow
  • Can't update fast enough or won't update at all
  • It's so bad that people switch to ether to transfer to and from exchanges
  • Nothing new on the horizon

Will the promise of digital gold be enough. If BTC keeps rising just 5% because people just use it to buy altcoins than BTC dominance will keep falling.

and then when you add to it, that they can simply increase the block sizes and immediately fix the problem, it makes me mad that they refuse to do so, and even say that "high transaction fees are a good thing"!
And, who wants digital gold? - I will take real gold anytime!

I'm noticing the same!

Yeh I agree and as more alts are added to fiat to crypto services like coinbase the more this process will be accelerated

Yes, this seems to be good advice. It's all about timing. when Btc went to 16k I sold my alts too early and lost money .

Could we talk more about this. DGB, XVG what is the wise thing to do right now?
And what percentages are you talking about. I'm kind of a noobie so first time I'm in front of this situation.

Published at the top of the tender radiant sir always thank you for your great effort

Got my ticket for the moon express.

Well that's great news. I'd be getting some soon

I like this review of the current market. Should your analysis be accurate this is a slamming point to get in. Thank you for providing your observations and here is to you sir in this new year!

I just brought last night. It was good time to buy. Thank you haejin!

Fantastic analysis @Haejin! I'm wondering, since you are actively using TradingView, have you ever considered of linking your charts to TradingView itself? Would be nice to open your charts directly in there and naturally this will also have a positive effect on your Steemit channel :)

so any advice what price point to sell at?

@haejin.. I'm missing something. Where does the circled red C end? You have it under the circled red A.

WARNING - The message you received from @tripadvisor.com is a CONFIRMED SCAM! DO NOT FOLLOW the instruction in the memo! For more information, read this post: https://steemit.com/steemit/@arcange/scammer-reported-tripadvisor-com

Am still thinking if i should sell mine this week

@haejin is the best...

a very nice sharing thank you for the information @haejin

These jealous attackers are unbelievable.

I think this pattern also looks like a cup and handle formation.

https://www.tradingview.com/x/mlbEHMsB/

Hey haejin, how’s it going mate? Learning Elliot Waves is one of my 2018 new year’s resolutions so I’m following you and look forward to seeing more of your work.

I focus on pure price action around key support/resistance levels and my latest Bitcoin analysis actually is also telling me that a breakout to the upside is not far away.

Here’s to a safe, happy and profitable 2018. See you around! 😎

  ·  7 years ago Reveal Comment

Don't worry rachorelaxo will up vote and negate randowhale's flag. See randowhal takes people's money and promises upvotes for them. Then he turns around and uses it not upvote but instead flag postings and push people down. Why? Because it feels powerful to control the platform. One of those busy bodies who thinks he knows best for everyone. Control freak scum.

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