Bitcoin (BTC) Morning Update: Minor Wave 4 Correction in Progress

in bitcoin •  7 years ago  (edited)

SUMMARY

Bitcoin (BTC) overnight price action just almost tagged the $10k level; clearly the pyschological level for most. Regardless, the best wave to breach this level would be wave 3 of 3 which is the current wave as it has the most gusto. The below chart shows an earlier chart shared yesterday.

Based on the rule of Alternation in Elliott Waves, wave 2 and 4 alternate. If wave 2 was a simple abc; wave 4 is likely to be a complex type and vice versa. Therefore, the current wave 2 of 3 appears to be a simple abc; thus wave 4 could be drawn as a bit more complex as shown below. The triangle would meet the alternation rule perfectly.

However, trying to overlay such a rule, which was derived from equities personality, onto cryptos might not be a smooth transfer. The reason is that cryptos have a very different personality than stocks. So, the adherence to the rule of alternation for cryptos has not been as dedicated as stocks. It is about as likely for wave 4 to result in a second round of a simple abc correction as shown below. IF so, wave 4 could decline towards $9,250 to $9,500 or so.

Legal Disclaimer: 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.

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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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thank you for your analysis. I follow many TA analysts and as you know it has been very difficult to TA Bitcoin lately. I would like to commend you for being the most accurate out of anyone in the past week.

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অ্যাকাউন্ট খুল্লেই পাচ্ছেন 290 ডলার = ২৩০০০ টাকা একদম ফিতে তারাতারি করুন Payment নিন Bkash এ
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I wish you MASSIVE profits!

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

@haejin we seriously trust your predictions about the crypto currency because you are one of the best predictor i know.
Thanks for sharing this beautiful and informative information that helps to invest our money in bitcoin, because it will surely grow in approx next month.
So just a thumbs up for you...

pullback mode on!!! good news for us all! GREEN IS MY FAVOURITE COLOUR!!!!

Thank you Haejin!

  ·  7 years ago Reveal Comment

@haejin !!! you have it totally backwards! you are seriously sending your followers to attack a totally innocent person

i was genuinely sending you a script to correct your mouse issue. I really don't appreciate being falsely accused of sending you a virus and being called an SOB on your channel. I don't want your army of followers attacking me when in fact I was helping you. I am not a troll, i'm one of the good guys.

You had it backwards, you actually believed the TROLL who was saying its a stuxnet virus...thats a virus the US gov used against the iranian nuclear computers. you can check the wiki.

for more proof that its not a virus, here are some links where you can see for yourself

https://stackoverflow.com/questions/4437204/how-to-hide-mouse-cursor-with-jquery

https://stackoverflow.com/questions/1071356/is-it-possible-to-hide-the-cursor-in-a-webpage-using-css-or-javascript

i will also break down the code in its entirety. maybe you don't care but someone else can learn

$('td.chart-markup-table.pane')[0].setAttribute("style", "cursor:none");

$('') <----- this is a jQuery selector. It will find and return any elements on the page that satisfy the condition within. In this case, the condition are the names 'td, chart-markup-table and pane'. Tradingview has all of these tags on the candlestick pane. this is the panel we will hide the mouse on

[0] <----- since the selector might return multiple items, we have to pick which item. this selects the first item that is returned

.setAttribute("style", "cursor:none"); <----- this is pretty self explanatory, but it applies an attribute to the element we just selected using the first 2 parts of the script. in this case, we are setting the 'cursor' style to 'none'

@haejin i'm sorry if you thought it was a virus but its not. Please take down the part trying to attack me from your page. I am a fan and supporter of yours and this is not cool!

you can also check some of the other posts on your page i've left....the ones where i defend you against the trolls and say you are not abusing the system. The ones that say you draw new people to steemit where the trolls drive them away. I feel totally betrayed

Haejin.png

do you post this on every one of Haejin's posts?

  ·  7 years ago Reveal Comment

Hello Haejin,
I like so much the content you are sharing. The guy telling you to run a script was making a joke to hide your cursor from the current page, nothing harmful. refreshing would have solved the issue. and the other guy, took it to the next level!
Do you have the same problem with other sites? have you tried another browser, like Internet Explorer or Firefox? Answer some questions, eliminate some causes and you will find the problem origin

@haejin this^^^^ I am not an SOB, i was genuinely sending you a script to correct your mouse issue. I really don't appreciate being falsely accused of sending you a virus and being called an SOB on your channel. I don't want your army of followers attacking me when in fact I was helping you. I am not a troll, i'm one of the good guys.

You had it backwards, you actually believed the TROLL who was saying its a stuxnet virus...thats a virus the US gov used against the iranian nuclear computers. you can check the wiki.

for more proof that its not a virus, here are some links where you can see for yourself

https://stackoverflow.com/questions/4437204/how-to-hide-mouse-cursor-with-jquery

https://stackoverflow.com/questions/1071356/is-it-possible-to-hide-the-cursor-in-a-webpage-using-css-or-javascript

i will also break down the code in its entirety. maybe you don't care but someone else can learn

$('td.chart-markup-table.pane')[0].setAttribute("style", "cursor:none");

  1. $('') <----- this is a jQuery selector. It will find and return any elements on the page that satisfy the condition within. In this case, the condition are the names 'td, chart-markup-table and pane'. Tradingview has all of these tags on the candlestick pane. this is the panel we will hide the mouse on

  2. [0] <----- since the selector might return multiple items, we have to pick which item. this selects the first item that is returned

  3. .setAttribute("style", "cursor:none"); <----- this is pretty self explanatory, but it applies an attribute to the element we just selected using the first 2 parts of the script. in this case, we are setting the 'cursor' style to 'none'

@haejin i'm sorry if you thought it was a virus but its not. Please take down the part trying to attack me from your page. I am a fan and supporter of yours and this is not cool!

  ·  7 years ago (edited)

@sandman0615
There is no virus in the script. It is obvious that you were trying to help.

thanks! I can understand being wary of running a stranger's script, especially with crypto, but theres no reason to put me in the video and tell people to downvote me. @haejin

I will retract and post that in a coming update. Sorry for any harm done.

  ·  7 years ago Reveal Comment

@ackza can probably retract the statement where he says its a virus, but he seems like a big troll so i doubt he would

ohhh rrrright! UPVOTING! ^^

Weather is nice, bitcoin is coming alive what more can i ask :D?

Hello and thanx again @haejin. İn your own measuring style which I like alot height of wave 1 x 1.5 gives height of wave 3 which is sub3 of blue wave3 correct ?? or what happened to 3 *1,618 measuring style? I like the way you go and see things a lot. Please keep em coming..

Wave 3 is usually 1.618 to 3.618 of wave 1 for me in cryptos

woaow. thnx for ur reply .thats a big difference...how do you determine to choose?

  ·  7 years ago Reveal Comment

해진님!

I signed up and I am new to Steem. Not quite sure how voting works here but I did upvote.

haters will always hate. They are losers.. don't mind them

Thank you for your hard work
Everyone due your own DD

I appreciate your comment. Upvote is most effective if you add Steem Power. Here is video on how to do that:

Thank you! Will look into this!
Been following you on Youtue and Twitter

Your posts have been helpful during this downtrend!
감사합니당 ^^

welcome to the community, can you tell me how many days did it take for you to get your steem account approved please?

I never thought of the ABCDE...just assumed a simple 3 wave. Have factored that in, and adjusted the target zone of the final correction wave to be more conservative (from 100-161%). Thanks.

appreciate the post

What is you take on Litecoin?

Thank you sir

The sheep need a shepherd.
The sheep need to be told where to go and what to do. They are unable to learn and make their own decisions.
This is an educational channel. I am learning a lot from Mr. Lee about Elliot Waves and above all, about human psychology and behavior, something very useful for making my own decisions.
I am not that sheep that looks at the pastor to tell me where to go or what to do, but I listen carefully to his teachings and then make my own decisions.
Please, I want to ask those people who try to disqualify Mr. Lee to refrain and if this channel and its information is not profitable, leave Mr. Lee and all his followers in peace. They are not only hurting Mr. Lee but also a whole community that wants to learn.
"Live and let live"

Thank you very much, Mr. Lee.

Dua Lipa - New Rules (Official Music Video) 2018 http://1ink.cc/IqZqN
DIY HEALTHY Drinks! | DIY Refreshing Fruit Drinks 2018
http://1ink.cc/S7KWa
Account খুলেই Unlimited টাকা নিন বিকাশে। টাকা
http://1ink.cc/0St09
ফ্রি তে নিয়ে নিন ২০০০ টাকা একাউন্ট খুলেই || ইনভেষ্ট ছাড়ায় ইনকাম || কেউ মিস করবেন না || http://1ink.cc/U4h4Y
অ্যাকাউন্ট খুল্লেই পাচ্ছেন 290 ডলার = ২৩০০০ টাকা একদম ফিতে তারাতারি করুন Payment নিন Bkash এ
http://1ink.cc/XsTqy
Imo দিয়ে দিনে ৩০০ থেকে ৪০০ টাকা ইনকাম করুন।বিশ্বাস না হলে ভিডিওটি দেখুন।
http://1ink.cc/eSxsv
দারুন Apps রে ভাই যা ইনকাম করবেন সাথে সাথে পেমেন্ট বিকাশে।
http://1ink.cc/D6EAa
বুক ফাটা কষ্টের একটা গান - না শুনলে চরম মিস করবেন
http://zipvale.com/Gd1h
Ki Kore Toke Bojhai | কি করে তোকে বোঝাই | Asif | Kornia | Bangla new song 2018
http://1ink.cc/iFGxm
Habib Wahid New Song 2018 - Official || Moner Thikana || Full Track
http://festyy.com/wchwLZ

Thak you Haejin.

Excellent analysis, Thanks!

Thank you Haejin. Pleased to follow you now on SteemIt !

Thank you. Reading your blog avidly, very helpful.

In haejin we trust !

  ·  7 years ago Reveal Comment

All must remember the use of these TA's, they are not to tell you how/what to do but to provide us with a different possibility; you should all be doing your own TA and viewing helpful videos like this to see if you are missing something... Haejin, what is your view of the downwards price action thus far being merely the A wave down? The B incoming? followed by a C? Large 535 @haejin

Those fractals are pretty clear cut!

Any chance going down to $8.4k after $9.2k by this weekend?

Thanks for the update.

thank you sir..

THE BEST ANALYSE PERSON I follow ARE philakonecrypto and haejin lee.

You master

Dua Lipa - New Rules (Official Music Video) 2018 http://1ink.cc/IqZqN
DIY HEALTHY Drinks! | DIY Refreshing Fruit Drinks 2018
http://1ink.cc/S7KWa
Account খুলেই Unlimited টাকা নিন বিকাশে। টাকা
http://1ink.cc/0St09
ফ্রি তে নিয়ে নিন ২০০০ টাকা একাউন্ট খুলেই || ইনভেষ্ট ছাড়ায় ইনকাম || কেউ মিস করবেন না || http://1ink.cc/U4h4Y
অ্যাকাউন্ট খুল্লেই পাচ্ছেন 290 ডলার = ২৩০০০ টাকা একদম ফিতে তারাতারি করুন Payment নিন Bkash এ
http://1ink.cc/XsTqy
Imo দিয়ে দিনে ৩০০ থেকে ৪০০ টাকা ইনকাম করুন।বিশ্বাস না হলে ভিডিওটি দেখুন।
http://1ink.cc/eSxsv
দারুন Apps রে ভাই যা ইনকাম করবেন সাথে সাথে পেমেন্ট বিকাশে।
http://1ink.cc/D6EAa
বুক ফাটা কষ্টের একটা গান - না শুনলে চরম মিস করবেন
http://zipvale.com/Gd1h
Ki Kore Toke Bojhai | কি করে তোকে বোঝাই | Asif | Kornia | Bangla new song 2018
http://1ink.cc/iFGxm
Habib Wahid New Song 2018 - Official || Moner Thikana || Full Track
http://festyy.com/wchwLZ

Thanx for this grat research !