Bitcoin (BTC) Morning Update: Short Term Target $12,809...check out this Analysis and Video!

in bitcoin •  7 years ago 

SUMMARY

Overnight price action allowed another smaller correction that could potentially provide some price pathway clarity. The video has lots more details and scope. The below chart shows last night's wave c target at being on the trendline.


https://www.tradingview.com/x/Xu426nkR/

I've updated the Elliott Waves as shown below and now raised the leftmost red wave (c) and labeled an impulse (white waves) which was followed by a regulat zig zag which is complete. So what does this mean as likely next move?

https://www.tradingview.com/x/IAM9xB3k/

I've positioned a price pathway towards $12,809 as shown below. The key move here is to set a higher high and so breaching above the white upper channel would be key.

https://www.tradingview.com/x/2Q0PJgZK/

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?

Follow me on Twitter for Real Time Alerts!!

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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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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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7 years ago by

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    • [-]
      ·  7 years ago 

    Thanks, @haejin. When do you see a correction taking place? This market is behaving unlike I've seen before in crypto land.

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    [-]
      ·  7 years ago 

    @Haejin! Audio isn't as good as usual just to note.

    Also - could you please provide us with updates for ETH and LTC? Thanks a lot again!

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    [-]
      ·  7 years ago 

    Hey mazcoin you have Mazacoin????

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    [-]
      ·  7 years ago 

    @tt-dogg I don't buddy - but does look like a fine example of a cup and handle :P

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    [-]
      ·  7 years ago 

    How did you even found this coin. It seems like a leisure project. Good way to have fun. Suicidal as an investment.

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      [-]
        ·  7 years ago (edited)

      Mazacoin was a disaster. Lol
      But I had a little.. worst fucking investment ever. Lol the only coin I ever lost money.

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      [-]
        ·  7 years ago 

      Thanks Haejin for the TA. Would you look at EOS, cause your retracement wave i think i took a different path

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      [-]
        ·  7 years ago 

      Eos testnet is supposed to drop today. Expect a spike as long as no bad news comes out. But knowing dan. ...it will be ready.

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      [-]
        ·  7 years ago 

      Bitshares breakout, we had a triangle

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      [-]
        ·  7 years ago 

      Hi Shifu!
      What's your take on ETH at the moment? I HODLed my BCH instead of taking my 4-5% profits and finally sold it all few hours ago at a loss for bit of STEEM and mostly NEO (got in under $40)

      Considering your previous updates and my fundamental analysis I'm on ETH expecting higher percentage gains compared to BTC. I'd be happy to know your thoughts.

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      [-]
        ·  7 years ago 

      Fractals from yesterday......continued......so much fun to watch them repeat as planned!

      btcfractals3.png

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      [-]
        ·  7 years ago 

      @haejin, is this how GRS correction could play out? or do you have it still impulsing?

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          ·  7 years ago 


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          [-]
            ·  7 years ago 

          So still suggesting some up trend....perhaps weakening...no longer $13,000+ short term target so it appears...thanks.

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            [-]
              ·  7 years ago 

            It might be just wave 3 target to get back in to the pipeline?

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              [-]
                ·  7 years ago 

              hey heajin,,your all content absolutely momentus..especially thanks for discuss to bitcoin..

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                [-]
                  ·  7 years ago 

                Thank you. Audio issues though.

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                  [-]
                    ·  7 years ago 

                  Thanks, Haejin. I wish I was as smart as you.

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                    [-]
                      ·  7 years ago 

                    Great video and information. Thank you Haejin.

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                      [-]
                        ·  7 years ago 

                      Thanks @Haejin!

                      Please if possible could you do an analysis on Name coin (NMC), thank-you.

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                        [-]
                          ·  7 years ago 

                        Thank you Haejin! If there is time for it...could you have a look at Clubcoin? Ty!

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                          [-]
                            ·  7 years ago 

                          Been practising a little and this is my second effort doing it on myself :-)
                          Problem is ....how would it continue from here? Still learning but compared to my first drawing this looks a lot better (even if its wrong hahaha)
                          clubcoin.png

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                            ·  7 years ago 


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                            [-]
                              ·  7 years ago 

                            Thank you solis....better wait to see where this goes then ;-)

                            I did improve my drawing didnt i??! haha

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                              [-]
                                ·  7 years ago 

                              Setup buy ladders. My favorite trades happen in my sleep. No time to wait. If they don't get filled, no problem.

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                                [-]
                                  ·  7 years ago 

                                actually i think last one you made will be the correct one, club had very long extended 5th wave so must be a big correction!

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                                  [-]
                                    ·  7 years ago 

                                  Wow...NEO and BTS are making significant moves...you had suggested such...too early to take some cream off the top?

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                                    [-]
                                      ·  7 years ago 

                                    @haejin Audio is very poor on this recording, can't hear much :(

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                                      [-]
                                        ·  7 years ago 

                                      Thank you!

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