SUMMARY
So overnight, price decline further down incrementally. The below chart shows an updated Elliott Waves for the subwave of red C. IF the wave 1,2,3 are complete and 4 up is next with a lower low on blue 5.
The overnight decline has created bull wick event as shown. This likely has completed the red C wave of the ABCDE sequence. Within the contracting lines of the symmetrical triangle, the remaining waves red D and E remain. However, keep in mind that the breakout could occur at wave D. In order for this scenario to take places, the lower white support line of the triangle can't be decisively breached.
In the bigger picture, what has changed? Nothing. So, whether Bitcoin decides to take the first or alternate road; it won't make much difference; counter to R. Frost's beautiful poem.
A BONUS: A $500 Tril Crypo Market Potential?
For anyone who get down because of a correction, however large or minor, or feel that they are losing some faith in Bitcoin, the below outstanding video by Tom Lee of FundStrat should be very helpful. Whenever you feel down on Bitcoin, view this video which is an absolutely amazing fundamental assessment of the Cryptosphere market.
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.
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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Follow me on StockTwits for UpDates!!
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Tagantjärgi targad :D
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$100,000 Bitcoin by the end of 2018!...:)...
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In the video when he showed the chart for "Trust in Government", we are on Wave 3 right now....our trust is going to go even lower...bet that means more BTC users :)
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BTC 5 years price comparison
May 5 2013 $ 113.46
May 1 2018 $ 9,003.00
In 5 years BTC increased 7,934% from 2013 to 2018
That’s an average of 1586% per year
Let’s be conservative and let’s say that it will grow 1000% in the next 5 years
Because of the big whales or FUD or whatever reason.
$ 9,003.00 X 1000% = $90,030.00
This comparison is based on numbers and numbers never lies
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided is based on documented
Historical prices and is just for information purposes only and it’s not in anyway
An investing advise.
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Thanks for sharing this! You rock!:-)
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Excellent Post, if you have time I hope to check my Blog, God bless you.
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Thanks for recommending that video @Haejin. Very good stuff. I didn't realize that the Millennial generation was bigger than the Baby Boomer generation. It shows never to trust one source like Harry Dent. I believe Bitcoin will be the asset class for the Millennials driving it to at least $10 Million by 2036.
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Great Post !
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Chainlink and Request Network Please they are near breaking through
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Update BitShares would be nice.
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I too can't get enough bitshares updates but it sounds like you might have missed his BTS update from just 3 days ago
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Because, bitshares are so cute..
Thank You Haejin ! I really like to see one whole yt or dt videos all about bitshares. Dont get me wrong, I am here from early november last year and I watched all of Your clips . So, I am pretty much sure that You are decent person, about mine age, well educated, cultured..
sorry on my English and all the best to all !
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And thanks for the great video...
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I mean TA update with counting Elliott waves! The "update" from 3 days ago are just drawings: https://steemit.com/bitshares/@haejin/bitshares-bts-patterns-elliott-waves-and-indicators-all-point-up
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Thank you!
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@haejin you did it again. Amazing call and spot on.... Keep it up
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Thank you very much at the beginning of Sir@haejin , so to post a nice bitcoin. In fact, we have always seen many types of post with bitcoin but we do not get the right news,
It's not always the case, but it's great to see your post giving you the right news that many good thanks for everyone, thank you for sharing such a beautiful post. Present this kind of beautiful post to us in the future. Have a nice day
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Thank you sir for your phenomenal analysis! I have been reading your posts for a while, and I've also started to learn your TA methods by watching your tutorial videos! I hope one day I can become as proficient as you are in this thing haha.
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Thx @haejin on posting this video.
he point out the reason people start to shift their money to cryptocurrency instead of real asset due to central government and banks hold most of the authority on most asset.
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I have to point out something, in one picture your impulse (white) is going to 11,800 USD
in the second picture your impulse for Wave 5 is going to 10,400. Both of these don't jive together unfortunately.
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