SUMMARY
BTC is moving higher and has posted a higher high! Those of you who placed buy rungs alongside me should have all your rungs at profit. I've drawn out a Head & Shoulders Bottom pattern (neck line blue). The dotted line shows a minimum target of $4,100. Wave iii (circled) is expected to rise to $4,300 or so and wave v (circled) to around $4,600 or so as there is where the next concentration of resistance resides. Even with the additional China bad news of Draconian steps this morning, BTC is rising. That's a GOOD BULLISH SIGN!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
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.
your chart analysis makes a lot of sense. thank you very much for posting these updates. Do you have any suggestions for someone that wants to learn Elliott waves? just by watching and listening to you ive learned alot in 2 weeks but i want to be a pro and I want to be able to analyze these charts like you do. is there a book? or some youtube videos or something that can help me? I know it also comes from your 15 years of experience. but for someone starting out, what is the best thing to do?
Thanks!
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Haejin recommends some books in previous posts.
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Haejin would you mind sharing with us what alt coins you are most interested in during this bitcoin rise? For the smaller investor, they stand to make much more profit off of alt coins that are tracing with bitcoin.
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Thanks again for this analysis! Lets hope for higher highs and lots of profit for everyone!
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Thanks, great update. I feel the news about the 'Draconian measures' has not sunk in fully tho.
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By the way, you are getting real handy at this labelling ! :p
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Great..will you share with us if and when you think it turns bearish...so we will have adequate time to take some profits, too..it has been a rollacoaster two weeks, as you probably know. I think I need a break..exhausting even with ladders in place. BUT very exciting....adrenaline kicks in!
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Absolutely!
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Haejin, You are awesome!
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Thank you for the useful updates, I'm just starting so all these graphs look so alien to me but your explanations was very clear and surprisingly I'm starting get a little understanding from the zig zag lines :P
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Thank-you! Learning a great deal from you.
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@haejin thanks.
I think this got invalidated by today.
This period of downtrend can not be as short as this.
The recovery from 3000 was very fast because the rumor is that JP Morgan bought into BTC. Those guys have always more and more numbers in their sleeves. I expect another and deeper crash.
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Please see my update just posted:
https://steemit.com/bitcoin/@haejin/bitcoin-btc-update-it-s-critical-for-the-blue-line-resistance-to-be-breached
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Interesting article. Same thoughts here. The cryptospace definitely feels a bit inflated. However we also said that about the S&P 500 40 years ago I found this amazing platform: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market. Go to: https://www.coincheckup.com/coins/Bitcoin#analysis To watch Bitcoin Investment research report.
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