Bitcoin (BTC) Evening Update: Not Out of Correction Woods Yet....
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SUMMARY
NOTE: If this blog gets downvoted; @ranchorelaxo has our backs!!
IF the recent decline was circled blue wave 2; then it could be complete as shown in below chart. The MACD is also curling up. However, we are not out of the woods yet. What is needed? Higher highs are rquired. If the MACD does still rising; then price could get the support to start upwards towards higher highs and initiate the wave 3 pathway. Bear in mind that there are many ways to label these and I am aware of just about every possible variation. However, Technical Analysis is no more than a process of identifying as many possibilities and narrowing them down to a primary and an alternate price pathway. It's a game of probability and not certainty. So, let's see how the overnight price action rolls in.
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.**
I could not help myself and took a little bit of profits off the table. Not too much, mind you, but just enough to be able to sleep well if this tanks any further.
I don't recall hearing of anyone ever going broke taking profits.
Thanks for update!!
Could you please do an update on Ripple?
Yes, an update on Ripple will be greatly appreciated. I sold all my ripple some time back, do you think it is worth getting in again, if yes for what price.
XRP
just realized ripple is a fidget spinner
Yeah, I wouldn't mind this one! :-)
Yes i need the next dip to rebuy
buy BTC when not too late, but if someone did not buy it for $ 1 never late to repeat the success and buy XRP and BTS they will make millionaires many more people !!!
I totally agree with you, that is the reason I got into cryptos with whatever small savings I have.
Excellent work as always.
Beat Everyone to the Exchange.
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I rather learn from Haejin and trade off my own charts. Maybe not always so profitable, but still most rewarding.
Thanks for the update, @haejin. I have bought some at these dips, and looking to hold in the medium-term.
I would like to know your views on Bytecent. Is there something in it that interests you?
this is a good news, I hope that it goes up all the way bitcoin carry steem and sbd along with it.
Bitcoin will reach higher price this 2018 if the predicyions are true.
@haejin's asshole smells like whale dick.