Bitcoin (BTC) Evening Update: Bitcoin's Crash Can Wait! New Target towards $15k or higher.
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SUMMARY
Bitcoin (BTC) price action during the day pinned higher and newer all time highs! I've updated the Elliott Waves to show how wave iii can complete at or around $9,400 to $9,600 or so.
The below shows a very ominous looking bearish wedge and a possible a,b,c correction that could knock down Bitcoin by 42%! It's something to keep an eye one.
I now detail out the wedge fractals that occurred prior and how each declined to the start of the wedge. Now view the third fractal. I've MOVED the wedge a step down. Compare this with the chart above. This means that the third fractal has already executed with the recent expanded flat correction. And BTC price now is continuing up with minor, healtjy corrections. This is a significant distinction and a sizable departure away from what many analysts are now calling...a top. I disagree.
Based on the below chart, BTC is in a bullish uptrend and has already pierced through the upper channel trend line. If this Elliott wave count is correct, the blue wave 3 will trumpet the arrival of $10k followed by a healthy correction and then to $13k and then higher towards $15k or so.
The video has TONS more details and ties in everything much better. Please consider viewing it.
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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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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Forward discerning the current pattern, I expect my family to toast to you, Haejin, every Thanksgiving, for countless generations. I begin to grasp the full power of what you are creating here. My massive profits are meaningless. I am here for your True Teachings. I am very bad at a great many things, but I always recognize Truth when I stumble upon it. It's my redeeming quality. We raise our glasses, and we toast to you, Sir.
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And crypto
Thanks haejin. This is very informative. There are lot of ways to look at this as you've shown and its a wait and see which ones will complete and confirm. If ever bitcoin goes into a massive 42% correction, any suggestions on which altcoins to best park our money?
FIAT
Do you have any recommendations for an up to buy for BTC? I have heard purchase up to $10K. I want to buy BTC to trade more Alt coins but don't know if that is the right mindset.
Wow! The vids keep getting better and better. I'm really starting to see the charts through @haejin 's lens because of the vids, tutorials, and books. Already seeing results! Thanks @haejin !
I wish you MASSIVE profits!
Awesome sauce...
9000!!!
Hi Haejin, just watched your laddering video, really great advice!
I have a question however, I am in another country and local exchanges are limited compared with US, some don't even allow limit orders so have multiple accounts also so I can access more coins.
Use bittrex to get XWC, SPR, GRS and couple others however I cant buy using USD so I send BTC or ETH or something in, sell and then buy the coins I want, then the issue is selling, i have to sell to BTC, send back to my local exchange or wallet to sell if want to get some FIAT out to my bank.
Hope this is making sense, so I can only set limit buy/sells in BTC, which really only works very short term.
Can you make any other suggestions, as this makes laddering very difficult and spending a lot of time checking prices constantly, ALTHOUGH VERY GRATEFUL so far as am making money and in profit! Also thanks to the amazing info you provide!
Then buy/sell only to /BTC but still ladder. /usd is used only as example in tutorial video.
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Thank you kindly.
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