Bitcoin (BTC) Evening Update: Counting Subwaves = Quality Control of Elliott Wave Accuracy
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SUMMARY
Day time price action for Bitcoin (BTC) worked on placing almost all five waves of an impulse as shown in below chart. The first and best indication of a trend change is a motive set, an impulse set. However, wave 5 of this first set don't seem to be complete yet.
I've labeled in more detail the subwaves of blue wave 3. This subwave counting is a very important quality control move. It allows you to gain greater confidence that the blue wave 3 is corretly positioned because you can count all five subwaves. Once blue wave 5 commences, I'll be counting its subwaves to confirm and project completion. This will be quite useful because it helps forecast the coming a,b,c correction.
(Note: The video has the blue wave 4 overlapping with the wave 1. I had not raised the blue 4 on the video but this chart is the correct count.)
Here is the bigger picture brining Bitcoin price to $26,000 or so. So, from the perspective of a higher degree of trend, curen white wave 1 is nearing completion. Short term target is $17072!
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.**
BCH: Heir Apparent
Finally! If NEO makes a good move I'll be putting my profits on BCH.
Thank you, you are getting good at this!
yeah bought in at haejin last update, triangle has changed and alot lower now but does look like its going to pop
Just as I thought, we are just getting started. This Bitcoin machine is absolutely UNSTOPPABLE!!!
Haejin, I'm amazed to see the accuracy of your calls. On top of it, you charge nothing. Other people are charging upwards of $1000 an hour for the same thing. Wow! Thanks for what you do in this community. It is awesome!
Nice one
Bitcoin $17777 to 18888 very Nice numbers for 10122017 @haejin
HODL on tight and Catch a Wave
Gorgeous...just gorgeous...sexy too...upvote if you feel it too...
Thank you for sharing your knowledge Haeijin. Once we reach the $26k target for wave 5 - am I correct in thinking this is the end of wave 3 for the bigger wave pattern?
If so were should this then correct towards?
Wow thanks so much for your daily updates haejin. I just found you and will be following daily. If your analysis pans out and I can profit using it, I will be sure to send some crypto your way. Blessings keep posting I am watching and sharing. Thanks
Thanks again @haejin. These updates give a much greater perspective on how things are panning out.
thanks for this haejin. not only does your posts reassures me, they also help me improve with my TA skills.
today, i got out of btc @ $17k to catch these mini alt dips. they are easy 20-30% gains after btc dips.
great, keep up the great job.