Bitcoin (BTC) Evening Update: Pathway to $12,482
SUMMARY
Note: Returned later than expected from traveling. I will start posting video updates tomorrow.
Last night I had posted the below chart showing the wedge pattern with re-drawn upper and lower lines. Also, rather than being labeled as a diagonal, the decline since $20k was Elliott Wave designted as an abc ZigZag. The final C wave was to likely continue to a lower low. However, a price Breakout well out and beyond the upper red line would be an ideal signal for a bullish trend reversal. It would be favorable if overnight price action can make trend line towards $9k.
Here is how that can be detailed. IF price completes the inverted, bullish Head & Shoulders patern, then the minimum price travel can be measured at $12,482 or so. This target is acquired through minimum price projection by measuring the distance from bottom of Head formation to the Neck Line (horizontal blue line). This vertical line is then placed above the Neck Line which shows $12,482. How could this be feasible? It needs to first start with a decisive breakout towards $8,995.
Legal Disclaimer: 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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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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BTC/USD
Breakout
Nope
Another Nope.
solisrex is haejin's best and royal fallower.
It's their way of communicating.
WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX ENVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW this person now. Do not UPVOTE or TRANSFER any FUNDS to his account. Any money you send to this criminal can be traced back to you. Haejin wouldn't be flagging me if I wasn't telling you the TRUTH. He doesn't like me telling you the TRUTH.
WARNING - WARNING - WARNING - WARNING - WARNING
solisrex is haejin's best and royal fallower.
It's their way of communicating.
Can't you set up your own shop? Your charts are really annoying.
"MUTE" me
Hi Solisrex sweet heart.
I think salahuddin2004 learned the lesson.
Thank you so much that you stand up for haejin.
We love you and thank you.
I am so pleased Haejin has an Angel to look after him.
Always, at your service.
WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX ENVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW this person now. Do not UPVOTE or TRANSFER any FUNDS to his account. Any money you send to this criminal can be traced back to you. Haejin wouldn't be flagging me if I wasn't telling you the TRUTH. He doesn't like me telling you the TRUTH.
WARNING - WARNING - WARNING - WARNING - WARNING
Hey Solis, for the length of wave three, are you using the chart pattern line to start the fib? It looks this way, but I just want to be sure:) Thanks in advance!
Trend-Based Fib Extension
Nice illustration! Still getting used to TradingView a few months in. This kind of thing is really helpful
Not helpful at all.
Do you use Tradingview? If not, I strongly recommend it, and it's free. What the image shows is this: From the left-hand menu, click on the icon shaped like a pitch fork. This brings up a menu of icons, part of which @solisrex shows. Select Trend-Based Fib Extension. Once selected, click once at a local bottom, so the bottom of wave 1. Click a second time at the top of Wave 1, and finally, click a third time at the bottom of wave 2. This lets you predict potential levels for wave 3. This is often at the 1.618 extension, in line with the circled wave iii in the image above. It can also be 2.618, 3.618, etc. This is an easy way to pick out some reasonable price targets. Hope that's more helpful...
How's that?
Agreed! I'm looking for a good training video on TradingView; I've spent a grand on 2 years for their most-comprehensive package, but I'm really only scratching the surface. Any pointers appreciated!
Thanks Solis! Very cool tool that I had no idea about. Much appreciated:)
Everyone please stop feeding haejin money! if you say that ten coins will rise a day obviously your going to get a few hits in this lucrative market. He makes multiple posts a day accumulating over 300 dollars a post. We need to stop feeding him money because all he does is decimate the reward pool and doesnt care about steemit or steemians! NO MORE HAEJIN
thanks. upvoted. Please upvote and comment my blog if you like
Bitcoin and the alts seem to be stuck in a narrow range. Looking for the news to cause the next breakout....either way.
thanks for your info
Why Cryptocurrency Investing is a Terrible Idea WARNING: ONLY READ IF 18+ AND ABLE TO HANDLE THE TRUTH... GRAPHIC LANGUAGE USED https://steemit.com/bitcoin/@investingtips/why-cryptocurrency-investing-is-a-terrible-idea-warning-18-only-graphic-language-used
lol
Yeah. This information helps. I think in few more days the drift will be more conspicuous. Nevertheless, it's just about been this is just an enthusiasts/expert opinion and not what will necessarily happen. But great info up there.
Maybe but what he really should be reviewing is hummus. I think hummus will be big. H U M M U S!
Such a exciting time to be alive! BTC will surge, everyone is waiting on this confirmation. It can go one more lower low to shake out the noobs but since I've been in this since 2013, I know BTC will never die, just your investment will multiply...Let's GOOOOOO!!!!
looks like one more lower low ... :(
Agree...looks to go down to 7800 then bounce then, if go lower, it will take while to go up past 7800.
good news! I love it
thats just a possible scenario. doesn't mean its going to happen. More analyst have talked more about a retrace back at 6k or lower!! And then Bulls kick in
Bulls just need to read Haejin's post and they know what to do. 😈😂
lol yes
so, this crypto and bitcoin is just a gamble. Its a beautiful thing. A global gamble where the world is playing. All the money in the world is being played.
Even the poor and even the rich can become rich or poor. There's no logic, you just need to get lucky enough to be with the flowing tide.
The creators have made it smartly, smart enough that there is no logic, its just playing on news and big investors actions.
Well,i kind of agree that it's a gamble but then it's all relative. Life's a gamble each time we wake up from sleep and eat anything we didn't control the ingredients of.
It's based on math and seems fair and smart. True,the charts have no logic like any financials.
The more we learn,the better we stand a chance at this game and DYOR. Good luck mate :)
Agreed bro.. The math is just to mine the coins.. But prices are merely a gamble.. Its fun.. U b a millionaire or u b a beggar.. That also just at a click ;)
My version's slightly shorter: "Every breath is a gamble." :)
I think there's a logic in the charts that I didn't perceive, six months ago. I really love Elliott Wave study.
Lol. I diggit. Found elliot waves too confusing until i tried harder and it makes a lot more sense now. I check you out bruz. Thanks for encouraging @libertyteeth
I don't think there is so much accident in this game... There a some big guys playing the puppets with tether, bad news and a lot of money (like spoofy).
This will probably drive the other alt coins up as well, thanks @haejin!
Good theory haejin. So when do you think BTC will break pass 9K by this time tomorrow?