Bitcoin (BTC) Evening Update: The Bullish PopCorn Symphony of Altcoins
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SUMMARY
The day time price action was uneventful, at most. Forward discernment of price is evidence based. Based on the preponderance of evidence, it very clear that Bitcoin loves triangle patterns. Just in the vicinity of current price, two symmetrical triangles can easily be identified. Thus, I project that the current consolidation will likely take the form of a triangle as shown. It would be good to see an a,b,c,d,e type.
In the video, I detail out the reasons why Bitcoin is not expected to top out of what's being called the "bublicious" peak. First, the Altcoins are undergoing a bullish chart parttern speciation event of three types: Cup & Handle; Jaws of Wealth Pattern and the Downward Pointing Bullish Symmetrical Triangle (video has much more details).
Second, I'm calling it the Bullish Popcorn Symphony of Altcoins. We are already seeing more and more Altcoin prices are POPPING....no, EXPLODING upwards. I liken this to making popcorn in the microwave. At first, you hear intermittent pops which crescendo into a symphony of popping! Thus, until the Altcoins sing their bullish price solos, I belive Bitcoin will not top but rather sustain its uptrend with healthy corrections.
Third, many analysts are calling the BitCoin top day after day and failing. They are likening the top to an event and that is incorrect. A top is NOT an event. A top is a process and to see it as an event is wholly missing the forest from the trees. A different perspective and conceptualization are required to view topping as a process...and thinking like that is a departure away from herding.
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.**
dont put your coins on exchanges and there is a big altcoin rally about to come
I'm waiting for Exodus to add Ripple, then I'll be totally off the exchanges.
whats your view on cardano ?
This made me more hungry than it should have :D
Let keep up the Energizer Bunny routine in the Alts!
Speking of jack off fantasy, I can hardly wait for....
"The smart one's got out early."
I too love microwave popcorn and I think we will all need some when futures go live!
Please tell us what exchange wallet and charting software you use. Information is very good but if we lose all her money by using the wrong Wallet it will be useless. Hope you understand 🤗
Haejin uses TradingView for charting. It's quite good... and free to use.
I'm not sure about the wallet. I've been thinking about getting a hardware wallet (Ledger or Trezor) as it seems like the safest option.
Hardware wallet definitely the best for longer term holding but if you trade regularly you will need to leave coins on your exchange/s as its time consuming and costly to keep moving coins back and forth. I use a trezor having been burnt by bankrupt exchanges before.
I highly recommend ledger or other hardware wallet. By far the safest and support for more coins being added all the time. Plus any erc-20 coin can be used even if it doesn't have native support by using myerherwallet.com.
And Tradingview is awesome, it has changed my life
I know. It's great isn't it. Have you sprung for a paid membership? I'm just wondering if it's worth it.
I use a Trezor, but lately I discovered - Thanks to Haejin - Bitshares. Which is a decentralized exchange that practically eliminates the risk of getting hacked. You should definitely check it out. Haejin also believes it will be worth $300+ over the long run (and according my personal research, he's analysis might be even conservative).
I should say, do your own research, but if you are ready to become part of Bitshares, it would be nice if you will consider registering via my link. If you don't like so, feel free to remove the referral part of it. ;-)
https://wallet.bitshares.org/?r=newlife8
Already on the Bitshares train. The risk of the exchange being hacked is eliminated but the local risk of your point of access to your wallet (your computer/phone) still remains.
My understanding is that a hardware wallet removes this local risk. So, a combination of the two sounds like the ideal situation.
+1 for ledger nano s
For Bitcoin (btc) I highly recommend blockchain.info it is the best one in my opinion.
Can we store ALT coins purchased using BTC to Blockchain wallet?
I have a Ledger Nano S.
I enjoyed your insights about time and sentiment, I agree.
As I listened to you, I had a flash back to my childhood of my mother playing the accordion.
The accordion would expand and contract as the tune was played out.
The interesting point of this metaphor is that with the accordion (time), the tune (price/sentiment) is played out when the accordion is expanding or contracting! And if you close your eyes, you can not tell if the accordion is expanding or contracting, as you listen to the tune being played out.
Thanks HAEJIN , you cant quite imagine the positive impact you have had !!!!
Thx Maestro for this performance!
Anyone can explain me pls how to set limits and stops when it’s against btc? we are reading about limits in usd, but Bittrex works only in btc and it moves all all the time. So if I want to sell for example BTS at 0.47usd how do I count it?
Thx in advance!
thanks, thanks, thanks!!!