Bitcoin (BTC) Mid-Day Update: A New Fractal Could be in Progress
SUMMARY
When Bitcoin (BTC) hit $5,900 bottom, price had surged with montstrous daily volume. This surge can be seen inside the purple box as Fractal #1. Following the surge, Bitcoin made three smaller peaks before declining towards the lower line of the channel. The price inside the blue box could be a potential Fractal #2 with price about to form the second and third peaks. The third peak could mark the top of wave 3 and the subsequent decline towards the lower line mark wave 4.
To further consider and have in full awareness is the below pattern. The upper white line connects the first two declining peaks. Price rising to $12k level would represent a crucial unction. IF this pattern plays out, the final wave E could define a lower low. We would need an ipulsive natured set of actionary waves that decisively breaches the upper white line. However, with the coincidence of the larger Head & Shoulders occuring at this level as well; the breach might not occur without first a minor pullback.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It shoud not be considered financial or investment advice of any kind. One should consult with a financil or investment professional to determine what may be best for your individual needs. Plain English: 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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BTC/USD
Sarcasm? It seems to me there are lots of lines... :-)
Positive gains over the last week. Nice
Thank you for this update. That's an interesting take. My primary is kind of similar, meaning a new lower low.
What do you think about this count? 3-3-5 correction with expected resistance at $12300 and then down to around $4000.
It's a possibility for sure, volume and sentiment seems pretty intense for a "b" wave at the moment, I feel like it'll smash through all the upcoming resistance ; but we don't go by feelings now do we.
I've been waiting for 4k since weeks now, much better than another month of choppiness.
https://steemworld.org/@haejin
So what you're telling me is Haejin needs more tips? Say no more!
Keep it up, BTC, keep it up!
Thx again ! Keep it up!
It'll be wonderous
Thank you Haejin.
This post is very informative.. Continue the good work
Haejin. I have noticed you rarely do popular alts other than bitcoin. Eth, neo and ltc are very rare on your blog. Anyway to get consistent follow ups on those? I feel there are a lot of pump and dump coins I see on your blogs nothing wrong with that but I think it would help a lot of users to have set rythem around popular alts. No?
Good work,keep it up.
Voted!