Bitcoin (BTC) Mid-Day Update: Five Wave Impulse Up Complete
SUMMARY
Bitcoin (BTC) remains above the upper blue trend line. The five waves up, which is the earliest indication of a trend reversal seems complete. The white waves in the below chart shows the $8,722 was likely the top of white wave 5. Elliott Waves states that after five waves there is a requisite retracement and the next chart provides a projected retrace.
The below chart shows an ABC option that would likely be a Flat given that wave A is three waves in subwave. B would also be complete and that C wave down is in progress towards the level of prior wave 4. The second option is an abcde (white) triangle and is quite likely given that it'll allow time to be extended. Let's see how this micro correction progresses and once complete, the next best ideal signal of a continued trend reversal would be for a second round of impulse waves up.
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 should not be considered financial or investment advice of any kind. One should consult with a financial 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.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
Thanks Haejin!
Buy the coming dip!
price overlay 2013-14 VS 2017-18
:D
New at this, but how does this look on the daily charts?
You can use the camera picture on the left of the twitter link on the right bottom of trading view, it takes a picture of your chart and you can then save it and copy past it in steemit ;-)
It looks right about 90 degrees wrong :-))
Realized how it came out after I had posted :D lol Ben flagged by Bernie sanders et al. Must be doing something right? Lol
Thanks! Been going back and forth between the computer and the phone. I’ll get everything on one device!
Hi Haejin! Thanks so much for our two coaching sessions in the past year. Very much appreciated and extremely helpful. Is it possible the most recent impulse could have an ending diagonal? I've posted an image for you to see. The chart is BTCKRW however is almost identical to BTCUSD.
It seems rather large, though could have a part in breaching both the wedge and the larger wedge trendline in one impulse. If so, very bullish.
https://www.tradingview.com/x/NmfhAMra/
https://steemit.com/news/@larfus/the-quantum-computers-are-coming-is-this-bitcoins-end-part-1
Thanks for the updates; lets hope for a vigorous wave 3 to confirm sentiment
Tom Lee predicts a $ 91,000 by March 2020, based on past post-dips good luck for all traders and stockholders
https://steemit.com/bitcoin/@khaled4444/bitcoin-91000usd-in-a-2020
Coins mentioned in post:
Congratulations @haejin, this post is the seventh most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 51 and the total pending payments to posts in these categories was $2913.56. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 121.32 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
Thank you, as usual, for your charts and interpretations. They are very helpful in my routine or research and query in the land of Crypto. I'm excited about how the charts are looking right now, and still have a little concern about another little dip before some nice juicy gains! Keep up the hard work and sharing. -Respect.