Bitcoin (BTC) Mid-Day Update: Lower Low Towards $7,638 Likely to Complete B wave of ABC
SUMMARY
Bitcoin (BTC) was not able to decisively breach the upper yellow line of the downward wedge which is currently representing the red B of the ABC of blue D. The yellow wedge pattern is likely to trigger a lower low towards $7,638 or so and that would be a more ideal position to breakout from as it would be much more proximal to the Apex. Blue wave 5 has be started and remains the last subwave of red B.
On a larger picture, not much has changed. Price is still moving well within the contracting lines of the large symmetrical triangle. IF price declines further, it's clear that the lower support line must hold against any decisive breaches.
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Could the argument be made that we already broke down, as a total cap (referencing your earlier post)?
no
BTC time to scale up lot of positive things is happening but not reflecting in its price
Always look forward to your posts after I look at it myself. I’d like to get your opinion on the Dow if you would do a post, as we had just broken down last week and appears to be testing support at 23,500.
Very good question. Guys that disagree on it, be aware that a lot of statements are being made right now that we are at the front of THE UPMOST BIGGEST COLLAPSE OF THE WORLDECONOMY!
If this is true, 2008 was a walk in the park compared to the coming one.
A recession most probably. A collapse - not yet. Financial collapses usually occur when nobody expects them and there is plenty of euphoria...like bitcoin in December last year :) Too many people expect a collapse right now..have been expecting it since 2008. On the other hand I agree that it is worth it keeping an eye on the world economy, the trade wars, and especially the unstable EU banks.
Dude you must be a shaft sock if you think Haejin talks about stocks. Have you been living in a cave?
YOUR'RE A FUCKING MORON!!!! HE DOES CRYPTO!!!
I thought Haejin was a girl!! It's a Korean girl's name! And IF it IS a guy, then why in the hell does he/she have a girl's pseudonym? Korean girlfriend?
how you getting paid off this trolling lmao get a life
LOL!
LOL
What a cock smoker!!! Have you ever fucking seen @Haejin talk about The Stock Market???
You must be dumber than a rock!
What kind of fucking cum guzzler turd licker ass maggot question is that? Did you notice EVERY POST IS ABOUT CRYPTO?
language, what if your mother hears that foul mouth :P
bullshit is bullshit why respond to it, humm why am i here :D
you Provided an important information...i like this post...
it's called eliot waves. Young market(crypto) therefore lots of emotions(stupidity and fear and greed) therefore the patterns are stronger, therefore eliot waves, 3 up then long correction then again ... market cycles ...
My analysis shows Bitcoin is heading down... If things don't turn around (and soon), we are going to see a real bear and what it is capable of.
love the post
resteemed
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so you are claiming bitcoin will be in the 8200-8800 range because eliot waves...
you sure it's not just april fools, I'm thinking it's a bear market and it will go down probably for around a month or so, then it might spring back up again. but that is just weather forecasts, so yeah think of it like that :D
What do you think about this analysis?
