Bitcoin (BTC) Mid-Day Update: Two Patterns Point to Upside...which ones? Find out in this Blog!

haejin (88)in #bitcoin • 7 years ago

SUMMARY

Bitcoin (BTC) is clearly consolidating. The below chart pattern was also identified by @solisrex and it's an a,b,c,d,e and it's almost done and should bust out any moment to hit that wave iii target.

The below chart is another pattern to confirm the upward probable direction for Bitcoin and its a Head & Shoulders bottom. This too is near or already complete and upside price breach is expected.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf

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.**

#litecoin #cryptocurrency #blockchain #altcoin

7 years ago in #bitcoin by haejin (88)

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robinsonlx (32) 7 years ago

Could you also update GBTC? Thanks!

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2 votes

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scarlet7 (59) 7 years ago

I will get the request to him ASAP! Thanks for your patience and support!

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robinsonlx (32) 7 years ago

Thanks for your assistance!

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drew222 (25) 7 years ago

Hi Haejjin. First of all... Thank you so much for all the outstanding Tech Analyses you have shared with all of us. It's great of you to share your knowledge and expertise. In reply to your latest BTC post, I have the following question: What are your thoughts about the following pattern I discerned today - Screen Shot 2017-11-14 at 6.26.53 PM.png

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scarlet7 (59) 7 years ago

Your application of the bottom and top of the jaws are inconsistent, but the MACD confirms the upward trend that alligns with your top line.....landing at a similar number as haejin proposed here.

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robinsonlx (32) 7 years ago

Hey Haejin, is this also a cup & handle pattern with a,b,c,d,e correction completed?

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1 vote

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scarlet7 (59) 7 years ago

That's a big ole mug there! Looks more like a standard ABC correction to me, but it is showing cup and handle features......very steep handle though, it might be prudent to ladder all the way to the lower support line of the cup.

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