Bitcoin (BTC) Morning Update: A Bull Flag Potential
SUMMARY
So, overnight price action for Bitcoin (BTC) has broken out of the blue and the yellow wedge patterns. Thus far, the breakout counts to five waves and currently, a minor correction is taking place. Most of today will likely be consumed in putting in some form of an abc or some other of the 36 possible combinations. Even with this breakout, there is probable scenario of seeing a lower low.
The below chart shows the bull flag potential with price traversing within downward pointing parallel lines. This is labeled as red abcde and almost all waves are near completed. The long term support could be touched once more or temporarily pierced to place the final E wave. Since C did not touch the lower support line, E is likely to do so and this would cause that lower low eventhough price broke out of the yellow and blue wedges. Let's see how the corrective price action plays out today.
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Can we get a list of the 36 corrective combos?
of course not, because most of the scenarios are bearish and Haejin only fools people by posting the bullish scenarios. Talk about misleading as fuck....
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A lower low is probable. I agree. The lack of movement in volume specially worries me. We might need to go slow on buying.
Nice post @haejin indeed of this post for every one Who are interested in cryptocurrency.
I definitely resteem this post
Thanks for sharing update @thabiggdogg
We can only hope eth follows.
Will do but needs to drop some more. Next week or so.
You've got to see this interesting and serious video about Ethereum and ICO's!
Bitcoin success 100%, good job
thanks for this post ... i quess is time to inveest
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i like it your post
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Don't rush yet into buying, a lower low is on the way
Yeah I also think we are not out of it yet. Still another low probable to lower $7Ks. Right now it's just fluctuating around $7800-$8000. I think maybe next week we can begin to expect a decisive price movement?
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Steady and extraordinary your post, thank you for sharing
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