Bitcoin (BTC) Morning Update: A Minor Correction Approaches
SUMMARY
There is never a trend, either up or down, without a correction. For Bitcoin (BTC), I believe a minor correction approaches. The below chart shows the initial wedge that was drawn and presented the other day. Price had broken down below the lower blue line and it's common for it to be retouched from the underside.
The wedge has been redrawn and it encompasses all price levels. This shows that the wedge is still forming and not yet complete nor confirmed.
When labeled as abcde; the e wave still remains to be put in. If there is one more higher high, then price would be close to the Apex and more ripe for a minor correction.
Using Fib chart as guide, the red line arrow shows a probable abc pathway to around 0.5 to 0.618 zones.
The impulse pathway is the primary count where once wave 5 is complete, a correction will arrive. There is no escaping a retracement which is a requisite component of an Elliott Wave motive.
The Inverted H&S is still in progress. It shows a potential that should the wedge pattern pathway progress, the blue arrow could be the result.
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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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good information!
thank you for this explanation. I think the BTC will visit the point max (19000) before the down and this decrease does not go over 60 percent fibo.
Good analysis as always
Thanks for your work, @Haejin!
I am the true cryptogod!
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Increase from $1.76 to $2.27
#Haejin "I'll do my best. My bandwidth is about 10 requests per day."
#Steemit Translation: I'll do my best. I can only get paid for 10 self upvotes per day.
What is this on here for?
I think bitcoin will soon be carried away by some other crypto
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bitcoin up good
Mr Haejin sir,
Why did you downvote me HERE at 100%???
IF you disagree with anything I said in the post, why not comment?
My post is based in facts. 3-5% for one Steemian is not able to be supported by STEEM. It will break the system if just a handful of other Steemians do the same thing.
You are able to change your Posting behaviour, or even refuse Payout on a number of posts, in order to share the Rewards with everyone.....
If you disagree, please explain yourself? Why go around flagging any and every post that disagrees with you? That seems like your attempt at CENSORSHIP.
IF you disagree with my Post, please REPLY in the COMMENTS why you disagree. No need to go straight to flag!!
Makes sense, what goes up, must come down...
This is a very nice post, thanks for sharing!
Follow me, Resteem and Upvote my Posts @thunderland
Do you have bitcoin infos on your blog? I may beed a new place for my info.
Can you take a look at appc coin haejin?
It kept going lower than wave 1. Thankyou for regular btc updates.
Keep going bulls!