Bitcoin (BTC) Morning Update: Alternate Counts
SUMMARY
Bitcoin (BTC) could be ready to rise as shown by the below chart. The MACD is curling upwards and the white 12 day line is converging with the red 26 day line. A buy signal is likely! Per yesterday's alternation post, this would play well.
My primary count is still as shown below with the wedge formation; but if price breaches the upper blue line of the triangle and the MACD lines cross, a buy signal is likely.
Bitcoin could end up simply moving more sideways..but that's a bit unlike BTC. It doesn't have the Hurry Up & Wait syndrome as badly as the Altcoins who fester in the slow mode and thus often lag BTC in the correction turns.
This chart is my top alternate count. The red ABC marks the correction pathway and isn't that much diffeernt from the descending wedge primary count. The subwaves of the red A wave could be complete with the red B wave now in progress. A price rise from here would help complete the blue abc subwaves of the red B wave. Once that is complete, the red C wave would have five subwaves (white) down towards $6,000 or so. I've added additional landing zones in blue horizontals. So, careful counting of subwaves would be required to determine the degree this alternate count can become primary.
Legal Disclaimer: 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
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It seems BTC just wants to stay in a range. Don't see it moving in either direction.
Big fundamental catalysts on tap for further Bitcoin adoption in 2018 as well. Exponential upside as user base increases, so seemingly an attractive risk/reward profile over the course of this year:
https://steemit.com/bitcoin/@ultrablockchain/bitcoin-s-roadmap-to-mainstream-adoption-in-2018
Nice chart and data!
Nice charting. Keep up the good work and keep on posting. Let’s go BTC!
I'm still going for the primary as well...let's see what today brings...much love!!!
Bitcoin is king of the crypto currency, he will always be the first!;)
At least for one more year
inb4 is gets flipped by an alt this year
LOL not a chance. In my view an alt will still need a network/hashrate as large as bitcoin. BCH can steal it all directly and it still can't even take XRP over. Get real!
absolutely!!
Still waiting for it to rise
If you want to get rich in 2018 with cryptocurrency its simple
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Yeah bro
haejin change 38 TA for bitcoin in last 3 days.haejin dont know how to deal with market now.In bullish market he call for buy but now situation is out of his control and also they will hide your this comment because you cant speak truth. @salahuddin2004 give a one TA on buy bitcoin at 10k and eos at $9.He is really genius.In next few days haejin will change TA of eos and everything.To be honest @salahuddin2004 and others experts is much better than haejin.
the one who speak truth about haejin fail TA.They hide this comment.Atleast give us answer.Haejin have few accounts ,from them he downvote you.wait and see.
I understand people care for steemit atmosphere, but since the content is genuine and informative, why we should be concerned? I liked the analysis, it's technically helpful
i am good in TA than haejin.Let me ask i tell you whats next move?
Bubble or No Bubble, What you guys think? https://steemit.com/bitcoin/@investingtips/this-is-the-real-bubble-not-cryptocurrency
Do you ever get bored of doing so much TA every day?
I've had enough of waiting, time to hurry up already!!!
hah hah hah.. amazing and true
Not for long, Bitcoin has high fees, slow transactions, it doesn't fit at all in the micropayments world and the PoW mining algorithm consumes a lot of energy, contributes to global warming while only makes it more centralized. I don't see any furture in Bitcoin, but I may be just wrong :)
Interesting to read/hear about your alternation.
And thank you for your support on my daily overview. That was highly appreciated - it was like I was given the ultimate accolade!
I wish you MASSIVE profits!
The alternate count seems most lovely
Down to 6000 we go
Are u talking about altcoin
we will see only time will tell