Bitcoin (BTC) Morning Update: Original Impulse Up was Never Invalidated
SUMMARY
Bitcoin (BTC) overnight price action has it so that price still remains above the upper blue line of the wedge pattern it broke out of. The blue waves show on version of an impulse motive up. For any trend reversal, the earliest sign of it is an full impulse motive and the blue waves are trying to show that pathway.
The other version is that the five blues are complete and there is a minor wxyxz sideways correction in progress before a second round of impulse is initiated. If so, this would be bullish.
The longer term picture of an abcde (blue) has it so that blue wave D could have been initiated.
The retracement was about 0.78 Fibonacci and note the white wave 1 and 2. That count has not been invalidated and this was discussed a couple weeks ago, before the minor correction of white wave 2 started. So, if white wave 2 is complete, which wave is next? Wave 3 and it's usually the most violent in its moves.
So, here again is the same longer term impulse count showing how the white waves 1 and 2 fit into the future potential targets and timeline. This would be made more likely IF price decides NOT to complete the longer term blue E wave in the symmetrical triangle and price decides to breakout at the blue D. Both are converging to a decision point and either way, it could be quite bullish.
Here is the daily MACD where the white 12 day indicator continues to curl upwards:
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What an awesome update. Your thoroughness is great.
If you take requests, any chance of checking out APP coins APPC?
Do you think it will go much lower? Thanks man.
UPVOTE THIS BEAST!
And again, no amount of fibonacci levels and Eliiott waves, will change the fact that BTC eventually will give you the middle finger. SO please folks, remember this picture and know that BTC could easily drop 1000's more..
Has done so a couple times before too so I'd not be scared if it drop a couple grands now soon.
price overlay 2013-14 VS 2017-18
Make sure you downvote all of @Haejin's scammy post!!!
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Hopefully it. An just break right through the giant wedge!
@blockchainbeta has an interesting article. About what is going to happen in a few days https://steemit.com/bitcoin/@blockchainbeta/bitcoin-hit-by-regulation-expect-massive-dump
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BITMEX XBT/USD Daily:
Coinbase BTC/USD Daily:
Bitfinex BTC/USD Daily:
Bitcoin currently still under daily falling trendline for all of the above exchanges, Coinbase of course looks like it should give us the most immediate signal for whether we will break it or not because price is right at the Coinbase falling trendline.
However, Bitmex has a lot more daily volume than any other exchange so should hold the most weight. If we close decisively above all of the above falling trend lines then we at least have that monkey of our back.
Bias: Bullish Short-Term, No idea Long-Term.
Things are getting exciting!
artık cıksında millet kazansın btc 19000$ olacak gıbı
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Hey my favourite crypto analyst you are truly genius.Now that's some very encouraging scenario.Most of the people were scared about what is going to happened but this will give them hope that every thing will be okay.Thank's for the post.@upvoted and resteemed
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Update BitShares and bigger picture?
Yes #haejin plz do bitshares short term and long term .
I try to understand that your analize your point of view will guide me. When many people panic because the dropping, you give a shine to make every body feel OK.
nice post and inspiring to know better
That'ts right