Bitcoin (BTC) Morning Update: Regular Flat (3,3,5) Correction
)
SUMMARY
Overnight Bitcoin (BTC) price action was uneventful...boring. Meanwhile, I still see plenty of panic stricken headless chickens as well as doom and gloom pumpers calling for sub $4,000 prices to be the next target. I disagree!
The below chart is my original count where I had the wave 2 in progress. However, in reviewing the corrective pattern, the Regular Flat count would be better applied.
I've therefore updated my Elliott Waves to reflect an a,b,c (3,3,5) regular flat as shown in below chart. If this is correct, then wave 5 of c would mean one more lower low to complete the a,b,c correction. As the impulse waves 1,2,3,4,5 show; this update simply means a slightly different pathway but still the same destination....UP!
NOTE: If this blog gets downvoted; @ranchorelaxo has our backs!!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
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.**
Either way, I win. I've divested a portion of my position out of crypto and into precious metal (silver).
Crypto goes up, Yahoo, I buy more silver.
Crypto goes down, Yahoo, I've cashed out a portion on top and I come out ahead.
Great read on market
Happy new year @haejin, thank you for everything you have done for us!
BTS...Bitshares might be about to breakout!
Not bad!
The bitcoin is very rippling. Some say it will be $ 30,000 soon. :) I want to believe but can it be?
Happy new year :)
Never miss one of Haejin's remarkable Analysis
https://steemit.com/elliotwaves/@libertyranger/steemit-new-blog-post-sms-messaging-for-haejin-crypto-annalist-post -- Sign up today
With instant SMS Notifications you will never miss a post from @Haejin, the master of the Elliot Wave theory.
Be the first one to the Crypto Exchange to place your buy orders by being the first one to read Haejin's Analysis.
GOOD MORNING ! That sounds good !
Absolutely :)
Could you please do an update on Omisego?
broke out of the trendline, ATH's dead ahead!
I had some extra time; This is only my point of view. Your decisions are your own. It could be like this;
Trend is up but small correction up ahead. Submicrowaves can be wrong, I only look at it 12 hours chart perspective
You can't say that it was a symmetrical triangle because for it to be a symmetrical triangle, the bars need to touch the upper trendline and the bottom trendline twice. The bottom trendline is only touched once.
It would be better labeled as just a consolidation.
Let’s hope this happens need to see this go back up a decent amount.
How does @ranchorelaxo have our backs? And where can I contact him to have my back?
I think he means Rancho will upvote the post if Bernie and hiss bots play their tricks here so we don't need to expose ourselves. Many of us got hugely downgraded when this thing began.
Now it seems to be under control.
So thanks @ranchorelaxo and @haejin!
For crypto news , technical analysis , I followed you.