Bitcoin (BTC) Morning Update: Volume Doesn't Confirm Head & Shoulders
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SUMMARY
Note: The Haters and Downvoters are trying to kill six day old blogs to kill all credit! How sneaky!!
Bitcoin (BTC) overnight price action shows a corrective pathway that seems to have completed wave 3 of C or close to it. Following blue wave 3, wave 4 should be next with a bounce. One aspect that has nagged me is that the Head & Shoulders is not confirmed by volume. The volume of the Head should be highest but it's lowest as shown below. So, technically, it's not a H&S Top.
I've updated my Elliott Wave corrective count to show an Expanded A,B,C correction. Observe how three wavish the red A and B waves seem. These are labeled with their subwaves in white a,b,c. Note also how red wave B is higher than the start of A; this is the sign of an expanded flat and cryptos love this pattern. That means, from red B wave down would be C wave and it has five subwaves which are shown in blue. Therefore, this is now my primary count.
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?
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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.**
Hello Haejin_CryptoAnalyst
How do I get a program to study the expectations of the chart as explained in the video?
Haejin does daily lessons, has tutorials listed at the bottom of each of his posts, and also offers 1 on 1 coaching sessions. The books he recommends are also listed at the bottom of each post. Thanks for Your Support!
Hello @scarlet7
Thank you for the information, Deserve all respect and appreciation, And further development in the world of steemit.
Shame!
@haejin brings harm to the Steem community by flooding the Trending page with useless content.
@haejin considered most harmful person to Steem ecosystem these days. We have free community, but small means censoring scammers like @haejin. The only effective thing we can do is to leave message, right here - at the top!
This is my personal opinion and I can express it, because I am using the free platform called Steem. You can downvote this message, but it will cost you Steem Power and, as a profit seeker, you will earn NOTHING.
Head and Shoulders Above the Competition Sits One User.....and that User Shall become INVERTED HEAD AND SHOULDERS!!! High to the Moon You Shall Go! There, the Largest Whale in All the Galaxy Shall Greet You! Like the Mighty Atlas, You Shall Bear This Great Weight! For Unlike the World, The Whale Shall Not Roll Off Your Shoulders Should You Try to Shrug and Walk Away!
couldn't we just not upvote this guy? then he won't make any money, sorry I'm new to steem
Just a little Christmas Tree correction. It'll be back like Schwarzenegger!
@haejin going in rocket speed to reach 7k followers! Hurrayyy....
Thanks for your great analysis bro.. you are superhero for us:)
You should send @berniesanders a big thank you. You've been Meme-ified!
Nice move! I tip my hat to you sir. Well played.
Bitcoin will be at $50,000 in a few weeks.
How
Through additional market manipulation by Big Money, which is now in the game. I'm not sure about $50K.... but back to $20K really soon? Yep.
Nice analysis mate!
Well know soon enough if this is a short correction or the beginning of a downward trend that might last a while. Buckle down the hatches and be happy that you own steem and you can use it to do something for you rather than holding other coins that do nothing really!
I am Hodling Steem , BTS and Vechain .
Forget Hodling....I'm adding BTS and XRP.
check out vechain too .
Thank you Bitcoin Lord. You have blessed me again. I shall spread my seed among all the women of these "Low T" goldbugz. They can't do the job, obviously.
I see a lot of people getting freaked out right now...haejin has been very clear to maybe take some profits on the way up so you have dry powder to buy on the major dips....think about this guys...the NYSE just submitted a request to form a Bitcoin ETF including Proshares...The investors at the CME and CBOE are salivating right now and will pick up these coins undoubtingly , even if we go to $4000 or $2000...the mad rush into the market by HUGE investors hasn't even begun...this is an opportunity of a lifetime. Don't let this fool you into thinking it's dead...hope you guys are doing well and BTFD stay deversified....thanks for the great TA haejin as always
There's also corroborative from other professional sources that LAND IS IN SIGHT and in any case this dip is NOT as deep as the earlier two this year, compare. So the entire doomsday panic is myopic, can you guys please man up (?) and stop cucking.
Bitland expects all its virtual subjects to do their duty !
It seems linke everytime I read your blog posts, I learn something new. Thank you Haejin.
(edit:spelling)
Just bought 2 @ $11,500. Happy man here
It’s a “fire sale” just like years ago when BTC dropped from $900 to $200 and we just kept buying