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RE: BTC Morning Update: Head & Shoulders Spotted!!
So Haejin is saying in this that "the bottom is not yet reached." Where is he saying that? He appears to be saying going up up up. Or have I misinterpreted the video? I can see he has also added a bit of text on here with an descending triangle gong down after 14k. Is that where you're getting that he's saying the bottom is not yet reached? Would love your view on this as this analysis today has threw me and I'm confused as to whether he's being bullish or not, or saying there's on more lower low to go?
He's saying that when the price gets back up to 14k that is the pivotal junction to pay attention to. If it breaks then plan on a rise to 19k, hence the bullish sentiment. If it reverses back down then plan on 8k as the next critical juncture. It's about awareness of what price points to pay attention too and what it means more than likely if/when it is broken. The reading comprehension on here is severely lacking. Basically as a rule there will always be an A,B,C correction. It has at this moment completed that. If at 14k there's a reversal we will then know that it's an A,B,C,D,E correction. Some people appreciate the foresight of where to pay close attention to in order to risk manage.
I guess I get why so many newcomers are blaming his videos. He is NOT giving daytraders advices but giving a long term view. This is not good if you are blindly following and hoping that the next day his thoughts are going to materialize in charts.
Starting this video, he said at 0:17 that BTC is correcting (going down) and bounced to 11k...
In the video, starting from 16:30 and at 19:00 he says about both possibilities and $14k.