Bitc(BTC) Morning Update: Tree Count vs Forest Count
SUMMARY
The TREE COUNT for Shorter Term Traders:
The Inverted H&S pattern is still progressing. However, given and detailed in the other night's critical junction alert post, the status has not changed. So, it would behoove an analyst to keep an eye out for indications of price rolling over.
The larger picture perspective shows that price has been initially repelled by the upper purple trend line. This adds to the critical juncture status. IF price goes below $9,500 or so; a lower low potential on a daily scale is to be expected. However, BTC is not yet there so, keeping calm and serene is key; especially if you've got cash at hand to buy.
The channel needs to stay intact:
The Forest Count for Long Term Investors has not changed in that since the genesis of BTC, a primary degree wave 1 has completed and the "tree" counts are only showing that maybe wave 2 is still in progress. At this "bigger" picture or larger degree of trend, what matter does that make? None! For longer term investors, this kind of price movement as shown above is like a fish out of the water and has little bearing. For "Traders", yes, the short term tree count has utility.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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
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Tutorial on the use of Fibonacci & Elliott Waves
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Update BitShares?
Yeah I’m a little worried BitShares is doing an ABCDE, it’s been going down hard
Yes I would like to see an update on Bitshares. I think this is a golden opportunity. I do not sell but I buy more.
This is my point of view. Your decisions are your own. It could be like this;
Bitshares are more scared than BTC.
It’s starting to look like that. It might have gone out of the triangle a little but it looks like it wanting to go back in
Wow 5c would be a major correction ! I just don't get why Bitshares is so undervalued ! If China/Russia get their way and the PetroDollar is dethroned as the global currency in favour of a gold backed or PetroYuan volume on Bitshares will explode
Bitshares aint going anywhere until Bitcoin rises. Hold tight for another few weeks.
This is a text book correction of wave 1. Retracement is expected to be 50% or 61.8%.
This correlate with the 0.5 Fibonnacci, + H&S pattern + Horizontal Support and Resistance level and will allow for the RSI to reset for Wave 3 impulse.
I don't understand these assholes that downvote? Why? How does that benefit anyone? If you don't like a post then don't watch/read it? Why do they have to ruin it for people that like the post? It's rude and I think it's a flaw in seem in my opinion. Steem has to fix this. Why is there even a downvote option?
Enormously provoking.😡
down votes causing a very high caliber analysis of bitcoin to be hidden.
What can we do about this?!
its like dating...
you can give your money and attention to and you get some flirting but mostly wait for her to get ready... And I do not have that much patience :(((
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Whoaaa got a new red flag CONGRATS!
cant see images and it took me 2 tries to get to blog...
Hey @haejin I miss your videos :(
@haejin thx a lot! do not let the negativity get to you!
it's sad people do not have anything else to do than downvote and flag out of jealousy, much respect for you to keep your head up in such an environment!
if you would leave steemit, please let your real followers know where we can find you back...! ofcourse leaving steemit is just like letting these bastards win because that's what they want...
Agreed. It was flagged for all of about 15 minutes then it was upvoted enough to be visible. What I don't think the flaggers realise. Followers of @Haejin go straight to his page to read the updates so flagging is stupid. But dumb is as dumb does