Bitcoin (BTC) Evening Update: A Correction Towards $7,200 or so Before Resuming UP!
SUMMARY
First, you don't want to miss this video, especially the last 1/3 where I introduce the BIG Picture Elliott Waves and price discernment on a much longer term and scale.
The chart below has updated Elliott Waves. The white wave iii could be in and thus the correction now ensues. HOwever, to better visualize, a zoom out is needed.
Teh below 1hr chart shows how the current correction could retrace to $7,200 or so before rising towards white wave (v).
Here is a longer term chart that ties in the Elliott Wave sub waves and the higher destinations:
The video takes through the analysis alot better with more details and scope. Also, I introduce the Big Picture Elliott Waves with much longer time horizons. You'll want to see this.
Please review these Tutorials on Laddering! and Buy/Sell Setups!
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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.**
I look forward to being the village idiot in a rising tide. My primary matched yours with the exception of a 1.618 c wave to 7088.85. Not too shabby. Might I further request some more instruction on Fibonacci Levels so we may better see through your eyes. My gratitude will always be more massive than my profits.
It looks like you made a steemer out of me.
Will do!
BTW, you get a 30 min Technical Analysis individual consult with me as High Value Upvoter. Please let me know your Skype ID.
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https://steemit.com/bitcoin/@haejin/weekly-five-highest-upvoters-to-receive-consult-analysis-time-with-haejin
@haejin I might be wrong but I saw that the wave count is getting wrong somewhere in the one day chart because wave (iii) seems to be the shortest this way as wave (i) was around 3200 long and you have extended wave (v).
is it still valid your prediction that bitcoin will drop to 2000?
Yes, but not yet. The bull run isn't done yet.
is it possible that bitcoin segwit2x or BCH will just replace bitcoin? thereby still following the elliot waves but instead of bringing down the alts with them, will simply be replaced by a new leader
Possible? Yes but not Probable.
BUT, possible is NOT the same as Probable.
Haejin is the Bruce lee of crypto. !!
Lol
LOL
BTW, make a post on your blog!
Wow so cool. !!! I guess I will do a introduce myself post then. Haha!!
Thanks hyung. !!!
Hello,
You mentioned you would look at the retracement of BCH from $400 to $525s.. why is it not correcting but increasing?
Thanks Haejin. Your early presentation of the big picture is extremely interesting. Can you share your thoughts on how the altcoins might react to this big picture of bitcoin. Thanks
Bitcoin is the moon that moves the tides of the cryptosphere and all altcoins swim in the cryposphere ocean.
The only coin that might go inverse is Bitshares.
@haejin, many thanks for enlightening us. What is your views on Power Ledger?
I don't use one. Paper Wallets, AirBitz, and local wallets.
Would be nice to see the explanation on why you think so.
@haejin Does you most recent NEO update still stand? Are we on wave 1 of larger wave 3?
YAY a BTC update!
This era must be a hell of a lot of fun for you. So much BTC action with the ALTs ready to rumble soon as well. How do you sleep?
Like a baby!
Lol
i don`t ... :))
Damn long gone are big corrections. It seems that big correction isn't coming anytime soon. lol
A BIG one is coming. Once this geyser parabolic run completes.
beautiful! thx a lot @haejin