Bitcoin (BTC) Morning Update: This Wedge Has Breached
Bitcoin's (BTC) overnight price action has completed and confirmed the symmetrical wedge fractal as shown in beow chart.
Using the first fractal's subsequent price action, the below pathway could be approximated for the second fractal:
The fractals can also be presented as bull flag pairs. While exact patterning might be different, the destination is often shared.
The larger pattern still remains the Inverted Head & Shoulders pattern. The Neck Line remains at $12,000 and this is the zone that price needs to breach to complete & confirm the bullish pattern.
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i like Bitcoin (BTC) Morning . thanks for sharing post
haejin TA is like this pile of poo!!
Hello Haejin. New here so trying to understand. This downtrand from 11.8K is it an ABC which you think it has completed or ABC and now we are on B? the latter case is seeing here (copy the idea from
ew-and-patterns ) . thank you
This is my read too. It's a wave 2 that should retrace to about 50% or 61.8%
wave 4 of A can't more high than 1.
haejin TA is like this pile of poo!!
The last resistance point is now at the 10,000 level. Basically a magnet for price. Any stall in price may see it fall to this level, before being bought up heavily. This would be the ideal situation for an upmove...a failure to move below the 10,000 level is very significant.
I guess the $10k is widely seen as an important psychological level. However, the recent dip below it could have provided the low point for the Right Shoulder pattern.
haejin TA is like this pile of poo!!
up vote and resteem..
Hi @haejin! I've made a comparison of bitcoin performance between 2014./2015. and 2018. Can you please, as a pro TA, give me your opinion about this scenario? I see that BTC is potentially forming a reverse H&S pattern, but could it be a bull trap? Thanks!
The time frame is not the same, but market is moving much faster now..
I recall the 15 month bear market quite well. Back the, Bitcoin’s liquidity maturity was much less than current. I believe this feature is a strong determinant to how long the Hurry Up & Wait effect of impulse to correction cycle takes. Given that BTC is far more mature today than 2014; I believe the correction won’t be extended to 15 months.
Thanks!
haejin TA is like this pile of poo!!
spam and not cool.
Heajin
I have a question.
I think the accuracy since January is about 5 %.
Why did this happen?
Show me your ability!
his trades haven't even played out, don't read the timelines they are not meant to be accurate but look at over all trend. BTW these patterns can change on a dime you need to do your own research and understand why something moved one way as opposed to another. Stop asking people for predictions and learn, go do his tutorial.
haejin TA is like this pile of poo!!
Hello Haejin, nice post. What do you think about this analysis?: https://steemit.com/bitcoin/@ilcapo1/cryptocurrency-market-analysis-in-depth
I think we have to be prepare for it
haejin TA is like this pile of poo!!
I follow the analysis above. It makes sense. But aren't we in a downward ABC correction? Don't we still need the downward C wave to play out? Thank you!
I think it's actually an ABCDE correction
haejin TA is like this pile of poo!!
Haejin, why no more youtube posts???
haejin TA is like this pile of poo!!
Haejin + CryptosRocket = WIN!! >> http://cryptosrocket.com/btc/2018/02/23/target-13000
haejin TA is like this pile of poo!!
