Bitcoin (BTC) Morning Update: Upper Line of Wedge Breached!!!
SUMMARY
Overnight price action has managed to breach the upper line of the wedge! The key now is for price sustain itself above that level and use it as support. Prior resistance zones that get breached become new supports. However, should price decline back into the wedge; there is a potential for a bearish wick formation. Still, that monster daily volume from the prior bottom bull wick was massive! BTC now has the first round of impulse (blue) and is not on its way to complete the second (white i,ii,iii,iv,v). I've raised the white wave iii to reflect 2.618 of wave 1 length. That should bring it to around $9,250 or so. Should the second round of impulse complete; we should be able to call the bottom.
This alternate count shows a shallow finish for the second round of impulse. If so, then the resulting abc will likely use the upper wedge line as support.
Legal Disclaimer: 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.
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Thank you for this Analysis 👍
Haejin TA vs This TA look difference. Haejin you also look this TA to learn something and copy.
Bitcoin Road to 20,000
https://steemit.com/bitcoin/@salahuddin2004/bitcoin-update-08-02-2017
I still flag spam.
How can you still be doing this after how horrendously this douchebag's challenge went last week? It's one thing to be wrong, but he was spectacularly wrong with maximum confidence. He said he was "200% sure" that BTC would not drop below $8500. Later that day it was at $7500. I did not come back to gloat even when saladshooter did not admit how wrong he was (to be fair, he didn't have to. everyone already knows) but if you keep this up I'll be sure to come remind everyone on a daily basis how poorly that went, and how little saladshooter knows compared to what he thinks he knows. Just stop.
It's up Btother relax
Actualy is more likely to stop at 15k go back to 3k and then go to 60k sooooo yeah.....
We hope so. 😂
Salahuddin has no idea what he is talking about. Most of his BTC predictions failed hrad.
@adambenko don't be fool.We all know on 1 or 2 TA some analysts are wrong.Haejin bull wick bear wick zigzag turning bullish dump and pump etc.Will go up and down.Haejin did 102 TA for bitcoin all failed.First he using only elliot waves now he understand people knew that he don't know anymore about TA.Now haejin trying to draw more lines and copying from other peoples.Other analysts are much better than this crap.Haejin downvoted me because i spoke truth about him.
I am following three.All are best
@ewpatterns @salahuddin2004 and pencukla.
If you are new follower of haejin.See his reality first.
https://steemit.com/haejinality/@pawsdog/haejinality-vs-reality-nxt-review-79-loss-in-2018
Youre a third world country failure
Sorry, you're just too dense to understand @haejin's TA. You should go back to saladshooter's cult of personality. You are no longer welcome or wanted here.
@asiahajranajma. You being down voted. Great! You are sour, maybe lost a lot of money and even constipated! I am being very civilized with you!
LOL nice
la sigh... still no lambo yet?
Good job! Lol
Haejin TA vs This TA look difference. Haejin you also look this TA to learn something and copy.
Bitcoin Road to 20,000
https://steemit.com/bitcoin/@salahuddin2004/bitcoin-update-08-02-2017
@adambenko don't be fool.We all know on 1 or 2 TA some analysts are wrong.Haejin bull wick bear wick zigzag turning bullish dump and pump etc.Will go up and down.Haejin did 102 TA for bitcoin all failed.First he using only elliot waves now he understand people knew that he don't know anymore about TA.Now haejin trying to draw more lines and copying from other peoples.Other analysts are much better than this crap.Haejin downvoted me because i spoke truth about him.
I am following three.All are best
@ewpatterns @salahuddin2004 and pencukla.
If you are new follower of haejin.See his reality first.
https://steemit.com/haejinality/@pawsdog/haejinality-vs-reality-nxt-review-79-loss-in-2018
None of these TAs, Haejin above all have been very accurate in their predictions in last 2 months. Haejin just uses hype language like “orgasmic lunges” to suck newbies in
Nice! It's been a tough road lately, would be nice to see some green haha
I always amazed to see your observation and analysis.Whenever i see your post i started to match with the current scenario,most of the time i found you right.Now crypto market is coming back i think,bitcoin is now crossed 8k mark,now that's a good sign.I always follow your post to learn some useful lesson.Any body can take your advice and i can assure him that he or she will not be a looser.Thank's for such informative post.@upvoted
Thanks for the awesome analysis again Haejin. Come on BTC keep above that line and get moving upwards.
positive signs.
@haejin, for the life of me I cannot seem to draw the triangle to match yours. I've tried bitstamp, bitfinex, gdax, and all are showing price squarely in the middle of the triangle when the top line touches the tops of the B and D waves. I also keep having the apex come up 8 - 10 days sooner than yours. Are you doing something you're not telling us about here? Thanks
I think it is just the short time support. I've drawn the support lines as follows. I always look on Bittrex, but included also a Bitstamp chart. Personally I think the bottom is not in yet, because some alt coins need a lower low and would have to stop being in sync with BTC. For example XVG/USDT failed to produce a valid count for an impulse and creeps along the upper support line.
July and Sept corrections has BTC turn up first while Alts were sideways or still putting in newer lows.
Thanks for your reply. I was not aware of that. I did not check out the former corrections yet, but will have a look. For now I only trade alt coins, so this is something to keep in mind.
Btw: Your post on your portfolio made me overthink my strategy. I will try to adapt by diversifying more into main coins, which gives me buying power for BTC or ETH pairs. If BTC drops one more time I'll change now, if not after the first alt impulses.
Not at all. I use Bitstamp; daily or 4 our chart.
Many many thanks for you
again thanks for sharing
Yes, THANK YOU Haejin. So many here complain when you are doing everyone a service. It's not often enough we say THANK YOU. Your TA is always appreciated and respected.
I wonder if binance being down woth maintenence for 16 hours (one of the biggest exchanges in the world) will hurt this attempt to burst out of the wedge? I guess this chart is for bitstamp but Binance being down at such a crucial time can not be helping our chances right?
Didnt know you could buy straight from fiat on binance?
Captain gazua~~