Bitcoin (BTC) Morning Update: Fractal #3 is Spotted!! Check out the this chart!
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SUMMARY
Bitcoin (BTC) overnight price action seems to be completing a third fractal bull flag as shown below. Note the similarity to prior two flags. So, if Fractal #3 is about 2.5x the size of the second fractal; then we can potentially measure the price rise by extending Fractal #2s rise by 2.5. The chart below shows that with the green vertical lines. Not surprisingly, that coincides pretty well with the $20,467 level and I think if that's correct, it'll be an awesome event! I have to say that Cryptos are truly showing price patterns that are the truest reflection of sentiment. Unlike the stock market where excessive manipulations can bend or stretch the waves; not so in cryptos. No PPT or banks here to front run the everyday investors!
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
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Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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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.**
Haejin your years of study and practise is paying off, true semtiment is being showed. You really will go down in the history books like Edwards and Magee.
Them two men lived in a time where true sentiment was shown, now you can see first hand that the masters where spot on.
Imagine a chat with them men, cryptos would be a joy to behold for them.
God bless you my dear friend. You are a master. I wish you, family and friends, success happiness and health.
If you make me a millionaire, i will have to meet you in person, to personally thank you, its that simple.
His insights are much appreciated. I definitely make it a point to look for his posts daily!
@haejin is a TA CGI...think about that!
Thanks for you insight on BTC's future. I don't believe it's got much more room to run, but I appreciate your research and reading of the charts!
It's hard to imagine BTC going higher, but who'd have ever thought it would get this far!
Upvoted and resteemed. Thanks Haejin.
I totally agree that looks to be the next high, very soon
agree agree agree agree!!!!!!!!!
hAEJIN you LEGEND.
hey haejin, made a steem account finally to be able to support you with votes and resteems, bought 30 steem as well and transferred them to steem power. :) thank you so much! take all the votes you can hodl!
very interesting post, thank you.
will be interesting to see if your prediction is as accurate as always.
I don't anticipate price moving the way that you do in this post..
I expect a rotation lower to the 4x1 Gann support unless price starts moving upwards past the 8x1 Gann resistance very soon
How about other coins like LBC, DOGE, VERGE, MANA, RIPPLE holding on to it in this case or better sell it for BTC before the rising? i would sell it, i should sold it 2 days ago, what is safest now? still got btc profit, not much like 2 days ago but still good. Sell for BTC?! Thanks @haejin
take at easy :)
HODL!
maybe i am to stupid, i dont get why ;) when the price of btc is rising, i guess there are some people just buying back into bitcoin what makes alt coins suffer. after btc finished his rising, they will start take profit into altcoins, so they will rise and btc will drop a little.
so wouldnt it be good to be in btc at the rise, when it reaches 20.000 or more, buy back the holding positions of the alts and make a nice amount in alts? where is the risk? i got just like 2 month experience in cryptos so i still needto learn a lot!
earlier this has been the case indeed. what you now see more and more is that at least some of the alts are actually breaking out of this phasic cycle.
I wouldnt recommend to drain all your alts but rather to adjust your portfolio ratio which you might (and should) have defined (10-20% btc and so on). These adjustemts / redistributions should be done monthly
ah ok, thanks, now i understand more what haejin means with altcoins going nonphasic. so i will keep my stock as it is. maybe just reducing positions like Ripple. i got my portfolio splitted in a trade and a long term hodl portfolio, so the longtherm i dont change anything, the short term is just for trading where i try to make btc profit, was at 30% increase until it dropped again yesterday.... i was thinking about selling all for btc and take btc profit, than get back into new positions after rise, scared of losses, guess this are the panic emotions i should keep away, so i will watch a movie, smoke and sleep ;) thanks
I completely agree. Please consider holding some coins that will be around in 5 years. You will do extraordinarily well holding. Then do some trading with additional funds.
Good advice. Thanks. I already put part of my alts back to BTC. Made some stop loss orders on others. I remember what BTC rally did in December. Now I feel better prepared.
Thanks again!
good advice thanks for the advice
@haejin
The posts you write are very useful for steemit users and bitcoin owners