Bitcoin (BTC) Morning Update: MACD is SOOO Bullish Looking!
SUMMARY
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Bitcoin (BTC) has completed the correction which was requisite from the first impulse sequence (white). It was a fractal of the first wedge (blue) as can be seen by the breakout style. The second impulse sequence is in progress and the fact that price is moving impulsivly is a very good sign.
From a higher degree of trend perspective, the purple waves outline the bigger moves to come. In effect, the first white impulse sequence was subwaves to purple 1. The just finised abc are subwaves to purple 2. So, IF purple 3 is in progress; then the yellow waves are the subwaves....so, it's got much more to go up.
The longer term chart still shows that the upper white trendline of the bull flag needs to be breached. IF the purple wave sequence persists, as shown in the above chart, the breach of the bull flag pattern could be done with ease.
And the near daily chart view shows still what could be a MASSIVE bull setup...the MACD. It's SOO close to the apex and is SOO constrained by the contracting blue lines...an explosion is the only release and I believe that explosion is leaning heavily to the upside!
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SOOOO BULLISH!!!!
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Honest question. Before the big spike in Nov, Dec. The MACD didn't look like it was contracting and stuck between a wedge, yet there was a huge bull run. Why wasn't it significant then, and it is now? Thank you for your posts, and the time you put into this
Usually when the MACD is forming a triangle, it is during corrections where the price bounces back and forth. During strong up trends, the MACD is moving up along with the price and doesn't need nor will form a wedge.
Although a triangle could indicate explosive actions, not all big price moves have to come after a triangle.
Awesome! That makes perfect sense. Your point is also further supported by the fact that so many alts have had that contracting MACD (and they've also been in correction mode for a while). Doesn't have to have a contracting MACD to have a bull run...it's just a good sign that something is about to change.
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It also looks like BTC is completing an inverse head-and-shoulders pattern. Coupled with the MACD, it looks like a VERY massive bull setup.
You are very correct,
There are soo many airdrops projects going on
I think we will start going up from here!
Thank you for sharing, because this is very useful for us-we can add the science found from this post.
@haejin Is there a possibility to obtain TA updates without Bitcoin Live? I am not interested in the Bitcoin Live team of analysts, only interested in TA from @haejin. What do you think of annual @haejin membership? Is it possible to buy your TA on request?
It's one subscription for all analyst access. Sorry, it can't be carved.
Is private still possible?
Yes it is. Please use my https://cryptocurrencytrends.info/
to get in touch with me.
@haejin first joined the shortlist weeks ago, tried twice again since then. still no mail in my inbox. would be nice if I could get some confirmation whether I am listed or not. (will disclose my mailadress via pm if needed) Thanks! Top notch analysis btw.
Please go to my site: https://cryptocurrencytrends.info/
There send me a message with your email address and I'll make sure your slot is saved.
Thanks buddy