Bitcoin (BTC) Evening Update: Bullish Piercing of Support Line!
SUMMARY
Bitcoin (BTC) looks to have pierced the support line and got right back inside! This is called a bullish piercing. It's the way Bitcoin gets rid of weak hands, the uninformed, the ones who shoot from the hips, the ones who buy/sell only on gut feeling and never ladder. We, however, expected this bullish piercing as a probable scenario. We also took precautionary stops at levels below $5,000. These stops should be maintained.
The chart shows a forward discernment for the Elliott Waves. We should start seeing an impulse of five waves (white circled, 1,2,3,,4,5). These should take price out and above the upper white resistance line. These white five waves also become subwaves to blue wave (i) The remainder of blue waves are also placed to ultimately hit $7,200 or so.
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BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
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LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66
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 guess @haejin is reading the charts. It makes no sense to me why BTC is so expensive, and if I owned it right now, I would be afraid to go to sleep :) so I stay out and put my money into coins I have a bit of faith in :) and enjoy @haejin's tew-leaf (technical EW) readings :)
I agree it’s unclear the direction of future movement but what are you basing the statement that bitcoin is expensive on? Previous price? I am also concerned but if you think btc will drop considerably, most Alts are likely to drop further. A loss of confidence in crypto will be needed for a significant drop in bitcoin (such as Haejin is predicting) and that will destroy many Alts. If you think bitcoin will drop, stat in cash (fiat) not Alts.
Yes, @grizgal, they do seem to be tied together. But I guess the smoke might clear one day and altcoins stand a bit more independent, based on the technology they offer? I'm not a big fan of coins as currency. I like the idea of the blockchain technology and its applications. But I can see a use for P2P payments, too, without the middle step.
Btc will be unstoppable till 2018, it will be around $10000 within few months.
Based on? I await the next fork on november 16th. But that's FA off course, an event that will justify the forecast
It will be unstopable... it is the direction what I doubt. Watch all the TAs on Bitcoin.
Could you share any details of analysis?
I believe Bitcoin could be $7,200 to $9,000 per the analysis posted.
I was waiting BTC to go below 5200 but I'm buying now, looks it is resistent to fall further
My analysis shows now is probably not best time to take new buying actions, but rather sell actions.
I know, but I have my money frozen since long at the exchange...thanks @haejin
And altcoins should rise, too according to your older posts?
i suspect it won't everyone will still be in BTC for segwit2x. it's sad, coz i'm in altcoins right now all red.
I know, they have been red for many weeks...think of selling at loss and buying BTC.
same here. also easier to get out of the market if it suddenly crashes
Thanks for the post and very nice
It actually rebounded from around 5400, which was a value you called some time ago... or so say my notes at least.
Thank you!
Hi @haejin, TRIG Token (TRIG) has taken a great jump today, could we look at doing a count on this one if you get a chance. Do you think we can get back to $2 if so, can you help with how we count the next waves to $2 please.
Thank you :)
Hey Haejin, thank you for your help with the analysis... But since the price has just loitered near the support line don't you think there is a high chance for a rebound as you suggested? If yes then buying wouldn't be so bad right? Until the higher high at least i mean..
Rebound likely, yes. Buy at your own risk.
vot back me
steemit is a place to build a great community with individual contributions and get rewarded in the process. There are tens of thousands of people who write multiple 100+ word comments and at times even 500+ words and you are here begging for votes like some stray dog to make few bucks.
Keep your garbage to Facebook, Twitter, SNAP, Instagram and other garbage silicon valley cultural Marxist shills. steemit was made because there are people who needed a break from that garbage. Don't ruin this community. Get lost. Stick to Fakebook.
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And I bet she's not even sexy... may not be she at all xD
sexymaria got schooled