Bitcoin (BTC) Evening Update: Price Could Explode Towards $13,884....Here is why in this analysis!
)
SUMMARY
I almost fell off my chair when I discerned this Bullish Ascending Right Triangle! It's just beautiful! Minimum target run is $13,884. An ascending right triangle is composed of a horizontal and a rising line (two white lines). The point at which these two lines intersect is called the Apex. I then draw a parallel line (blue) to the rising white line. Then a vertical line (blue dotted) is drawn up from the Apex until it meets the blue parallel line. That's the price point for minimum bull run of this bullish pattern! The below chart is using the Coinbase price feed.
It's key for volume to confirm the bullish ascending right triangle pattern. Notice below how volume decreases as price gets closer to the apex. This is classic and vintage volume confirmation of this type of pattern!
The below chart is using the Bitfinex price feed. Different pattern but same destination. We need a higher high. I've labeled white waves 1,2,3 and 4 as being complete. Wave 4 is actually an a,b,c,d,e triangle! A beaut! Now, we need price to bust higher and I believe it will and price should reach and well exceed $13,000. We could see some bullish excitement from here and overnight. More details in the video.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
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.**
KAAAABOOOOOM!!! Let's Go!!! Smash that Upvote Button if you believe in TA!
Just smashed it sir. Just following orders. Lol
GRS looking super bullish versus USD:
and BTC:
Too many bullish looking coins at the moment!
grs a coin that gets constant pump. Buy it when it low and sit on it. I mean it gets pumped every other week it seems.
no doubt..it's like standing in front of a buffet..what to choose and what to leave...drives me crazy
Same!
FOMO big time! 😀
BCH
on an even higher degree, that's what Haejin forecasted: $3200
really a very good post good luck always @haejin
@haejie, Thanks for the update.! May I ask why it's not a symmetrical triangle instead of a right ascending triangle? should the left of top horizontal white line touches peak price of $11470?
-- NEVER MIND, you answered it in the video. thanks.
Upvoted Master.
I am going to spread your teachings with my friends and social networks.
Have a good night.
THANK YOU!
Nice post! I upvoted and followed you. Can you check my last blog post about crypto: https://steemit.com/cryptocurrency/@cryptoizotx/crypto-market-sentiment-update-december-3-2017 ?
This is classic and vintage volume confirmation of this type of pattern!
Exactly!
Thanks for the great analysis as always haejin...cheers friend