Bitcoin (BTC) Mid-Day Update: A New Fractal Could be in Progress

in #bitcoin4 years ago (edited)

SUMMARY

When Bitcoin (BTC) hit $5,900 bottom, price had surged with montstrous daily volume. This surge can be seen inside the purple box as Fractal #1. Following the surge, Bitcoin made three smaller peaks before declining towards the lower line of the channel. The price inside the blue box could be a potential Fractal #2 with price about to form the second and third peaks. The third peak could mark the top of wave 3 and the subsequent decline towards the lower line mark wave 4.

To further consider and have in full awareness is the below pattern. The upper white line connects the first two declining peaks. Price rising to $12k level would represent a crucial unction. IF this pattern plays out, the final wave E could define a lower low. We would need an ipulsive natured set of actionary waves that decisively breaches the upper white line. However, with the coincidence of the larger Head & Shoulders occuring at this level as well; the breach might not occur without first a minor pullback.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It shoud not be considered financial or investment advice of any kind. One should consult with a financil or investment professional to determine what may be best for your individual needs. Plain English: 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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Elliott Wave Counting Tutorial #1
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BTC/USD

Sarcasm? It seems to me there are lots of lines... :-)

Positive gains over the last week. Nice

Thank you for this update. That's an interesting take. My primary is kind of similar, meaning a new lower low.

What do you think about this count? 3-3-5 correction with expected resistance at $12300 and then down to around $4000.

Screen Shot 2018-02-16 at 22.14.59.png

It's a possibility for sure, volume and sentiment seems pretty intense for a "b" wave at the moment, I feel like it'll smash through all the upcoming resistance ; but we don't go by feelings now do we.

I've been waiting for 4k since weeks now, much better than another month of choppiness.

So what you're telling me is Haejin needs more tips? Say no more!

Keep it up, BTC, keep it up!

Thx again ! Keep it up!

This post is very informative.. Continue the good work

Haejin. I have noticed you rarely do popular alts other than bitcoin. Eth, neo and ltc are very rare on your blog. Anyway to get consistent follow ups on those? I feel there are a lot of pump and dump coins I see on your blogs nothing wrong with that but I think it would help a lot of users to have set rythem around popular alts. No?

Good work,keep it up.

thanks sir

I hope lightning is to be released before we hit 12k

I had intentions of buying, i think this post is informative enough for me!

Nice review. Thank you. I'm undecided about what to do in light of the possible big correction to point E.

thanks for the update news of btc dear
actually i am your big follower so that is resteemit by me
carry on your activity

that looks a little scary. i hope we surpass that key junction decisively.

¡buen informador economista lo felicito!

Great insight. Thanks Haejin.

Great analysis once again. We keep an eye on the big drop!

thanks for the info!

Thanks for the update!

Pure genius! I learn something new with each post! Thank you:)

Excelente post, Soy nueva en la comunidad espero contar son tu apoyo, Siempre estaré apoyándote gracias... Éxito

Excelente post, Soy nueva en la comunidad espero contar son tu apoyo, Siempre estaré apoyándote gracias... Éxito

Is there anyone to whom Haejin's tips are helping? No offense, I'm just asking, if it is worth following. I like rather fundamental analysis, technical analysis is not my cup of tea.

Technical Analysis more often than not, has the fundamentals priced into it, so if you learn to read a chart technically, you can read the sentiment of the financial instrument. Check out @cryptobroye and some of the trading strategies we use and how we analyse for profits. You can learn how fundamentals are put forward to the charts :)

thank you @haejin
please teach more than this

I have a recommendation for you if you're the short-term investor. If you know me you know that this is a rare situation. Generally, I give you only long-term tips. These days I guess you're happy that your crypto investments have partially recovered. So this is a great opportunity to make quick profits. I’ve sold 50% of LTC, IOTA, and DATA and I’ll buy it again in upcoming days. I recommend you the same! For more: http://promisingcoins.com/hot-tips/159/ or https://steemit.com/ltc/@mmaarrttiinn11/crypto-market-have-rebounded

As long as bitcoin is rising, none of the alt-coins will fall big numbers. Sell now an buy a few days later is absolutely back to front imo.
Not saying you're full wrong, but I think it's the wrong timeframe.

Edit: spelling

I think this guy is another spammer. He made this exact same comment on the last BTC update. We keep knocking them down but they just keep coming. At least the whole asiahajranajma/salahuddin2004 thing seems to be over. A lot of us made a big stink about that on salahuddin2004's blog in the last few weeks. Maybe it's time to do the same here.

I used to write meaningful blog posts but it's not so funny if nobody reads it. Steemit is pretty tough for newcomers and I'm trying various ways to get some followers :-)

Please don’t.
Because you’re not going to get followers in this way. You’ll only lose your rep.

What would you recommend?

There is a feature called "Promote"
Try that first. Then, get creative. This is spamming.

No worries, I've stopped, thanks for your recommendation :-)

Haejin said “do not advertise your blog here. Will get downvoted.”

But I asked you something else...never mind, have a nice day.

I think BTC won't reach 20k this year...the price of BTC will fluctuate around 10k, I guess.

Maybe around 12k, it's difficult to estimate. But the point is, the price will not grow but fluctuate.

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