Bitcoin (BTC) Mid-Day Update: Lower Low Towards $7,638 Likely to Complete B wave of ABC

in #bitcoin4 years ago

SUMMARY

Bitcoin (BTC) was not able to decisively breach the upper yellow line of the downward wedge which is currently representing the red B of the ABC of blue D. The yellow wedge pattern is likely to trigger a lower low towards $7,638 or so and that would be a more ideal position to breakout from as it would be much more proximal to the Apex. Blue wave 5 has be started and remains the last subwave of red B.

On a larger picture, not much has changed. Price is still moving well within the contracting lines of the large symmetrical triangle. IF price declines further, it's clear that the lower support line must hold against any decisive breaches.

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 should not be considered financial or investment advice of any kind. One should consult with a financial 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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Could the argument be made that we already broke down, as a total cap (referencing your earlier post)?

BTC time to scale up lot of positive things is happening but not reflecting in its price

Always look forward to your posts after I look at it myself. I’d like to get your opinion on the Dow if you would do a post, as we had just broken down last week and appears to be testing support at 23,500.

Very good question. Guys that disagree on it, be aware that a lot of statements are being made right now that we are at the front of THE UPMOST BIGGEST COLLAPSE OF THE WORLDECONOMY!

If this is true, 2008 was a walk in the park compared to the coming one.

A recession most probably. A collapse - not yet. Financial collapses usually occur when nobody expects them and there is plenty of euphoria...like bitcoin in December last year :) Too many people expect a collapse right now..have been expecting it since 2008. On the other hand I agree that it is worth it keeping an eye on the world economy, the trade wars, and especially the unstable EU banks.

Dude you must be a shaft sock if you think Haejin talks about stocks. Have you been living in a cave?

YOUR'RE A FUCKING MORON!!!! HE DOES CRYPTO!!!

I thought Haejin was a girl!! It's a Korean girl's name! And IF it IS a guy, then why in the hell does he/she have a girl's pseudonym? Korean girlfriend?

how you getting paid off this trolling lmao get a life

What a cock smoker!!! Have you ever fucking seen @Haejin talk about The Stock Market???
You must be dumber than a rock!

What kind of fucking cum guzzler turd licker ass maggot question is that? Did you notice EVERY POST IS ABOUT CRYPTO?

language, what if your mother hears that foul mouth :P

bullshit is bullshit why respond to it, humm why am i here :D

you Provided an important information...i like this post...

it's called eliot waves. Young market(crypto) therefore lots of emotions(stupidity and fear and greed) therefore the patterns are stronger, therefore eliot waves, 3 up then long correction then again ... market cycles ...

My analysis shows Bitcoin is heading down... If things don't turn around (and soon), we are going to see a real bear and what it is capable of.

love the post

resteemed

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so you are claiming bitcoin will be in the 8200-8800 range because eliot waves...

you sure it's not just april fools, I'm thinking it's a bear market and it will go down probably for around a month or so, then it might spring back up again. but that is just weather forecasts, so yeah think of it like that :D

be creative, be adaptable.....
excellent post !! Congratulations

also cheers on your 40$ upvote, you certainly went a long way here, last I checked you I watched an interesting video about banks and crypto :) and I can't say I'm a fan after how you handled your fame, even before that you were quite distant and not caring.

sorry to sour the cheer :) I don't think you mind tho,

Steem on :P

Decisive breaches are few and far between at the moment. Lucky I'm not a day trader :-D

Top Infos 👍👍👍

Trolls: learn how to trade so you can buy yourself a life... preferably elsewhere.

Ignore the hype, trust the chart... XLM work!

It's only meant for use as informative or entertainment purposes.

@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.

oh you are counting :D now that you mention it it's only two paragraphs, but seriously don't waste your time, do something that matters, maybe it helps, not sure it's helpful for you tho

want professional forecasting...see @Yankee-statman. enough said.

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