Bitcoin (BTC) Mid-Day Update: Potential Breakout Target?

in bitcoin •  9 months ago

SUMMARY

IF price breached the upper white line of the wedge pattern, it could do so within the current retracement. The below chart shows the last two boxes at which the breakout can happen. Note the MASSIVE volume spike which is indicative of an approaching bottom. IF wave 5 is complete; more serious upside actions can be expected.

The width of the wedge triangle is used to measure an approximate breakout price distance. IF the breakout occurred at current rise; the target would be $17,195. The green vertical line which equals the widthe of the wedge at the widest point is placed on the estimated point of top line breach. IF price decides to decline to gain greater proximity to the Apex; the blue vertical line would represent an approximate breakout target.

Legal Disclaimer: 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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Thanks for the wedge measurement and target.

#Bitcoin Price Cycles

After a 1067-day bull market, a downdraft which is spot on previous bear markets in depth, retracement.

My old friends in the hedge fund space would love the Fibonacci 0.618 bounce.

If I were a betting man, I'd say we've seen the lows of this cycle

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What a noble response to the downvote. You upvoted yourself just enough to cancel it out. This is (kinda) how the system should work. Thanks for being cool, betting dude!

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Wahey I've had my first down votes for my previous comment even though it wasn't directly related to Haejins analysis, i feel honoured.

Moment of silence for the weak hands the sold the dip

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Yes! Many people thought that btc will sink back to $1000 this sensitive time.
The weak hands will watch how btc and other altocoins fly to the moon.
The patient dog eats the fattest bone.

Many Thanks All The Time. ^^

I think my hart can’t take a lower low anymore. I do still have cash to buy the lower low, but I have too much friends feeding me FUD. Even staying away from the news doesn’t work anymore. I senserely hope I’m not a fool hanging on, to a dream that won’t come true. Not even because of money, but because I don’t want to hear them say ‘I told you so ‘. I’m listening to your calm voice instead. I will withstand the pain of the correction. And I repeat your words as a mantra : Also this correction shall pass, also this correction shall pass.

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Of course , you should! the more you study about this cryptocurrency space, the less you get afraid.
Go search more reports on this new tech and stay calm with full confidence.

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Why do you say these condescending words?. I read it all, but the fundamentals are irrelevant at the moment, and only emotions are in play.

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Dude, All i just wanna tell you is that everything will be okay in the long term way. So please don't be afraid and stay calm buddy.

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Ok thanks, I took it the wrong way. I’m calm, ok maybe not all the time, but I will certainly hodl.
And thanks for reading by posts and replying, really appreciate it!

BUY an HOLD to dieIMG_20180202_143615_250.jpg

You have a lot of posts and I haven't gone through it all, but do you do similar things with steemit currencies?

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Yes, he covers many cryptocurrencies. He has posted about STEEM several times in the past.

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Cool. Thanks. I'll just have to search and take a look.

I believe a second inverse head and shoulders is in the making. First one was from 6k to 7.5..now we are heading to 9k,when reach there after the current retracement, it will complete the second one. Hope it will be confirmed with price and off we go to 12 to 14k which fits to master @haejin's target.

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i see it too. i hope it does that

Its a very informative post sir.I always follow you since i joined steemit.I like your analysis method.It is quite helpful for the crypto related people.I can say to all of your follower that they can rely on your analysis.@upvoted

@haejin, the blog post proved to be very useful to me as i had a major investment in bitcoin bfor now. Thanks and i would love similar posts like this one on your blog subsequently. Just upvoted the post

I always wonder when speculations will end. There are reasons why some Altcoins are way better than Bitcoin. So probably after the informations are getting to the "crowd" Bitcoins only reason to be this high is: Because other currencies are connected to him in a way of exchange. After a lot of coins are getting exchangeable with fiat's. In my Point of View the Bitcoin doesn't get this high anymore. But nevertheless I think we are years away of a good fiat infrastructure.

really very useful information thank you very much

$5 - $6k Bitcoin Please!

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The bear mentality has got you...lol

Correct for target does not prevent obstacle

감사합니다. 긍정적이네요. 돌파만 된다면 기대됩니다.

wnice work dude
thanks for sharing...

Well, i think its gonna be down one more and could go up massively.

So if the price pass 9000 would be a good time to buy?

Song from the perspective of god, something haejin thinks he is!

he'll breach straight around $9000, let's be positive... I believe! :)

thank....for your infomations

this good information, i like it..
thanx

Thanks mate!!

Are we now dealing with a new trend line bringing us to a new closer apex?

BTC.png

I have traced this way, it is similar to yours. I would like to know what do you think? Thanks. https://steemit.com/bitcoin/@abeslowhand/analisis-btc

Thanks, can we do one for NEO, it seems like it's forming a H&S

Does this not contradict your previous video where you spoke about another H&S fractal and another lower low. I'm confused. 2 videos in the same day that put price and trend at complete opposites of each other.

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They are possibilities. Don’t follow Haejin expecting him to show you the right path, he is here for guidance. It’s your responsibility to make your own decision and not blindly follow someone who just posts possibilities. I Love Haejin but he makes these to keep you aware of the possibilities, not to tell you what moves to make.

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@bitshareboy That is exactly the right approach to take. Anyone using Haejin's guidance needs to be prepared to put in a lot of time learning. The prices that he posts are based off of Fibonacci ratios, and can change if the waves don't develop as they were developing at the time of posting. It's about probable outcomes.

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I appreciate that but there is no mention of the previous video here which can make it misleading. If he is showing an alternative path\count then saying so would be useful. I appreciate his work too but this video can be very misleading. To the apex we go.

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Do you have a crystal ball?:)

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Haejin considers different probabilities in his posts...he tells you what to look out for if different scenarios occur. This way you can be aware of the probable outcomes for different events...If you're confused watch back Haejin'd analysis few months back...he is very consistent in his approach.

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Watch the 2 videos in question you may catch my drift so to speak. I know he is usually very consistent and have followed him for a couple of months now. Just my observation.

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For longtime followers like me, this is apparent but for those who are newer, I think there is value in pointing this out now and again.

THanks for your updates.

Can you mark up Electroneum (ETN)?

I've been tracking the waves, they are looking very very good.

I seriously hope so.

Looks like the wave's going to hit 9,000.

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i would love too, but i am patient so i wait it rise ;) would love to see BTC finally going up again, didnt changed its behavior in dips: going deep and recover fast, hard to buy the dip without sitting on the pc all day or having some buy orders placed! finally all my buy orders got filled... was maybe too much of the good xD

BIG THANKS to @haejin for recovering my rep, was really tired of getting downvoted from the botarmy, thanks @all who flag the bots and re-upvote hidden comments! made my day ;) beautiful day to all of you!