Bitcoin (BTC) Mid-Day Update: Primary & Alternate & Education
SUMMARY
This morning, I shared the below projection saying that the ABC (red) correction was the probable course. Price has now breached the lower blue line of the upward pointing wedge!
On a closeup; the ABC looks like a ZigZag (5,3,5). Note the subwaves of A (blue 1,2,3,4,5) and now the subwaves of red C looks to have started (yellow). I've laid out the yellow 1,2,3,4,5 down towards completing the red C wave for white wave 4. Pretty cool!
IF this is correct, then a sizable downward wedge could be seen through forward discerning:
What's my alternate? It's below. The ABCDE pattern of a triangle. Remember, awareness is key!
Education: Paul Tudor Jones was an Elliottician! He used Elliott Waves to amass $4.5 Billion! Here is a documentary made in 1989 or so. If you're old enough like myself, seeing the IBM compatible computers and hair styles and dot matrix printers are quite nostalgic! However, this documentary teaches you about fractals or analogs which PTJ used. Enjoy!
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.
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
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thanks for your perspect of prirce of bitcoin, Can I get yours of QTUM as well? :D
Wonder what Tudor started with!
$1.5 Mil
crazy! do you personally think these markets are better then stocks in terms of potential?
looking at stocks and regular investment options it seems that Cryptos may be a higher chance of getting to 4.5 billion. they move faster right?
Thanks Haejin. I love the random Elliot wave facts LOL. Keep doing what you're doing!
I enjoyed the documentary on PTJ very much. Then I Googled him and read some other articles etc. He recently addressed Godman Sachs employees and painted a dark picture of the current stock market and compared it to a bubble. He recommended people put their money in cash, commodities and 'hard assets.' These predictions are contrary to your recent bullish reviews of the S&P 500 Index and several stocks. Are you aware of these recommendations by PTJ, and do you agree with them, If so, how do you explain what your TA is showing about bullish indexes and stocks? I would be interested to hear. Thanks.
HAEJIN & RANCHO LIVE STREAM ANALysis
I have written an article on BTC history and how it can impact it's future. Link is below - but we must be cautious as a lower low may be coming after this current upward run which is nothing but B of ABC ZigZAG. as @Haejin brought a number $16k or so. it's indeed a calculated number. Sub wave a of B went from 5900 to $11800 a gain of $5900. the WAVE B is flat type so it's sub-wave c can be 165% of sub-wave a which is 1.65X$5900=$9778 so C can get up to 16K. but after sub-wave c completes we looking a major major C wave that can take BTC to 2k-$2500 range.
https://steemit.com/bitcoin/@dkalita123/are-we-done-with-correction-bitcoin-history-and-how-it-could-impact-it-s-future
If it comes to fruition, it’ll be a nice relaxing summer while everyone panics. Time to make some hard earned dollars to add into it during those months
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Quite nostalgic indeed ;)
Learned so much.
Will repay if the opportunity presents itself!
In the meantime be around for a long long time.
C60
H2 water
spooky2
Preserve and clean.
https://www.youtube.com/user/kjohnson1701/videos
Thank you sir
I always read good posting
thanks.
Please let me know if there is a coin you'd like me to analyze.
Dimcoin lol
If you’re new to cryptocurrencies, this kind of volatility can be dizzying (and painful if you invest at the wrong time), but if you take a closer look it starts to make sense. Here’s why Bitcoin’s price keeps changing so drastically, and why it may get more stable in the future.
First, individual owners have less power over the price of Bitcoin, and, second, it creates stability since more people have a stake in the cryptocurrency. The other possibility is that government regulation could help stabilize Bitcoin. In the short term, that could cause its value to drop drastically (like what happened in China and South Korea), but in the future it could help calm down speculation and drive out the types of sketchy Bitcoin-related business that threaten to drag down the entire concept of cryptocurrencies.
thanks this is my opinion on this valueable update post