Bitcoin (BTC) Mid-Day Update: Short Term Target $7,200 per Elliott Waves & Symmetrical Triangle...Find out the details in this blog!
SUMMARY
Bitcoin (BTC) is currently putting in a symmetrical triangle (yellow lines) for blue circled wave 4. I've also labeled the sub waves (purple) of blue circled wave 3. This means most likely that blue circled wave 5 is next for UP! We could see >$7,100 or so.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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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 - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
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.**
Thx for the update, your video from earlier on seems to be broken by the way.
Works now. SLoooow Hotel Wifi for youtube uploads
I hear you, I spend most of my time abroad atm and suffer with perpetually bad wifi and so called 4G.
As for the bit at the end of the video, you have the right approach, don't feed the trolls
Thanks @haejin it's long term tho the one we should be worried with the current btc / bch war.. do you think TA can predict it, pumps and dumbs in few minuts are scary :/
Elliott Waves states that news or events shall arrive to justify the forecast. To that end, Elliott Waves really just identifies as many probabilities and narrows them down to a handfule of probabilities from which a primary and a secondary are selected.
Can it predict the pumps and dumps? Well, it can provide the direction best and it that comes with a pump or a dump...then it's inherent.
Please review this morning BTC update as that could answer much of your questions, especially the below with regards to rumors, wars, China, Roger Ver antics, etc:
I know the lesson @haejin because I follow you blindly.
And I know that the TA precisely detects the symptoms of a pump or dumb, however if I had the power to manipulate the purchases and sales as obviously this is happening, I would use the TA for these to indicate what suits me.
That's why I understand that lately in your TA there are up to 3 or 4 different scenarios, which I think is great since in the end it is a warning to "be careful"
There are ALWAYS many scenarios. It's all about trying to find the most probable scenario over the many many possible scenarios. Please do not follow blindly. That is not the purpose of this blog. This blog is intended to teach you how to do this yourself. NOBODY is correct all the time (dont tell haejin that, haha) but really, not even haejin. And god forbid anything happens, but things do change, and if haejin were no longer here to guide you....you would just be blind.
@haejin is an IA and will allways be here!!! hahaha
when i say "follow blindy" it's a way to say that he brings me closer to the side of the light (TA) and not to the dark one (rumor/news) ;)
It is obvios that it's me the one ording my buys or sells, HOWEVER I WISH IT WAS @haejin loool
You got it!
I wish you MASSIVE profits!
Thank you Haejin. I was able to purchase an extra full bitcoin yesterday. Didn't get it at the bottom but very close to it. So many people in forums saying how BTC was dead but I watch and listen very closely to your TA. Very much appreciated work and I hope your San Diego trip is successful. I too live in Massachusetts and would love to be seeing Palm Trees on this cold fall day.
Did you ladder in? Please consider viewing the tutorial video on how to ladder in. Video is linked at bottom of blog.
Yes, I laddered in. Thank you for your wisdom.
Excellent job! And thank you for being so positive, there is much to learn here!
Wow cool post!
Hope to see you on my page too :)
Welcome and stick around! Much to learn here. Learn and earn!
For those interested, the BCash cabal will soon pump again - they're launching a PR campaign suggesting that Bitcoin has been "infiltrated by the Globalists" and that buying BCash is fighting for freedom... they're paying conspiracy channels to spread the fake "news", and people directly involved in the pump and dump like Jeff Burwick, actually smurkingly feature in the video
BCH is the people's coin. I did some math. 1MB block size increase is extra ~50GB a year. 2TB extrernal hard drive is $70. That's enough for 5 years. That's $14 a year. If you use a USB/Micro SD that's $20
People who oppose the Block size increase are just a bunch of egomaniacs who aren't willing to spend $14 a year so that the users can have 20 to 100+ times cheaper and faster transactions.
I'm not a BCH fanboy. I'm for Dash, NEM,PIVX. What I'm saying is that Bitcoin devs are bunch of egomaniacs funded by centralized entities instead of self funded treasury like Dash, PIVX, ZEN, BTS.
BTC community is a bunch of censoring haters who fight a civil war over $14 extra expense non-issue.
https://steemit.com/cryptocurrency/@vimukthi/bitcoin-fees-triple-under-a-week-while-dash-makes-itself-10-times-cheaper-my-discovery-of-a-secret-device-to-store-the-entire
i'm not too sure why the bitcoin legacy developers are against even such a tiny increase from 1mb to 2bm (segwit2x). it's so tiny and it probably won't make it vulnerable to attacks. i really don't know why. perhaps a compromise would have been the best
Luckily we don't need compromise. Block size increase is just changing the code that limit the block size. If everybody got along the increase (Eg:Dash) then even a noob could handle the increase. Since there was an entire civil war Roger Ver and team had to do a more complicated Hard Fork and then came BTG and unsuccessful 2X.
"probably won't make it vulnerable to attacks."
-I'm no expert but to my knowledge just changing the block size limit has Zero increased security risk. Can't say that about SegWit. Here is an old article from someone who seems to know the subject considerably well: https://steemit.com/bitcoin/@modprobe/i-looked-into-segwit-and-here-s-what-i-saw
Hope it helps.
May the governance coins win!
BCH showing signs of reversal now, might be worth keeping an eye for a couple hours to see if the trend holds.
PBC just recommended BCH to subscribers, prices should pump.
Reversal up or reversal down ?
We are at 6180 atm. Can't wait to see how this will play out.
6180? What feed is that coming from? I've got 6400 at Bittrex.
Poloniex at time of my reply.