Bitcoin (BTC) Morning Update: A Healthy Correction is Approaching
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SUMMARY
Overnight price action for Bitcoin (BTC) showed a bit of plateau and so the Elliott Waves have been updated to reflected a purple wave 4. The purple waves are the sub waves of blue wave 4 as you can see in the next chart.
This chart shows how the updated waves fit into an unchanged target.
Once and when white wave iii is complete, which wave is next? White wave iv and this means a healthy correction is approaching. Unfortunately, this will also be the point where the innocent and the idiots will panic and sell out.
Bitcoin Cash (BCH) could be workingon a wave 2 as shown by the purple waves. This means wave 3 is next.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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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.**
I’m an innocent fool, but I’ll listen to Haejin and hold on.
@haejin, are you going to ladder out with your bitshares as well? 🤔
No
is Bitshares in wave 3 or 4? I want to get in but I think its top of wave 3. I might get in in wave # 4 or wave # 2 in the overall elliot pattern.
Correction would be healthy!!
It'll come, don't worry.
THANKS FOR EVERYTHING MY FRIEND
Now I will not panic after reading your analysis, really happy to find you here.
Please consider my turotorial videos at end of each blog post. They will help with emotions.
This is what Haejin has taught me most to be patient and not allow the negative emotion of fear to effect my decisions.....Its not easy sometimes but Im learning!
I took some profit from my position in GBTC with humble gratitude; thank you lama haejin. 🙏
That's what it's all about! Making Money and making Friends!
Did you ladder out?
Yes! To the best of my ability..so much to learn but feeling much more confident thanks to your tutelage. Peace to you and yours.
Bitcoin is the leader in crypto. I always believed in bitcoin and will. Hope one day bitcoin will bring me a lambo.
When and if Bitcoin goes to $3.6 Mil, you'll have a dozen!
Imagine how many you could feed, just for fun.
Ive been wondering, since most altcoins (atleast the ones i have) are following the trend of BTC again, would it be smart to sell them for USDT and buy back when the correction of BTC is done?
Please tell me if im missing out on something.
I already sold some profit coins at last peak and bougth BCH for it hoping BCH will go up when BTC and alts go down, but im not sure it will rigth now. Since Haejin projected BCH up i thougth it would be a good move.
Thx!
I would steer clear of USDT as there is a lot of speculation that it’s a con. Many articles on here and elsewhere about it.
thank you i will!
Buying bitUSD on the bitshares decentralized exchange is another option.
thank you! I learn so much everyday :-)
By the way ...thank's a lot again for the update Haejin!
just watched the video....you mention altcoins also, the migth go downwards with the correction.
Im using the ladder technique that i learned from you, all i wonder now is, how to park my profits from the last 2 days!
how to park them? fiat / usdt
Excellent Haejin!! Thank you for update on BCH! Blessings
Thanks!
hurrrrrrrrrraaaaay, seems like steem steeming has started
I wish you MASSIVE profits!