Bitcoin (BTC) Morning Update: A Needle & a Thread
SUMMARY
Bitcoin (BTC) has broken down from the upward pointing wedge and since price had be quite proximal to the apex, it is not surprising. I had introduced this in yesterday's updates. Microcounts thus far show the blue ABC in progress with the red waves of blue C currently finishing wave 3 with 4 and 5 remaining. A likely piercing of the long term support line is expected. There are times when multiple bull wick events are made around a support lline which are weaved around like a needle and a thread. The video has more details!
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Am I the only one who sees more quality comments in here?
Just curious - where those spammers disappeared?
My view point remains the same...no real buyer until $6000. Also, buyers need to take out the sell orders at $8000 and $8500 before price goes higher.
I agree this time we will go down to 6000$
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It fits well into the W bottom.
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WE are missing a very important scenario here - which is ABC correction
As shown below - B has retraced 38% exactly by book. Now Wave C will be an impulse or diagonal. if it's an impulse we are looking at now micro wave 5 of 5 of C. if this is true, a lower low (less than FEB 5 - $5900) is coming because by rule C always ends beyond A. Please share your opinion-
I’d be surprised on a lower low as MACD would have to dip hard.
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In the first place, it don't matter actually , if you're a long term investor it's always a good news to you, and if you're a short term investor it's a bad news for you.
The head and shoulders pattern was also very noticeable.
I'm surprised nobody talk about it.
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A bit too inclined.
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This is a support connecting the two 2017 later correction bottoms:
Well refined lines.
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This is the BEST bitcoin analisys (check it out): http://cryptosrocket.com/btc/2018/03/29/lets-see-the-big-picture-and-whats-next
Perfect counter indicator, once this guy turns bearish, BUY!
Como estas amigo @haejin? Gracias por la informacion, un abrazo en la distancia
here my vote friend. excellent post. Greetings from Venezuela. God bless you. success