Bitcoin (BTC) Morning Update: The W Cycles

in bitcoin •  2 years ago  (edited)

SUMMARY

Note: Video has much more details not captured in this summary.

Cycles are either phasic (in sync) or non-phasic (out of sync). Bitcoin (BTC) price cycles are mostly dominant at the 20 week and the 40 week terms. The below chart shows the peak and the trough cycles and the sub-cycles the compose the larger ones. I primarily utilize Hurst cycles.

I believe Bitcoin (BTC) could be displaying a W shaped cycle bottoming process. The white arrow below shows that the bottom of the first trough was at around the $5,900 price area and the second has already occurred at $7,290 or is about to occur. I beleive it's already occurred. Therefore, if this is correct, higher highs are due in early April.

The alternate to the primary white W cycle is the blue as shown in below chart. Note how the white touches first yellow line long term support. The blue touches the second yellow line support. To the uninformed and unaware, the blue line represents despair but to the informed and the aware, it represents a phenomenal ladder entry opportunity. How you see it makes all the difference as a trader/investor.

Whether the white or the blue pathway....it matters none. They both work in parallel. This is what I mean when often I say that there are multiple paths but same destination. Einstein stated that the past, present and future all occurred in a single instant at the same time. The white and blue represents a parallel event. Again, more details in the video and shorter term overnight price action analysis will be posted in a little while...but first, digest this one.

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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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Going to read more on Hurst

Make sure you downvote all of @Haejin's scammy post!!!

Screenshot (85)_LI.jpg


Hgin You should stop your SCAMS NOW!!!

https://steemit.com/stewardsofgondor/@iknowwhoyouare/i-haven-t-gone-away-and-continue-my-efforts


It's only meant for use as informative or entertainment purposes.

Haejin You do not provide any entertainment. I brought you some.

@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.


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Hey dogggg you are a looser in a league of champions, good luck to your miserable life 🤺

No, the truth is you don't know the difference anymore between a lie and fact.

Haejin is a champion you are a doggg big difference 🧐

You think this is about winning and losing? That's pathetic! Only a dense, obtuse sociopath would do so.

What’s it about mr envy dogg?

I can smell the fear!

Nice use of wave theory on this one @haejin ... Destination shall remain the same for some time with BTC...UP!!!

  ·  2 years ago (edited)

Similarly in music; when rhythms that are beating at different time signatures meet up occasionally - it's called a polyrhythm.

Here'a [XVG/$] - [BTC/$]
They're normally perfectly matching but there was some variation this morning.


Untitled.png

Interesting. Can you elaborate?

@haejin, How would you express a Hurst W cycle in Elliot Wave terms?

I'm ready for BTC to breakout.

I don’t daytrade. The only secret to making $1 Mil by day trading is to start with $2 Mil.

Can you please behave like an adult , it’s not nice to read bad words , thankyou

YOU, sociopath are afraid of getting more exposed! I can smell the fear!

WTF is wrong with you?

The price of Bitcoin makes a lot of double bottoms. Usually if the more recent bottom is lower, the price goes down. I'm hoping that the current short-wavelength pattern is a triple bottom. (3/15 then 3/18 then now). If this bottom is higher than 3/18, the price should go up. The 3/21 peak wasn't high enough to overtake the 3/12 peak so we need this extra bottom for the price to go up (prices above $8600 give me hope).

I always referred to the triangle patterns as "guitar strings". The price will go way up, then way down, then half-way up, then half-way down, "vibrate" and then settle. Usually Bitcoin breaks out towards the end of the "settling". When the stock market index does a "guitar string", it usually signals low volume and the market goes lower at the end.

I'm concerned about the volume right now. During the most recent rally, low volume meant the price of Bitcoin went up. During the crash, low volume meant the price of Bitcoin was going down. Now (low volume), I think people are waiting to see what will happen.

It will be interesting to see if infrastructure will be able to support the bull run. Remember how exchanges stopped accepting new users in December-January. If we'll see a major bull run again it will attract many new investors, and we will need them to support the bull run. I hope exchanges have mostly completed their scalability upgrades and are ready for the next uptrend.

Could take 4 more month, but yes this is a really important point !!!!!!!!

this analysis is worth a try. I hope it will be successful and exciting

The Truth. Truth always is and never isn’t.

thanks. the truth is tentative

This chart has been working pretty well since a week or so, so far..

btc.jpg

  ·  2 years ago Reveal Comment

good bitcoin money post thank for shearing

Nice post..the pictures you post are very beautiful, success always..you are great.

Now I am only worried about SBD price.If the bitcoin price goes up then all other price will also go up.Thanks for your analysis, now I am feeling a bit relieved. I always try to follow your post @haejin sir.

Hence the reason to maintain 15% of portfolio as cash to deploy.

Hi @haejin

Is there any precautionary measures one can implement in the approach to predict the price to account for bigger corporations manipulating the price?

This video explains how they do it with Gold & Silver and I can't help but think if we don't consider it we are on the back foot. I crypto it will be much worse because this market is so volatile.

They are already manipulating it, how do you think BTC could reach 20k then go back to 6k ?
Stick to good TA, it gives awareness no matter what.

This great information I appreciate your bitcoin thanks for sharing this crytocurrency news best of luck...

I appreciate it. As an analyst, I need to call it as I see em.

hmm, nice analysis, lets see what will happend

nice :D as always haeji :)

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin8922.320$2.81%11.71%
EOSEOS6.933$-1.61%43.95%
QAUQuantum0.139$1.29%-1.38%
WAVESWaves4.915$4.57%4.16%

Thank you for providing us with such useful information.

good

https://steemit.com/btc/@albeezeelee/morning-update-3-23-18-look-at-that-timing-of-calling-the-tops-and-bottoms

Interesting...check out this analysis, if followed you could have called the tops and bottoms pretty easy.

a good analysis makes African-American activist motivation increases, this storm we hope will soon recover, thanks a lot

Good analysis. Please come to my blog and read my opinion. Let's think about various possibilities..
https://steemit.com/bitcoin/@goyapro/bitcoin-btc-update-trapped-in-a-ema-box-the-way-to-the-next-stage

Thanks for sharing cryptocurrency update providing news

I appreciate it. As an analyst, I need to call it as I see em.

Congratulations @haejin, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 59 and the total pending payments to posts in these categories was $2866.56. To see the full list of highest paid posts across all accounts categories, click here.

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Demand at $8400 is holding currently, but we need to take out the sellers at $8600 and $9000 (yellow circle) if price is going to go higher.