Bitcoin (BTC) Second Mid-Day Update: High Resolution Chart-Surgery of Bitcoin... See the Price Pathway I Discern!

in bitcoin •  2 years ago 

SUMMARY

Here is a quick Bitcoin (BTC) update using a higher resolution chart of Elliott Waves for what happened today and my price pathway discernment. It looks like BTC is putting in the final touches of an a,b,c,d,e triangle as circled wave ii. Once waves d and e are complete, I think circled white waves iii, iv and v could be next.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial
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 !](https://steemit.com/bitcoin/@haejin/n98sk-haejin-s-ta-book-recommendations-for-elliott-wave-and-chart-pattern-recognition 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:
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LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66


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.**

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thanks for the quick update. Most alt coins seem to be loving the fact that segwit2x is cancelled!

Non-Phasic stage to Bitcoin....Alts go up and Bitcoin takes a correction.

Steem may actually benefit from this as well. Don't you think this is precisely the kind of news that could justify the forecast? Sincere question here.

  ·  2 years ago (edited)

Let's see....I try not to cogitate on the possible news and events that could justify. Often I'm surprised as to what actually justifies it! For instance, for many, today's cancellation of fork was a shocker! So often, our monkey brains don't have enough immensity of site to perceive and discern to that level.

All in all, I got myself some more XVG... have a good day Haejin! :) thanks for your replies.

Good pick

Hard fork has been cancelled, fund seems like moving to altcoins & @haejin is predicting more correction, time to sell btc now? Your thoughts?

I'm not. Why? It's a minor correction to around $6,800 or so...maybe $6,500. Not exactly sure of bottom as no one is.

InDeeD.....If you have the patience you realize....eventually...every trade is winning trade ...no matter the volatility and or value.....but if you don't realize you could end up lost......it is inDeeD true you can win in life on every hand/bet/trade/ placed.......as long as you don't chase the embrace.......

Great Post/Blog
Thank You Kindly

I just research like a mad man on the fundamentals of a coin. Development team and community activity. Proposed marketing and competition. Buy the dips. And HODL. Use bts dex to short usd and hero. I have not yet to sell for cash since starting investing in crypto 5.5 yrs ago.
Chased whales when i First started and tried day trading. Lost a lot of money and wasted a lot of time. All I’m looking for are dips for an entry point. And HODL.

You got it!

I sold all my btc at 6200 for eos along time ago. I couldn’t handle all this volatility.

You mean volatility man handled you...:-)
TA would prevent that.

Haha. It’s all good.
Eos. Bts. Steem. Ltc. Dash. Zephyr
They are doing all well. When btc gets stabilized. I️ will just hold 1 btc. I’m in the altcoins. Quicker ROI.

lol

I heard you. High volatility can easily put one on edge. Hope we can learn over time to become more calm. @haejin TA is really helping me to tame my emotion on trading. Thanks to him!

you the man @Haejin !!!!!!!!!!!!

It seems BTC broke the triangle upward. Is it a bullish sign?

I'll updaet later tonight.
Do you have the book, Elliott Wave Principles?

Yes, It just arrived yesterday and i’ll try to crack it. :)

Thanks for bitcoin update..

I wish you MASSIVE profits!

  ·  2 years ago (edited)

To all those who love the nitty gritty of the technicals, and simply can't help but take measurements of everything, try as they might, BTC loves .886

Yes, the sqare root of 0.786

  ·  2 years ago (edited)

@haejin
Chart-Surgery / Chart Sure Jury / My Chart-Make up your own Mind

Solisrex, as the most valued Upvoter, Please name your questions or coins! At your service! DOn't forget the consult you have.

I'm grateful for your UpVotes!

Kind Regards,
@haejin

I find that I cannot ask for more than you already prolifically offer. Please give my consult to a newer follower, and may this Blog last 1000 years.
Thank you, Haejin.

Got it! Thanks for your generosity in UpVotes and consult time donation!

I am certain we will meet, one day. I tend to spend 61.8% of my time on the east coast. I will recognize your voice. I'll be the one with the goofy grin.

  ·  2 years ago (edited)

If we are meant to meet, we shall meet!
I am not the young lad as shown in the picture. He is my daughter's favorite Korean Actor.

I have a questions.
Can you please elaborate on what one should do if they see a certain pattern on a chart at a certain resolution and they see a different batter on a different resolution?

For example, An ascending triangle on a 1 hour chart , but a descending triangle or a H&S or anything for that matter.... on a 15 minute chart.

Has this ever happened @haejin? If so, what is the rule of thumb or the common practice? should we use the smaller time frame ( 15 minute chart ) in that case?

Thanks!

  ·  2 years ago (edited)

This is why I combine Elliott Waves with Chart Pattern. On those patterns, it's important to see how the high resolution counts jive into the larger degree of trend counts.

No real rule of thumb, but the larger degree of trend commands more respect.

Waves may be waves, but this time small investors know what's going on instead of behaving like greed/fear sheeple, and decide that they lose nothing staying in.
BTC will keep rising (shame, I would have loved some lower prcing)

@haejin I read somewhere that zec has bad news although it is not falling it is not soaring like the others either. You always say news follow. Could you comment please.

That's because news don't drive the price, sentiment does. News, just like price, is a reflection of sentiment.

To say news drives price is like saying a nickel has a greater value than five pennies. It's Non-Sense.

So we must think how do the ew of until yesterday justify the news today about zec @haejin. (I don't know the news, just saw people talking about it)

Yes, kinda of.

Could you take a look. I m invested in it. ZEC.