Bitcoin (BTC) Update: More at BitcoinLive!!

in bitcoin •  9 days ago

SUMMARY

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Bitcoin's (BTC) decline yesterday can be counted as an impulse sequence where wave 3 took place. Since wave 3 moves the most violently, the vertical nature fits quite well. Much of today will likely be used to complete waves 4 and 5. This means a probable lower low. The decline could also pattern out a downward pointing wedge (purple).

The wide scoped view shows the ZigZag (5,3,5) sequence still in play and should be at its terminal end. White wave 5 could also temporarily pierce the lower trendline. However, it shouldn't be decisive. IF this pattern is correct, this should be the last ABC sequence.

The longer term view shows the pattern that has been in play for the whole correction. The ABCDE count is correct with the E wave at the bottom trendline and not at the top. IF this is correct, then the bottom trendline needs to hold against any decisive breaching; though, it could temporarily be pierced.

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.

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Thank you @haejin for not leaving your followers in the dark...Although I remember your 6800 call a few weeks ago and have been doing my own TA and due diligence to reassure myself that we are not "crashing" but correcting.

Hi Haejin, good to see ur vids again! about that, wanted to react on it as i'm more into the down going scenario myself too. The book elliot wave principle states on p51 that traingle occurs as wave B...? feedback on it??
hope to see some more of ur info back here! grtz

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If this is a triangle in progress as a B wave than C=0.618A will take BTC below $0. It really doesn't fit here imo. And triangle should go in the opposite direction as the main trend. Since main btc trend is up, E wave should be down.

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this triangle would be broken out at D, ur right about abc relation, fibs don't fit...
the main trend will always be up, since we do 5 steps forward and 3 back, here we are definately in a correction on bigger pic from ath, if you take start of parabolic jump in 2015 to ath, 786 fib is around 4.3k - 4.5k...
also not sure if B is traingle, that this fib relation a to c still expected to be normal...

w2 from ath could very well be a deep one, as often the deep wave 2 is like the end of the world...

Does this mean the end of bitcoin have started?

Your post has been very good. Very well, thank you for sharing something good.

Missed your updates; many thanks for this once off!

I wonder whether you have an alternate count which drops to/below the 5k range, something most of your colleagues are mentioning is about to happen, i.e. Wave C of larger correction? Tone Vays, Peter Brandt, Philakone etc.)

ı think priice 2014 years seem to be maybe john macaffee say years and 100.000 or mr lovers say 1000. what to be time is seem every thiink. I need time machine :)

Life will always have a different plan for you. If you don’t give up, you will eventually get to your destination. But towards the end of your life, you may look back and realize that it was never really about the destination; it was the journey that counted.

Welcome back master haejin.. we missed u..

Bitcoin crash coming soon, stay tuned~

I guess that's goodbye then

Maybe this has been asked a lot already but what would it be your most bearish case scenario?

I think dropping below 5k it's going to be a​ serious deal.

Thank you for sharing! Really been missing your crypto analysis!

Muy buenos tus videos...

dear sir,Thanks @haejin for keeping us updated.... Informations like this are good even if not for investent purpose at list for the knowledge of it. Thanks a lot......!10.gif

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