Bitcoin (BTC) Evening Update: Continuous New All Time Highs Expected!!

in #bitcoin3 years ago (edited)

SUMMARY

Bitcoin (BTC) made moderate gains today. Based on how the micro subwaves look, I've updated the Elliott Waves so that wave 3 is lowered slightly to $8,483 and if overnight price takes that out...great!

The below is Bitcoin Cash (BCH) and I've laid out a much larger Head & Shoulders pattern with a target of $2,007. Also, price did breach the upper line of the ascending right triangle today and is now consolidating. The target for this pattern of $1,387 is still valid. The video has more details!

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
Follow me on Twitter for Real Time Alerts!!
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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 - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf


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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did you guys see this announcement....holy sh$%T...good thing we use BitUSD BitEUR and others guys...this is a disaster...hope none of you are holding tether...actually its not that bad...30 million compared to other problems like with Ethereum and others makes this a drop in the bucket...but the timing related to the snowballing of Bitfinex and Tether having problems is really suspicous..and this really highlights the systemic risks related to Tether
https://twitter.com/Tether_to/status/932812123020787714

Tether was always going to have issues. I don’t understand why people would use it.

Woah!

thank god im fully out of tether... it was useful but at this point I dont think I even need it

i know...im so glad i moved over to BitUSD....this is way better than moving into a bank account which is always watched 24/7...plus i have friends that had accounts shut down by BofA and Wells because they were moving in and out too much..it made them nervous about money laundering..heed this warning guys..use Bitshares multiple currency pairs to park funds..this way you can avoid getting you bank account shut down until you really want to move funds to a bank...cheers

Can you apply the Elliott Wave or the Bell Curve to the cryptocurrency market cap ?
(Total Market Capitalization )
If so, please do
I would like to know where we are at in the adoption phase.
Thanks

Yes john..it is my understanding that this is also a true reflection of market sentiment and psychology..just in a different form..i've seen robert prechter and other analysts do wave counts on housing and other markets...cheers friend

Can you please check BTG? its been moving very well

Haejin is amazing. What feeds Bitcoin? I have come to the conclusion that new ICOs draw in extra money, then after the hype and pump and dump, the new money heads to BTC. The Bitconnect/Hextracoin HYIPs feed the BTC bubble, too. A person can actively trade - or just stay in BTC and skip the mental gymnastics :) Or they can follow haejin's blog, and prosper. Either way, I'll keep an eye out for when the bubble bursts. Maybe I should buy some real estate in a tax haven... :) Retire to sip pina coladas on an island in the Bahamas.

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Bitcoin will cross 10k this year 😉

Because the math is correct, since 3 days BTC and BCH have a ratio between 6.0 and 7.0, then by the time BTC reaches $ 9K BCH will have $ 1,323 and by the time BTC reaches $ 10K BCH will have $ 1,470. Let's see later.

and the profit is 25% in each coin, from $ 8k to $ 10k in BTC and from $ 1176 to $ 1470 in BCH from now on.

Well that's kind of disappointing... I expected 1,800 for BCH by the time BTC reaches $10K.
😎

Video is not working for me..

Same here

Kind request for refresh of XVG-USD and XVG-BTC. Price either broke down from the symmetrical triangle from Your post or... if we draw the triangle a bit differently - it can be still in it, nearing resistance.

I will have my books soon, but I tried to draw what I think. It's 99% based on Your XVG-BTC chart, only with a bit different triangle and different positioning of wave C.

I think recent price actions show that wave C wasn't complete on 20th of October, but it's close to completing now.

It may bottom at around 62 satoshis and start wave d (to around 143 satoshis).

How does it look Haejin?