BTC Morning Update: Two Paths = Same Destination...UP!
SUMMARY
Bitcoin (BTC) overnight price action climbed moderately higher. The below chart shows the projected price pathway should the A,B,C red waves are complete. The circled blue waves could be drawn as impulsive set of fives and thus trek towards the $7,916 target destination.
The chart below remains my primary count. It shows that the current rise in price is that of the red B wave of the A,B,C correction. This B wave is subdivided into circled purple a,b,c and the c wave is further subdivided into fives since every c wave of a flat of zig zag has five waves. If this is correct, expect prices to start putting lower lows towards the large red C wave at around $6,800 or so. Still, it makes no matter which price pathway this correction takes since the destination remains the same for both and that is UP! The video has detailed wave counts and thus a very good review to the Elliott Wave Count Tutorial.
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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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.**
It's been a week or so since you've done a STEEM analysis. Any changes on that front?
https://steemit.com/kinbit/@tworld/please-listen-to-my-speak-kinbit
Per MACD chart, is a major correction coming soon?
is it me or...thats the same video as the previous one :D
Breaking news!!! Segwit 2X canceled
weeeeeeeee. 🚀
Thank you!
A bit confused...your charts while just posted show prices below where they are currently...price has hit about $7,492 at moment compared to $7,250 on yours?...that would seem to raise the purple b almost as high as the red b...that then looks like an upside down head and shoulders pattern...
While I understand what you are trying to say about what TA truly tries to represent...but I disagree when you say "it makes no matter what direction price pathway takes"....it does to those of us who are looking to buy back in closer to suggested $6,700 down target compared to having to buy in at $7,400 if correction is over...so while I it appears we are at some point heading to a final wave 5...are we already beyond the downside correction? Would your probability change based on increased spike in price? I guess the chart has a life of its own as you suggest and sentiment can be very fickle.
My primary count is clear, wave c to complete at around $6,800 or so.
Been waiting on this to get out of a few positions and into BTC.
🐾🐈❤️ Hello again.. thank you again. Is BCH going in the same trend direction as BTC?
Or is it going in the opposite direction? When BTC reaches its final downward. destination,will BCH also go down? I’m asking because I don’t know whether to ladder into BCH at this point. Are you still on the sidelines with BCH, still?
Please check prior BCH update. Still same.