Potential High Impact Trade: Buy $5,387 to $5,314; STOP $5,275; Target $6,200; Profit Potential: 16%
SUMMARY
BTICOIN (BTC) High Impact Trade Potential: Buy $5,387 to $5,314; STOP $5,275; Target $6,200; Profit Potential: 16%
Once profitable, protect profits with tight trailing stops.
Bitcoin is completing another smaller a,b,c,d,e triangle as shown in below chart. This should lead to one more lower low. At around $5,314; cast buy entry ladder (3 rungs) down to $5,314; Set STOP at $5,225
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BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
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.**
i believe we are in the last wave V
we are currently in wave 4 of (3) of V
wave 5 of 3 will complete at or near the bitcoin gold fork,
abc correction for wave 4 ..
then up we go for last wave 5 of V ..new ATH during second HF..
and ITS possible Segwit 2X becomes new Bitcoin ..
currently 85% of the miners are backing segwit 2x
if it stays this way and BTC only gets 15% of miners backing it, then only the exchanges can save btc
by not accepting new segwitcoin, and we already know thats not the case,
so we could have a new BITCOIN...
it fits perfectly with ELLIOT wave completion of the final wave V
BTC crumbles and SEGWIT 2X emerges as new BITCOIN
during btc correction we could have a new BITCOIN!?
You could well be right but I think it will take more than just miners to crown a new king. Miners will go where the money is and btc has massive first mover advantage and network effect. It also has the name. It’s going to take a lot to overcome that. Have to wait and see.
take a look at the article, unfortunately it not us who decide....
Many will argue that what matters most is the exchanges. If the exchanges refuse to trade the Bitcoin 2x token, it will die off. All they have to do is support the legacy chain, Bitcoin Core’s version of reality, and 2x miners won’t be able to get any money for the coins they mine, and they’ll switch back to the legacy chain.
The problem is that exchanges will almost certainly not do that. No exchange in their right mind is going to exclusively support a token that only 15 percent of the miners are backing. The Blockchain simply won’t be secure enough. When Bitcoin Cash was first released, exchanges took several days before fully supporting it, because the low number of miners meant that an attack on the network would have been trivial.
https://www.cointelegraph.com/news/if-hard-fork-happens-chain-backed-by-majority-of-miners-will-likely-win
Miners follow the money, they don't lead it. If 2X becomes defacto bitcoin, cryto will struggle to find mainstream adoption. People outside of crypto want to use it to actually solve issues, not just speculate. If its splitting 3 times a year then you cannot design infrastructure without predicting which coin will 'win'. Blockchain tech will continue to thrive on private blockchains etc but actual crypto currency will not hit the mainstream, certainly not in the near future.
I agree with what you are saying ...by holding btc you get a new coin after hf so you don't have to worry BY predicting which coin will win .
.you will have both ?!
if 85% of miners are agreeing to S2X then they are leading and not following
HENCE THE SPLIT ..
goodluck!
If 85% of miners switch chains the difficulty in that chain will rocket and if the value of that coin doesn’t rocket also they will be making considerably less and will switch straight back.
pretty sure the 85% have it figured out
Let’s wait and see what happens. If the original btc loses its position as leader, all bets are off!
So you think bottom of wave IV was at $3000 and we are now in the final wave V before correction and segwit2x takes over and BTC disappears into the distance ?
its looking like the bottom of wave IV was 3K,
if 85% of miners continue to support segwit 2x ,then Btc can go the way of bitcoin cash...its fluid and can change ..
but what I believe to be wave V is timed perfectly with the news segwit2x coin...
can this be coincidence ? we will have to wait a see
If Hard Fork Happens, Chain Backed By Majority of Miners Will Likely Win
https://www.cointelegraph.com/news/if-hard-fork-happens-chain-backed-by-majority-of-miners-will-likely-win
I think your call of wave V likely coinciding with segwit2x seems the most probable outcome. Crypto is funny you can do brilliant TA like Haejin but if you do not factor in peoples emotion it seems it will spring up surprises. Should have gone with my gut that BTC would rise until BTG fork, but sold BTC too early and been waiting for the big correction ever since lol.
This may be happening actually
Recently got introduced to your blog and have been learning a lot, so thank you for all your hard work in spreading knowledge. I'm a novice so this may be an obvious question but now that the price broke through the ABCDE triangle upward by a significant margin, does that invalidate the count you have here and need further review or does it fall within the expected range of where E was supposed to conclude? Thanks!
Upvoted this question. I've also seen a sort of horizontal "S". Suddenly up, then violently down... finally up again more or less where it began. But this may have just been a strange ocurrence, not a pattern.
I'm having trouble deciding the trailing distance. Is there any technical way to determine that?
1.5 to 2.25%
Excelent! Thanks! 2.25% fits very well with the values I used on LTC and ETH, guessed by watching the corrections during an uptrend. Now I know a number.
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Thanks for the great posts. What would you normally set the trailing stop at?
Sorry, I see you have already answered that question. Many thanks