Crypto Contest September 26: Bitcoin
Bitcoin (BTCUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Bitcoin began a wave one advance in January 2015. The red wave one finished in June 2016, and the red wave two correction ended in August 2016. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on September 2 this year, and the red wave four correction ended on September 15. If this wave count is correct, Bitcoin should be heading next towards the September 2 peak in the red wave five.
(Chart courtesy of Tradingview.com)
Looking at the monthly chart, I believe Bitcoin is currently in the red wave three (blue sub-wave v).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Bitcoin will takeout the September 2 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Bitcoin will drop below the September 15 low".
If you think Bitcoin is in a range, upvote this post and upvote the comment "Bitcoin will stay in a trading range between the September 2 low and the September 15 peak until October 27".
You can upvote the comment until 3 PM EST September 27 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Bitcoin will takeout the September 2 peak (31 voters as of 3 PM EST September 27: dan-atstarlite, bleujay, otisbrown, bentleycapital, ace108, soundmoney, kooshikoo, gregory-f, kunschj, lucasgabd, lydon.sipe, simonjay, themovieplace, catena, skririm, cryptokraze, eirik, dlina-v-metrah, lasper, komischername, incrediblesnow, coolthings, cassidyandfranks, psywalker, napkin, c-c-c, digitalking, arpepa, sweethoney, garudi, me-do).
You won.
Bitcoin will stay in a trading range between the September 2 low and the September 15 peak until October 27 (21 voters as of 3 PM EST September 27: me-tarzan, twinner, osmanbugra, flemingfarm, miniature-tiger, tzap90, starline, jznsamuel, mirda, criptorafa, heroic15397, ahinga, ragnaros, allmonitors, andy23, yefet, mprgrmmr, yosaryan, crokkon, barcalogia, freskil).
I am expecting ATH to 6000 - 7000 range
It is possible.
Bitcoin will drop below the September 15 low (6 voters as of 3 PM EST September 27: anetchen, libert, gunsmithing, abh12345, yinyangboobookat, mitrado).
Nice charts! I've resteemed and upvoted your post. Steem on!
Thank you snapcharts.
I didn't have to look this one up!
No. I guess it was about time to look at Bitcoin again after several months.
Glad you did as well!
@originalworks
Hellooo @maarnio
The great your post
Thanks
Thank you ata.
Ok @maarnio
You are the best ;)
"Bitcoin will takeout the September 2 peak"
I still waiting for more information. You can read my BTC price review here: https://steemit.com/bitcoin/@mustang/bitcoin-price-action-for-9-25-btcusd
This wonderful post has received a bellyrub 9.37 % upvote from @bellyrub thanks to this cool cat: @maarnio. My pops @zeartul is one of your top steemit witness, if you like my bellyrubs please go vote for him, if you love what he is doing vote for this comment as well.
Good post
Thank you cryptomaker.