Bitcoin (BTC) Morning Update: Wedge Pattern Fractal at Work
SUMMARY
Bitcoin (BTC) overnight price action has decided to follow through with the wedge fractal. The white one shows the potential price pathway for the blue wedge.
Zooming in to as high as 15 minute chart, the abc divides well into a ZigZag (5,3,5). The subwaves show that waves a,c both subdivide well into fives. It's important to be aware that the abc red could likely be subwaves to a higher degree white abc as shown in below chart. IF this is correct, then $8,200 or so could be reached; but not required.
From a larger picture and patter perspective, the inverted Head & Shoulders pattern is still progress of trying to be confirmed. As price has not yet decisively breached the upper white line, the $8,995 remains to be taken down.
Legal Disclaimer: 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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BTC/USD
If we see it as a zoomed in version of that BTC Vs. Nasdaq dotcom chart, then it is possible scenario.
Hey Solis, can you tell me for the bearish scenario at what points you have put your fib trend? I can't quite make it out o the chart posted. Thank you:)
Trend-Based Fib Extension of waves 1 & 2
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Got it, thanks!
BCH/BTC
Bitcoin and the alts seem to be stuck in a narrow range. Looking for the news to cause the next breakout....either way.
Annnd the bearish neck line.... :)
Lets see who wins.
lol
i m 60% bullish myself.
i expected a bigger more violent drop
it's somewhat indecided.
although i m in USDT right now :))
I'm 80% bullish for tomorrows run. So, it means that this neck line is not going to complete. 😅
Breaking 7500-7800 will certainly bring the price lower.
JRcrypto
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expert @lordoftruth
https://steemit.com/bitcoin/@lordoftruth/bitcoin-trend-13-02-2018-uptrend-likely-persist
fake expert @haejin
https://steemit.com/bitcoin/@haejin/bitcoin-btc-morning-update-wedge-pattern-fractal-at-work
expert @ew-and-patterns
https://steemit.com/btc/@ew-and-patterns/btc-morning-update-12-02-18
expert @salahuddin2004
https://steemit.com/bitcoin/@salahuddin2004/bitcoin-13-02-2018
expert @philakonecrypto
https://steemit.com/bitcoin/@philakonecrypto/bitcoin-btc-feb-13-detailed-technical-analysis-indecision-in-market-bull-bear-scenario-reaching-critical-points
Bitcoin to $10k!? https://steemit.com/bitcoin/@investingtips/i-m-now-bullish-on-bitcoin
Thanks for the summary - good balance with the bullish and bearish perspectives. Could the two peaks at the apex of your wedge fractals possibly be a double top?
Dear Heajin please make Bitshare update....
It is following BTC path. What else to update?
Yes please :)
Im sure the bts will still be the same projection as haejins last. It was on a number of scales. We have dipped nice. Buy the dip hold atleast a few months
BTS/BTC formed a huge head and shoulders pattern. I think it's going down more if it breaks. I own some and its quite depressing...
please!
if there isn't a breakout this will be a bulltrap
hope we breakout soon
why is everyone ignoring LISK the rebranding is soon and they have so much potential !
Haejin any chance you could make an analysis PLEASE
A good time to buy would have been in the 12-18$ range when it dipped hella. but most people were selling around this level. If I compare it to the chart from November when the original rebranding date was to be (nov 22nd). On the 16th, LSK hit it's peak of 12 dollars. 6 days prior to the rebranding date. What should we expect from this? If LSK gets 1 more leg up, BTC wise it might hit .004. I am still looking for that extra leg up, but dollar wise LSK follows BTC as every other crypto. BTC is still in uncertainy, which makes investing in lisk at this moment very risky. If you had gotten in early, you are lucky. A common rule of thumb is buy the rumor and sell the news. Selling before the rebranding date is something to consider. It's more likely to go down. However, If they announce some good news and things to look forward to in the short term, it could surge the price up more.
JRcrypto
interesting buddy! well can we say that to sell his assets before wating for clear signals from BTC might not be the best he can do. after all BTC might make another good rally, if its not choosing the way down to the bottom.