Bitcoin (BTC) Evening Update: New Target $20,698...My Analysis Explains in detail!
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SUMMARY
Bitcoin (BTC) has now hit new ALL TIME HIGHs with $12,186!! But, we're not even close to being done! The below chart shows an updated Bullish Ascending Right Triangle where the horizontal blue line was raised to connect more tops of price bars. This has also raised the minimum price run target to $13, 810. As this is the minimum, it is very likely to be exceeded!
The video explains in more detail how I placed these price pathway Elliott Waves. In summary, wave 1 represents the minimum price travel from the ascending right triangle. Wave 2 is expected to sit on the upper white trend line as support and then wave 3 should travel 2.618 x wave 1 in price distance while wave 5 is placed to about equal wave 1. That brings BTC to a probable target of $20,698.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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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.**
I believe it's very possible to see these highs, and even much higher. Many new people are jumping onboard the Bitcoin train, and the alt-coins are doing great also. The masses want an alternative to the fiat currencies that have enslaved us for years. Bitcoin and the alt-coins are that alternative option to say a big, 'FUCK YOU' to the fiat currencies!
Upvoted and followed.
WTF??!?!?!?! 20K??? im loving this!
Thanks for all your help Haejin..
After resteeming your posts, can I also post Korean translations of them?
No, please don't. ONLY resteem
Ok.. thanks
Stupid question probably, @Haejin. But why is the third wave 2.61 times the length of wave 1? Is that one of Elliot's rules of thumb?
I believe it would be an estimate in reference to the Fibonacci ratio.
Please view my tutorial videos
YESSSS
by December 15...???
that'd make for a merry christmas.
although there'd surely be alot of people freaking out when the correction back to 13-15k would happen. lol. even though that's still higher than where it's at right now...
Wow! Some big numbers right there! Thanks for sharing! I hope you're right!
Meanwhile we are in the e wave correction of BCH according to Haejin's prediction three days ago. Will it go to above 3000 as he predicted.I feel like I am reading a thriller, and I want to skip to the end.
whoaaa by mid december???
Thanks for your detailed explanation of how you project price from the apex. Very helpful.
WOW!!! Just found your content. Fascinating. I think I know what you are doing. What about a bigger BTC retracement? Wasn't BTC supposed to correct back to around 7-8k?
The fact that we're just now entering the phases of serious institutional money coming in AND normie mass adoption has delayed the correction that would otherwise be well overdue.
Yeah I agree with you, correction was delayed. But not sure if it is a good or bad thing. I think the earlier a correction comes the better. It would effect the whole market less if we get over it quickly.