Bitcoin (BTC) Mid-Day Update: BTFD the Wave 4 Correction!!
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SUMMARY
Two days ago, I had said to BTFD the Upcoming Correction. Has my stance changed? No. Why?
First, the below chart shows a correction to be very healthy! If we are now enaged in the long awaited wave 4, and as the day comes after night, wave 5 up is next.
Again, the Bullish Speciation of Altcoins in the three primary Chart/Elliott Wave patterns as shown below, is expected to support higher highs. Bitcoin crashing with such Altcoin Bullish stage is unlikely.
I present the Cup & Handle Species:
I now present the Jaws of WEALTH species:
And the Bullish Symmetrical Triangle Species:
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.**
Oh yea today was a crazy day. I think correction will be very healthy for december.
I expect a year end rally driven by institutional investors.
Like I said it’s a “fire sale” to buy at low prices. Go big or go home. Precious metals are a pretty stable investment if you don’t have the stomach for this. Thanks for the analysis Haejin
Diversity diverse. Diversity.
I wouldn't say these are "low prices" so to speak, but they're relatively discounted from what the market has shown them to be worth on recent runs. I'm so relieved the flash dump happened now to give people a reality check and consolidate. It was tempting to sell to short, but never short a bull market!!
haejin you are the man, the cryptoman!!! keep on going my friend!!!
Im thinking from a previous post of yours. looks like it could go more like 50% correction.
Thoughts on how low we correct too?
in haejin we trust.
haha exactly, he has so relaxed voice
Haejin would love to see your projection for wave 5 of 3 for the s&p.. What are the chances that the coming stock markets' corrections will be the catalyst and feed cryptos... 'runnin with the bubbles... ' talking about that 'something big coming'. Or it could be the much anticipated bond market collapse.. do you find any e/w indications?
Thats interesting I would love to see that happen.
I just loved the Bitcoin healty correction but was not ready that it involves altcoins, too.
This is an awesome lesson for me. 😅
You rule. PROPHETS AND PROPHECY FROM THE MASTER!!! (kneels)
Thanks for the update Haejin, do you mind reviewing a TA on chainlink. Its probably the most undervalued crypto right now.
HODL your coins, dont get intimidated by this correction folks!