Bitcoin (BTC) Morning Update: ALL Crypto Analysis Changing to BitcoinLive Platform!!
SUMMARY
Note: Today is the very last day for Bitcoin Morning Update on Steemit because all Crypto Analysis and requests will be moved to the BitcoinLive platform which will launch tomorrow, June 4th!! To Signup for the BitcoinLive limited Founding Membership slots, use this link: https://get.bitcoin.live/haejin/
__
Overnight, Bitcoin (BTC) did a small surge to decisively breach the Neckline of the Inverted H&S pattern. The target for the minimum run for the IHS is still $8,200. However, keep into awareness the upward pointing wedge pattern (blue lines). Price will likely go sideways again for most of the day and if there is one more surge, it will either breach the top blue line and invalidate the wedge pattern or validate and confirm it with a decline.
The bull flag pattern is still in progress. Note how the wedge pattern is now sitting just below the belly of the upper white trend line. So, a decision needs to be made. An upside breakout would provide the pathway to the $8,200 target for IHS. However, a downside could jive well with the MACD progression. What does this mean? The next chart clarifies.
Note how the MACD is at the belly of the upper blue trendline. I believe it could do one more turn down towards the lower blue trendline. This turn in MACD could also mean the $6,700 level or so and IF this occurs, many will whine and panic sell. So, keep this into your awareness because awareness keeps the panic away! The MACD will be that much more proximal to the apex. How would this impact the long term outcome? None.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
oh no:-(
Good analysis,thanks for the financial advice,we await the launch of Bitcoin live platform tomorrow.Keep up the good work.
I've been following your analysis since last year and I am a bit disappointed that you would turn your back on the Steemit community and go to a private website that costs $800/year to get your analysis...
$800?!?!?!?! Anyone folling Haejin knows to take his TA with a pinch of salt as it is - I give him 6 months on on his new veture and he'll be back on here.
Nah, he'll keep milking Steemit for max profit with his stocks TA and keep the crypto on bitcoin live. Not sure why someone making $1 million+ per year off TA needs to make even more money, but you'd have to ask Haejin about his reasons.
Because even if no one else votes for his non-crypto TA on here he still has his whale friends on steemit doing absolutely nothing but voting for him and he still makes nearly the same rewards. The truth is his TA is not very good, if it was he wouldnt even be wasting his time with this new venture because if his calls were actually good, that plus all the money he gets from steemit he would have so much money he wouldn't even need this new project, it would be a waste of time. Not only that but it shows how little he cares about the people that supported him.
You are making how much on this platform he yet you need to charge for crypto and post TA most people do not care about?
If he was in early + his calls were good + steemit $ he should have tens and tens of millions. Heck I know people that put in less than what he makes in a month on steemit just over a year ago and they made tens of millions with no TA
I agree.
This @haejin guy of your trully great TA guy is gone for good. what will you do whoever was defending him all the time... go and pay $$$$$ for him now.
ALL HE CARES IS THE MONEY HE GETS FROM EACH POST AND YOUR TIPS
SO LOLOLOL
Looks to me like the current trend is downward. Only news or some kind of event is going to reverse the downward slide.
Yup there are zero signs we go up in this wedge vs down. Most of the top TA guys actually have us going down after another small leg up.
Of course haejin was bullish in January until it was too late, which was an epic fail, so maybe that is why he needs this new project.
Many thanks Haejin for all the updates. I really enjoyed reading and learning from you. Unfortunately you don’t offer monthly subscription service, hence I cannot register for Bitcoin live. All the best.
Same here. Signed up for the founding member email list on Bitcoin Live and my mouth dropped when i seen the subscription price come through a few days ago. Not sure what they count as affordable - But $800 ...really!! Plus we are in a tough market and most of my investments are down 50%.
I'm in the same boat. If the markets were moving a little more it'd be easy, but I just can't justify the year's expense right now.
i'm really going to miss these updates. though i may sign up for bitcoin.live, i'd like to wait for it to launch. it's a hard sale at $1k with nothing but a couple screen shots....
Learned so much about TA from you now you're the baddest guy on steemit. Gratz haejin!
nice info
right
Its a shame, you will be missed, I as well as most others will not move over to that payed channel. Also I'm not a big fan of Tone Vays, no offense but BTC maximalists are a cancer to the space imo. GL over there, I cant imagine you make more money on that channel.
Tone Vays decided to not join.
Interesting, probably because he doesn't have the balla to trade.
Posted using Partiko Android