Bitcoin (BTC) Morning Update: An Alternate Longer Term Pattern
SUMMARY
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Let's start with the longer term perspective. Overnight Bitcoin (BTC) price action has added little change to this chart. The Cup & Handle is still in progress and the handle formation has developed a little further. All else remains the same and as soon as the red E wave is complete, a trend reversal could be expected.
What I've never seen in Bitcoin (BTC) is a sequential rounded price formation. The chart below shows that as potential because the handle of the blue Cup & Handle could be the left wall of the yellow rounded formation. IF there is no explosive breakout and price prefers to go a bit sideways, it'll probably go into the basin phase (blue rectangle) before building the right wall. However, this is NOT the primary count, and is used to take into account the potential for a sideways price action.
The short term shows that there was a bounce, overnight. The yellow ABC are the subwaves of the red B. If yellow A is complete and B is nearly so, the there should be a yellow C wave bounce. That would complete the red B and so C would onset. Let's see how the price action plays out today.
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Two Cups are better than one...BULLISH!!!
hahaha!
well for once i agree with you and i give you a thumb's up and a upvote
Teeka thinks it's all up and up from mid May on. But I hear others saying it may keep going down until July before it really starts to lambo/moon again. Who knows?
VERY NICE!!!
I'm holding my BTC, and hope it will get High. Thank you for the post, keep the great work! :)
@haejin you need to continue to post on steemit and keep us updated.
Your community needs you.
He doesn't really care about the community, but he will continue to post on Steemit. He is too successful at raping the rewards pool to walk away. Plus I'm sure he owes Rancho payments until he can cash out.
Its a good thing that he makes alot of money on steemit that will keep him for posting every day
Well that depends on whether or not you intend to hold Steem for the long run, or even the short run. If you don't plan on making any money from Steemit, then it's a great thing. If you would rather be rewarded for effort put into content creation then him staying is not so great.
Good information bro...
Thanks....
Nice TA
I see the J curve at the end of the short term chart. That is a good sign worth taking notice.
You said it all. Good one.
Not interested in anything you do that is associated with Tone Vase and crew. Will stick to your Steemit posts as long as it is your independent work.
He is leaving Steemit for Bitcoin.Live!
It's just a platform with different analysts giving their own independent analysis. I'm looking forward to seeing @haejin's work on their as well as seeing the differing opinions of the other analysts.