Bitcoin (BTC) Morning Update: Awareness of Big Picture Keeps the Panic Away!
SUMMARY
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Note: The Video has tons more details!
Bitcoin (BTC) overnight price action completed the abc correction from the very first five wave impulse from the bottom. Price then started rising and has hit the resistance zone of $9,079. The purple subwaves show a second set of impulse waves and that's a very good sign of a continuing turn. IF the bottom is IN; this impulse needs to breach the $9,079 and then $10,305 levels.
There is a scenario of an ascending right triangle to form as shown below. That would also be quite bullish and declining volume confirms. The $9,079 level would act as the horizontal line of the ascending right triangle.
The larger degree of trend perspective is shown below. Since the genesis of Bitcoin, price has been working towards the $20k zone to complete the wave 1 and currently, we are working on wave 2. What happens after wave 2 is done? Wave 3 is next and this way is the most vigorous, energetic and violent in its way up! The coming wave 3 will be near vertical and a jaw dropping sight to behold! I've explained how and what could drive BTC to these levels of six figure price....liquidity shortage!
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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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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Rough times but thanks for updates. We all have opinions that we think are right, but in the end no one really knows what is going on, what will happen. But you do provide Bullish awareness...lol Which is always good.
It’s funny because it’s true!
Why not upvote the comment you like so much, instead of yourself...
Sooo true! And behind those guys is us, waiting to see if we buy or if we sell :)))
🔥120k🔥
🤯🤑🤮
Your artsy post looks like a Las Vegas slot machine result. You may need a few more of the flames and the dollar sign eyeball crazy faces:)
When it decides to makes it move it should breakout to new highs.
I made great buys yesterday. Now just sit back and enjoy the ride. Less fear of panic with info like this. Thanks Haejin!
It's late ...... I lost again !!!
No, there is still a lower low on the table...not yet out of the woods.
I beg you. Please coach.
Just follow his tutorials and repeat until you understand them.
Why beg. Just follow and learn!
the point is, prepare for the alternatives, don't put all your eggs in one basket. That is why he says ladder your ladders: create a ladder that fits the primary count but don't deploy all your assets there. create another ladder that fits the first alternate, and so on. Don't panic if all your ladders do not get filled.
@haejin how long till the lower low?
hopefully at a point where you got money to buy! if you got money now, just open buy orders around the lowest low, 7/19 of mine got triggered, so dont do just one big, do many little orders with some range between
377 votes are worth nil? Is this platform broken?
Update on BitShares, I think there is still one more wave down. Even if Bitcoins price takes off like Haejin wrote in this post, it could make the alts go down if people are trading from alts to bitcoin. Or it could go down from Bitcoins price not being out of the woods yet and go down to around $7k like Haejin mentioned from yesterday’s post. It’s crunch time so people are getting anxious for the price to boom so that’s why there are many opinions. I can’t see any other alternative for BitShares but if you can and you think my graph is wrong let me know I would appreciate it.
Nope, you're absolutely right. Except I would have counted it as a zig zag 5-3-5 and your count is a flat, but hey, who cares, same destination right? ;)
Target is $0.17 for BTS by the way on my counting.
Oh okay yeah a zig zag is probably right, either way they both end with 5 waves on the c wave. Looking forward to below $0.20, I will be very happy, I’ve been holding off buying more until wave c finishes.
It's really helpfull that you offer multiple scenarios. As a beginner, it's not easy to keep a mind open enough to see all the possibilities. Thank you and hope you stop being downvoted (I don't really get that, by the way!).
As I said before just HODL and buy more!
You are 100% right
We gonna break out one day! Until then.
We'll all feel gay when Johnny comes marching home.
This is my favorite version of this song. I have tried to find the name of the vocalist but I have had no luck. I would love to check out some of her other work if anyone knows her name?