Bitcoin (BTC) Morning Update: Effective Counting of Subwaves is Key!!
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SUMMARY
Bitcoin (BTC) overnight price action looks to be putting in the subwaves of a smaller correction before resuming the upside towards wave 3. I've added the subwaves of the c waves as 1,2,3,4,5. Remember that wave c always has five subwaves and counting these correctly is key to ascertaining the "geo-positioning"of your waves. Therefore, if this is likely a wave c decline of an a,b,c correction, then five wave completiong counting allows greater confidence that c wave could be complete. The target of completion point could be $12,463 or so. I know that many are already freaking out on this smaller decline and I assure you, there is no happiness to be found in crashing from panic to euphoria and back. I have repeatedly said that awareness will help keep the panic away and that means gaining proficiency to analyze scenarios from possible to probable to gain greatest awareness of where and how the price will behave.
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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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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.**
Take a look at NULS too it's an undiscovered diamond.
Nice job. Thank you.
❤Yes, this is very excellent. Thank you for the effort and valuable information
Thanks @haejin for your work! Your wise words and analysis is much needed and greatly appreciated in this crazy time.
I'm positive that bitcion will just in just a short period of time and this is the best time for investors to come in
Thanks haejin, you keep me calm during these days!
is it possible for you to take a look at civic (cvc) again, is your post from a month ago still valid ? looks like we are going to go into abc correctoin. or are we going for blue wave 1 now ? i am still new at this
Btw it had no effect on Ox (ZRX) , I hope it's cup and handle is completed and will reach $2.47 as you mentioned .
it had no effect on another 1000 coins
some of the coins dipped by 5-8% . anyway i hope ZRX goes up now .
5-8% is nothing in crypto... negligible ... they do that pretty much every day if not every hour :D
I know . 20% of my portfolio is for trading . I try to make 10% daily and when it get 5% DOWN I REALLY GET IRRITATED .
You really need to get over that or you will have a miserable life trading.
I know but i am getting addicted to it . I hope i will manage it somehow .
@Haejin Do you think this is possible? or is the TA wrong?
I'ts looking Bearish here my thoughts https://www.tradingview.com/x/E1hLR6Qp/
Excelent analysis. You came to the same result as I do in my analysis #23. Check it out!
Happy new year 2018 and profitable trading!
Short term altcoins plz
11860 already breached before you posted this ... is it still wave 1-2 ... its about to breach point 0
Depends on what exchange you're on.
Never dipped below 12500 on mine.
On the chart he posted, which was Bitfinex, the count remains valid as long as it doesn't hit $11600 or so at the blue circled 2. Even then the count could morph from 1-2, 1-2 to 1-2 with an expanded flat as long as a lower low isn't put in below the white 5 that preceded the blue 1-2.
well it hit 11650 in Bittfinex. I think it's going down more https://www.tradingview.com/x/4tD40cxe/
But it's going up soon