Bitcoin (BTC) Morning Update: Wave 3 of 3 is NEXT!
SUMMARY
Note: Video has more details!
Overnight price action for Bitcoin (BTC) has delivered a decisive breach of the Neck Line of the Head & Shoulders Bottom pattern. The pattern is now confirmed and complete. So what's next?
Belos is how the subwaves of white wave iii could play out. Video contains exactly how the wave price heights were determined. This means that BTC is in wave 3 of 3 which is often the most extended and moves most violently. The target for this wave 3 of 3 (purple) is $12,457 or so.
The current breakout could rise high however, the nature in form and fit of that rise needs to be observed keenly. IF it looks very three wavish, the broader ABC could play out.
However, IF the rise if very impulsive looking, then the broader ABC could be de-emphasized and likely all time new highs would follow.
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.
Please consider reviewing these Tutorials on:
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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One question @haejin - like in Your previous update, I think we just had a 4 day long triangle consolidation.
How do You decide where to start counting new set of waves?
I did it yesterday:
You drew wave one starting where my wave B of triangle is.
After overnight price action I wanted to change my chart to this:
Is there any way to discern, with current info we got, whether wave 1 started:
a) where You drew it (wave b of my original picture, effectively with no triangle)
b) where it is on my second picture (making a correction ABC symmetrical triangle)
c) where it is in my original picture, but with wave E unfinished due to bull pressure (ABCDE triangle)
When unsure where to start counting new set of waves, it's hard to draw detailed, lower degree waves up.
I'd love to hear Your oppinion on this.
Not all triangles go to E. Sometimes they complete at D.
Your ABC option isn’t correct because the C must be below the B
Thx!
Ah! So there are no symmetrical ABC triangles? Didn't know that, shame on me!
Still, You drew wave 1 in the place of my wave B. If I understand correctly, it means You assume correction finished in the bottom of right shoulder and the rest of this triangle was in fact start of new set of impulse waves.
Is it also correct to count is as a ABCDE triangle, with wave 1 starting from unfinished wave E? Like this:
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I've seen plenty of partial E in triangles. I'd say it is the most common thing to happen.
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Top 3 master of TA.Choose best one & you love their work.Have a look
@lordoftruth
@salahuddin2004
@philakonecrypto
New followers of crap haejin becareful. Read it out.
Predictions of expert @salahuddin2004 towards their targets & investor start liking TA method of expert @salahuddin2004 , haejin fears and start downvoting his post by his other account.(@solisrex)
Is this steem platform only for wrongdoing whales?
In steemd.com @solisrex uses haejin as voting power you people can check it.
His TA & proof
https://steemit.com/litecoin/@salahuddin2004/update-3-for-litecoin-prediction-15-target-usd360-expected-date-before-30-april-2018
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I think it's very likely the broader ABC follows too... and reach new ATH after that later in May!
Violent and Vigorous Wave 3 incoming in 3...2...1...
@haejin appears to be accurate with his prediction. Look at the date at the bottom of this graph. History tends to repeat itself. It’s looking like BTC will go up to around $16k-$17k before correcting again. Hopefully wave C doesn’t take as long as it did in 2014 to correct but it might do it would be wise to take profits like Haejin said when it hits this point.
Or maybe it is a well working scheme on how whales trade? 😉
Good to be in the green again!
let's see for how long it lasts this time. I'm not against another dip for to extend my shopping trip
Greedy bastard! 😂
as always very accurate and on point :)
What would keep BTC from going up further the rest of the day?
Ever heart of going long and going short and stop-loss contracts? That where the "real" market is created.
No, I have not heard about these contracts.....So, the movement up and down long and short periods cause the market to move in real time?
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Why not share your trading strategy to us now?
Sentiment drives the price. So sentiment will be the only reason to change the price.
Thanks for explaining.
why so high?
complete of target H&S and then all bets ar off !Right?
Plus everybody is saying that at 12k is a mega uber resistence
PLUUUS you said that this is a leading diagonal. if it s a leading diagonal the correction is not over... right?
Thanks Sir