Bitcoin (BTC) Mid-Day Update: Combination of Patterns & Elliott Waves
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SUMMARY
Is it time to panic? NO! Is it time to run for the hills? NO! This is a healthy and normal correction! Should some profits be taken? Well, hell, in light of the vertical price moves in altcoins I had recommended...that seems very sensible. When should I take profits and when are good times to buy? Those are well detailed in my Free Tutorial Blog
The chart above is showing how the Elliott Wave Zig Zag (5,3,5) correction falls into place with the Head & Shoulders pattern. The subwaves of C is shown in green. Remember, that wave Cs always have five subwaves. Wave Bs always have three subwaves. These are detailed in my Free Tutorial on Corrections. The Zig Zag correction coincides pretty well with the Head & Shoulders minimum target of $11,479.
So, keep our heads cool. Take deep breadths. If you've made some mistakes already, always remember that a good trader is a bad trader who forgives himself for his mistakes, learns his lessons and tries again.
I wish you MASSIVE profits!
Kind Regards,
Haejin
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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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.**
Hi Haejin, I created my Steemit account and added steem to my account just because of you. You inspire me to do no harm and to gain massive profits. Thank you for all that you have done for this community. Your followers have your back.
I look forward to your posts every day and I wish you a merry xmas.
It is a lie! Author is a scammer and you are the puppet bot.
oh my gut
Nice Phillipino impression.
.... Reminds me of ... Russel Peters !!! xobile!!!
Very nice!
Is this the correct long term count? If so. we have a way to go before making the final turn and run up to wave 5. The .618 Fib is somewhere around 11,214 from what I can tell.
This is the weekly chart for Bitcoin using Coinbase. Thoughts?
Or how about this? We just topped Wave 1 and are now in the Wave 2 correction? If so Wave 3 would be a heck of a ride North. How else are we going to get to $100K or $1 Million of we don't start working on a larger scale? Below is a weekly look at the possible completion of Wave 1 of the Primary cycle.
Merry Xmas to you too
If you want to know the history of bitcoin, visite my blog about the wonderful history https://steemit.com/cryptocurrency/@aek081969/bitcoin-currency-that-will-make-history
It is not out of the ordinary for profit taking, especially around the Christmas season.
I actually think this is a very healthy sign.
What I do not think is healthy are the transaction delays and transaction fees. Today is Day 3 of my @blocktrades transaction not going through.
I'm starting to lose patience.
"The Zig Zag correction coincides pretty well with the Head & Shoulders minimum target of $11,479." ...everything is cool...but change "minimum" :D
Are we talking about shampoo?
Oh yeah! This ride is better than anything at magic mountain!
Thanks putting the Elliot Analysis up. I usually use the TD Sequential which two days ago began a negative count. So both would seem to be suggesting a high probability of a Distribution Phase. Will it be followed by a Negative Public Participation Phase or Panic Phase...we will have to wait and see. But it does seem like the Hodl'ers will be able to pick up some bitcoin at better prices soon.
Excellent advice as always. t's moving back up though and is past that support line, is it over or is this just Wave 4?
It turned out to be wave 4
You are like a master to this bitcoin Game :P.. Awesome information
Hahahaha, I laughed out loud at that image popping up, sorry my SP was wasted on those....."people" or I would give you some cash for it
Its Ok:)
Haejin, wich cryptocurrency would you buy whit BTC before the correction ?
There is almost always one that goes up when BTC drops.
If you are familiar whit Cryptosniper thats how he makes fortunes, by transfering from one to the other.
Except he charges huge amount for his knowledge to his clientele and you do it for FREE and I
Thank You! for that and wish you all the Best there is in life !
Congratulations @haejin, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 395 and the total pending payments to posts in this category was $9343.49. To see the full list of highest paid posts across all accounts categories, click here.
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Lets hope this doesn't happen just yet :-/