Bitcoin (BTC) Morning Update: An ABC is Now in Progress
SUMMARY
Overnight Bitcoin (BTC) had some good price action! The below chart had been posted in yesterday's morning update and price decided on this pathway rather than the abcde triangle. No matter, the destination is the same as now the ABC correction has started.
Price did poke through the upper white trend line as projected and that completed wave 5. Price then promptly went back under the trend line and started putting in a quick wave A of an ABC correction. This will likely go towards the region of prior wave 4 which could be $10,178 or so.
I had discussed how it would be unlikely for brown wave i to be the wave to fully breach the upper trend line. BTC now needs to regroup into wave 2 and get ready to launch wave iii of 3. It would be most ideal for wave iii of a 3 to make the breach as it would represent the big guns given it has the most vigor and strength. Fireworks can be expected IF wave iii of 3 starts its work.
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Good explanation. Maybe this is your secondary count? Anyways, this is my primary :)
https://steemit.com/bitcoin/@benkalashnikov/bitcoin-btc-analysis-update-3
finally a video update! great to hear you again :-) also I like how the bottom c fits together with the stock market top b, some money of that crash will definetly flow into crypto
Do you like elephants? Is that supposed to be like a heart & elephant together. I'm confused.
you are right😊 its my companies logo (non crypto related) and I just like how it looks 😄
Do you work for a zoo?
Haha no but sometimes it feels like 😄 just a little local eco brand which im running as a hobby, nothing worth mentioning 😅
I'd like it to reach $20 000 again...
no worries about that ;-) just dont become impatient
I believe $50k+ plus by the end of year
easily, by september
Next year? 😂
I wuz talking about 2020...
I believe we dont even need to wait that long if we are really now in the next impulse phase
Hope springs eternal.
Big resistance ahead, not enough volume.
Only if institutions give us a shove.
good job!
thank you haejin, can you give us you insight on ETC?
Is there any possibility you can take a look at DGB in the future Haejin? Ps love your TA
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Sir, you demeanor is impeccable. From your knowledge to your explanation. Not forgetting your marvelous use of language.
I enjoy all of it.
Thank you.
yes, I really missed the video updates, I enjoy listening to him a lot!
Sorry for the gap. I was traveling.
Wave 2 (blue) looks to shallow as correction, so I do think we will see new low and you ABC correction could be much deeper. If so, it negates your projection :)
it doesnt look to shallow compared to the prior impuls set
haejin (76) in bitcoin • 27 minutes ago
andriustovis (35) · 21 minutes ago
How on earth did you watch a 13:18 minutes video in only 6 minutes?
you dont need to watch the video for this information, you see it in the screens
Speed 2x
youtube
If you do listen very closely to @haejin, you can hear that a new lower low beneath the 5900 is still on the table! That must be his "second" count not mentioned by him to don't make things complicated.
yes, but then you cant refer to it as bottom of wave 2. guys here a messing up the EW principle so badly
good one