Bitcoin (BTC) Morning Update: MACD says a KABOOM is Probably Coming Very Soon!!
SUMMARY
Ethereum (ETH) has been diligently putting in the subwaves of the ABC ZigZag correction. Overnight, th 0.618 Fib level was reached and riefly penetrated twice. Thus far, the blue cluster of support seems to be holding. However, there is an alternate count.
This chart shows that the alternate count could require price to dip to the yellow level of support cluster. This would bring it to the 0.78 Fib level. This is likely and should be well in your awareness.
Bitcoin (BTC) has also be ZigZagging its correction. The first five subwaves of the A and three of the B are complete. Could the ABC be complete for Bitcoin? Yes. It could perhaps retake the baton and start cranking upwards. Let's see what happens during the next couple of days.
Now, again, let's not lose focus on the longer term. Here is a 4 hour MACD chart for Bitcoin. It's almost screaming bullish; that a breakout is about to happen it's just that no one knows exactly when. The current price correction could be the prelude to the the breakout event. Given this chart, is this the time to be taking SELLING or BUYING actions?
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
Where is Kaboom?!...:)))...
KABOOM ftw
I guess BTC will again hit the peak
Today update cryptocurrency news
Thanks for sharing bitcoin
a great point~~ i appreciate it~!! It was very helpful.
EOS don't care too much :)
Is EOS first project to be decoupled from BTC ?
BTC is the base. Like Earth for your. How can you decouple from Earth?
Thanks, can you look at https://coinmarketcap.com/currencies/theta-token/#charts short, med and long term?
Nothing ever decouples from BTC because Bitcoin is the moon that moves the tides in the Cryptosphere Ocean and ALL altcoins swim in it. There may be episodes of non-phasic price moves where EOS rises while BTC declines; however it will never be inverse.
I disagree with that statement. The only reason BTC dominance is so high is because it is the middle man to most Alt pairs. Examples such as BTC/ETH, BTC/ADA, BTC/XRP and so on and so forth. Bitcoin dominance has dropped from 85% back in January 2017 to 36.6% as of today. When time comes and block chain technology further settles, most exchanges will do fiat to alt-coin and Bitcoin will completely decouple from alt-coins as it will no longer be needed for investment purposes anymore, mark my words. Great post btw, thanks for the great content 😁 👍🏼
Can you do analysis on EOS more often? It's highly talked about right now!
Coins mentioned in post:
buenisimo.. felicitadones...
Once MACD breaks out, would it put up a five waves impulse after ABC correction?
EOS don't care too much :)
Is EOS first project to be decoupled from BTC ?