Bitcoin (BTC) Morning Update: Probable Patterns
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SUMMARY
Bitcoin (BTC) overnight price action updated the position of the c wave of a,b,c. The correction is clearly executing the "Hurry Up & Wait" syndrome. The green horizontal bars show the difference in time with regards to how long it takes to place the impulse waves vs the correction. The green bar for the correction is about 1.618 of the impulse time. My primary count is still higher highs.
A probable pattern is the Cup & Handle as shown below. Now, this pattern is not as common for Bitcoin as it is for the altcoins which show it at every opportunity. This difference is due to sentiment segmentation. It's similar to preferences. In a group of 100,000 people, 40% might like icecream more than chocolate. This segementation of sentiment can be reflected in the sales of ice cream vs chocolate. The same is happening with chart pattern preferences.
The below chart shows a Head & Shoulder bottom pattern which price could morph into. If so, the minimum price run is $19,108.
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Elliott Wave Counting Tutorial #2
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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.**
Bitcoin had a huge cup and handle pattern around 1k price where the cup was the the price from 2013 bubble to 2016 1k run and the it retraced in a big handle before then shooting up later in 2017
yes now decline is very likely .. & soon going to happen
People said that a month ago...and it lasted 2-3 days.
KABOOOM ! Game Units can't wait for a update!
Finally something about TA I can understand...ice cream!
haha, good one!
lol
what do you guys think about this?
Ive been looking at this for a while and I think its done now.
@haejin, I think you posted something similar a few days back and it looks like this has been very accurate so far. its been fitting the form alot better.
Also, its an ABCDE, yet its an upward pointing triangle? considering other alts, maybe BTC will go into a slight correction and allow alts to really shoot up alot?
Ive begin to notice alts are becoming a LITTLE phasic right now with BTC.
they're holding their ground. I think so because my portfolio didnt collapse when BTC shot up over night as it usually collapses lol.
Nice job keeping an eye on various possibilities. What happens at the end of your triangle will provide more information on where BTC is headed.
Hello Haejin, vedio is not available.
Guys, pay attention at PAY. It will have a nice move soon.
19108 target & resistance i feel based on charts 19800-19900
Two scoops please & Can I have some more?
Check out the patterns within patterns in STEEM...it will be unstoppable, especially as this is the smaller cup and handle.
PS: Learnt everything from Haejin's posts. Recommended books are ordered and will be delivered shortly. Thanks Haejin. Beer money is on the way to you.
apart from techincal .. fundamental says decline around XMAS , will sell rest of BTC & enter to TRON with full pace .. m not having patience to rise of BTC another 100% from price in next 1 month ,,, but TRON CARDANO & STEEM finally on my radar
Just sell all your BTC to buy BTS, thank you! :)
couldn't agree more
After this next wave for BTC BTG and XBC, I might just do that.
The best advice I have ever heard!