Bitcoin (BTC) Morning Update: Three Touch Points!
SUMMARY
Bitcoin (BTC) overnight price action was indicative of a rise towards the d wave of the a,b,c,d,e correction. The below chart shows my price projections...yes, bullish! The $26k and $30k targets remain solid.
I'm still keeping an eye on the a,b,c (bear flag) alternate and the key is, as stated in prior blogs, that if price reaches around $18,300 or so and reverses, then we might have a different story. However, again, this is my alternat and NOT my primary count.
Here is the other concept that I find very interesting. Note how price touched the top line of this Jaws of Wealth three times and price also touched the bottom line three times. This is a type of fractal on behavior and not pattern and it's also quite accurate. To that end, this Jaws of Wealth also jives well with the primary a,b,c,d,e triangle pathway. It's important that BTC starts putting in higher highs! Let's see what happens in the coming days.
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Looks like BTC is ready to resume the run!
I keep expecting a BTC bull-run, but I'm reluctant to move more of my portfolio into BTC because I'm making some pretty good gains vs. BTC lately... Decisions decisions...
If I made a profit against BTC which covered my fees in both ways and still left me with gains, I would have exchanged back to BTC due to expectation of correction because BTC is not inflationary.
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Do more mining and you'll be much better off. More secure investment and good returns.
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Good. Thanks for sharing alternative paths.
First :)
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Get rich by saying first :)
I posted this Bitcoin - BTFD - Can we see the Light(ning) coming? yesterday, but I think I might have been a little biased as I was excited because some LN fundamentals..
Thank you Haejin! Take also a look on my TA for the longer time period. Thanks in advance!
https://steemit.com/bitcoin/@vonbuelo/bitcoin-btc-elliot-waves-bull-cycle
bring it on!! :D love the analysis
Thanks!
If it breaks at half way to point D we have an increase in chanse of being a triangle. :)
Thanks to your analysis I've felt safe to invest a little bit of money, thank you! Also i've been studying really hard Elliott theory. I posted earlier about this two coins that I think are very intresting.
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The first one is a bear flag I believe so it will correct and not go up.
Yup, It corrected I'm still waiting to enter again since I'm not sure what pattern it's doing. Just for me to learn, what was your observation to tell it would correct?
Thanks @haejin, I think the bullish run will happen, we need that to get to 1T overall market cab that everyone is waiting for it. :)