BITCOIN (BTC) Update: Rising Near Vertically...PARABOLIC!!!
SUMMARY
BITCOIN (BTC) is going VERTICAL! When anything goes vertical, I sit on my hands and watch. I don't buy, I don't sell....I watch. From history, there is not much happiness to be found in parabolic moves as they often don't end well. It is during these instances when discipline is paramount. The emotional maturity to see beyond the FOMO and know that better buying opportunities lie ahead.
It is better to be out of the market wishing you were in it than in the market, wishing you were out of it.
Below is my micro-Elliott Wave count trying to capture high resolution price moves. I've drilled down to as low as 5 minute time frames. The video has more details.
The red line above the MACD indicator display a lower low while the short red line on the price chart show a higher high. This is a negative divergence.
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
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.**
I don't believe in an extended flat anymore. My target until the 25th is 7000$ for the completion of this impulse and possibly wave 5 of big wave 1.
OK
Hi - Do you mean completion of wave i of the final Wave 5?
thanks
$100 billion market cap for BTC in the next couple of days. Exciting times.
Dangerous Times
It's not dangerous if you've been in the crypto world for years. I've been through many bumpy roads and cryptos always come back stronger. If you see big dips, take advantage and buy more. You will be happy in the long term. If you're a trader...than that is a different story.
This is why you are the best @haejin. DROPPING MAJOR KNOWLEDGE. LISTEN TO THIS MAN! You're not better at this than him, sorry.
Starting to be even more paraboli than it already was. I posted a weekly chart with some levels if the movement continues which is doubtful (even though I have been wrong many times).
Exciting times whenever Bitcoin goes crazy, but I'm wary of steep vertical movement. I think this is connected with the incoming launch of Bitcoin Gold - everyone is accumulating BTC in anticipation of easy profits.
Also - if you're holding Altcoins - please don't panic sell. What goes up, must come down ;)
i hope so, man. but there are two forks ahead!
also, it's quite possible they will just cash out of the market
Are you low on STEEM POWER, haejin?
The Voter with the lowest STEEM POWER receives a small gratitude, 5% of total payout, from my post. Spread the word. Or keep it a secret. It's totally up to you. See you in 7 days!
Great post, I appreciate your work, I'm a 20 years experienced trader from Italy, I leave you my upvote and follow, it would be an honor to have you among my own followers!
THANKS SO MUCH!
I must say I have the same attitude. I can only see a bubble here. It might go back to 4000-5000$, the question is when is it going to go back to it's actual (artificial?) price.
Thanks again Haejin, I'm 90 percent on the sideline watching now, all but one ladder picked up on the overnight action where I live.