SUMMARY
Yes, BTC has breached and thus far stayed above the upper white line of the very large wedge patternn. This adds to the bullish case, no doubt about it. The condition still remains that the former resistance and now support must hold. Price is expected to bounce off the upper wedge line and continue upwards towards $9,451 target. I've labeled the abc correction and it's either at the completion of the C wave of the minor correction or a little more to go (C?).
I had shown the below chart last midweek. It will be in play should the upper wedge line not hold as support. It's important for all to understand that $5,200 could be a potential should that support not hold. This level of awareness is key as it could augment one's due diligence. For those without cash, perhaps farming for cash could be helpful into the current bounce. Why have cash? It allows an immense degree of empowerment during corrections of this type to be abe to buy the lower lows. Without cash, such actions are not feasible and so the correction becomes more mortifying. IF in possession of cash, frugal deployment is key as usually, my starting 15% of portfolio cash remains at around 7% even after the correction is complete.
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RUNNNNNNNNNN
So... if it drops directly without any sideway movement target is 5k.
But if it fallows the fractals... , and it should because i can see a lot of people in denial right here :
it will drop later. It may drop right now to 5k but i don't think so...
so... if it will drop later and keep tha angle of the previous drops.... and THE distance in time seems somewhat equal ... hmm a better word is "proportional" with the last 2 drops
target is?
look at that... coincidence?
sooo if history repeats target is a little bit lower....
We should ask BTC whales what they have in their mind.
$4200 to $3800 IF the lower low comes.
$3,000! It’s worrying how credible this looks.
THREE Possible Futures for Bitcoin! Which one do you think will be true?! https://steemit.com/bitcoin/@investingtips/three-possible-futures-for-bitcoin-technical-analysis
Now how does that Dolly Parton song go.
Shorting 9 to 5, what a way to make a living …
Or as @haejin would call it. The Jaws Of Death.
LOL! I don’t short Bitcoin.
thank you @haejin but at what price can we consider it invalidated and a the bearish scenario becomes primary?
I was looking at it earlier and thought similar to what you thought...but are you saying that if BTC falls below 8100 it becomes a bearish for primary?
It did shoot down quickly to 8045 on some exchanges at the time you posted. how strict is it about staying on top?
Thank you
It's 8080 now on Gdax. Next resistant around 7k
houston, we have a problem
I laguh so hard, almost hysterically because I also wanna cry xD
lmaoooooo me too bro, me too. were all about to get KO'd by the markets. I cant take a punch! 😰
Then sell and buy lower girl
lmfao im not a girl, ma'am
I rather using CoinGeko and it's starting an uptrend, it's a little more hopefull there, let's just wait for the korean exchanges to keep a bull trend, I always hope koreans don't blow things up ._.
Koreans are the BEST! they keep the markets up... plus haejin is Korean lol. Gotta love them. Haejin has made me rich and im 21. well... on the way to becoming rich.
@haejin if youre reading this I love you!💙
Actually I was trying to make clear that asians market tend to establish markets, not the other way around xD
lol oh, sorry for misunderstanding :)
lol, not true because I am Korean but I am watching Crypto and will for days to come. Korean and Chinese New Year coming in? I am watching my cryptos.
nice! happy new years!
is this possible?
sorry. don't trust binance count. It stopped for 2 days.... it's missing pices.
This is my primary prediction right now. A slight correction but then back upwards. I still believe we are in a larger correction and this uptrend is wave B of a large ABC correction so we should see prices above $10k again but then price might drop down hard to like $3k again before making another bull run to $50k+
It is still weak. A drop below 5000 is highly possible this coming week.
It seems to me the 38.2% retrace at about $7900 could be a logical turning point that has not yet been hit. Thoughts?
you can not count the subwaves! it's a shit ton of overlap!
Exactly the same question on my mind!
FIRST!!!
here comes the upvotes!
😍
Also upvoted and resteemed. lol
Bulls vs. Bears...who will win...we all will with @haejin 's advice. Just watch BTC like a Hawk or a bear will try to eat you...
Can wait for the price to breach 2/1 for bear confirmation. Conversely if it creeps back up over the 1/1 this could infer continuation of 5 day uptrend.
Very nice Fan lines!
Im 50/50 but inclined to lean toward your alternate count. The alternation of the 4th larger corrective wave from wave 2 makes sense.
Hello @haejin. I've been following your TA for a while and I would really love permission to translate to French for the upcoming French community. It would really be of great help.
Please only resteem
@haejin Have you seen this site?
https://www.cryptohearsay.com/author/haejin-lee/mcryptoco
cryptohearsay.com P.O Box 30425 S.I N.Y 10303 U.S
BTC is still weak. The correction might not be over. This is the first time since 2015 that BTC-USD has dropped below the 200 EMA. Plus, there is a noticeable drop in overall volume since the price bottomed below $6000. There is lack of buying interest from big money folks and institutions. A continuation of bearishness is possible. A common sign of bearish continuation is a brief rally followed by diminishing volume. I'm looking to buy at between 3000 and 4000 if it continues to drop.
They are waiting for the right price. So, we should wait for the lower low to come.
HODL all the way!!!
i've looked at the wave 1 and wave 4 very closely, and there's a tiny bit of candle wick that overlapped.
Thank you haejin for update.
Can you please explain why the white line of the very large wedge patter is lower than others are putting it?
Its an alternate count.
This is very important point in 8,000.
If enduring, go to the moon.
If not, go to hell.
really confused about the bitcoin price. nice analysis bro. thanks for updating us
Hi Genius People here. is it a good time to bUY Bitcoin?
No. Wait til it drops to the low 4000's
ha ha ha.. lol
Bear flags all over again
a nice analysis ... ... ... ... ... do not forget to upvote I @salyannur
Bullish move up here we come! Daddy needs to get back to even 😒
I see a consolidation next week with the bulls trying to make gains. Everyone is predicting that Bitcoin will make record highs this year. Fingers crossed.
Hi Haejin,
How do you farm for cash?
I sell all my short and mid term coins when btc was around 9k now i can buy 20% more for same cash.I can figure how much i will multiple coins if price go around 5k. I expect 50% more coins so that is best scenario for "us".Or u can HODL and wait btc come back whatever if you dont want to risk just hodl.BTC THIS YEAR WILL BE AROUND 30K+
Go work to the gas station and come back in 20 years
Cool Post. Since you got the bitcoin tag do you have a prediction for Bitcoin over the next few days? Also followed you for future posts :)
Future posts will show
So, BTC more likely to be bearish or bullish these coming 3 days or so?
Btc all record changed
I agree with you! But This is crypto! I am afraid.
주노님 짝궁이 해진님이시라기에 조심스럽게
인사드리고 가겠습니다.^^
올 한해도 해진.주노님 가정이 무조건 화목하고 또 화목하시길 바랄께요.^^
SECOND!
Sir upvote and resteemit done