Bitcoin (BTC) Evening Update: The Right Shoulder Formation!!

in #bitcoin6 years ago (edited)

SUMMARY

The Fractals are still in play. Earlier in the day, I had posted the below showing that the abc could end with five subwaves for wave C. The white waves 1,2,3,4 were nearly complete with 5 to go.

Current price shows that wave 5 completed and a bounce is now in progress. IF the fractal holds, then the white line price pathway could provide potential guidance.

I'm still keen on the Inverted Head & Shoulders. Take a look at the intersection point between the larger upper, purple trend line and the blue Neck Line. That point was precisely where price had been repelled. The freehand drawn white line shows the potential attempt to complete what should be the Right Shoulder (RS). This would complete the pattern and so confirmation would remain which would be price breaching the Neck Line. Let's see how the overnigh price action takes this pattern.

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.

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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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Half way through TA of Stock Trends book, Haejin I need another book recommendation!

Hey haejin...i tell you what...you are a monster...real monster...who destroys the account of newbies here. I have done nothing but said truth on your post and you destroyed my reputation (steem)... real one you cant even touch...
NOW YOU STARTED THIS...AND I WILL PUT THE FULL STOP.
fuck you and your pathetic fools who wander around here with no clue...just greedy people like you...they want to be you...they treat you like crypto God but u r an asshole... YEAH no one can predict BTC and i know what you gonna say now..."but i don't predict it" but these assholes here wandering to get a signal to trade and they will surely one day put blame on you of their losses...bcoz BTC don't listen to your father...and you set targets which can be changed or are very long so that you prove right...bloody ******* when will you ALL understand crypto... OH YOU CAN'T...NO ONE CAN...YOU CAN'T UNDERSTAND IT....99% PEOPLE CAME INTO CRYPTO TO MAKE DAMN MONEY......ONLY ONE MOTIVE....GREEEEED. THEY KNOW NOTHING ABOUT IT WHAT IT IS....INFACT NO ONE ON THIS WORLD TRULY KNOWS...IF I ASK ONE TO FULLY EXPLAIN CRYPTO AND BLOCKCHAIN...THEY WILL PEE IN THEIR PANTS....SO HAEJIN. You are nothing without these fools....and carry one everybody...until you lose up everything.
https://steemit.com/cryptocurrency/@thereaper1233/haejin-destroyed-my-steemit-account-evil-monster

Ohh great not you hide my post by DOWNVOTING it also...GO AHEAD...SUMMON FULL FORCE...YOU CAN'T DO ANYTHING MORE THAN THIS..THIS IS YOU..SUCKER!!!

I am ready. Thank you very much for sharing. Upvoted and Resteemed by @cryptoryno33

Tired of all this BTC news, so much manipulation happening behind the scenes.

very good post

I always read your post carefully~

Another buy opportunity coming up?

I hope so. But I am not optimistic yet.

very interesting. upvoted!

Great share! it does look like there's a buy opportunity coming up at-least that's a bright side for when it goes down :) but i always have faith that it will go back up. Crypto is our future!

elated & fantastic!

Price reacted to a 4 hr demand zone at $10400 today. In order for price to continue higher, it must get through a stack of sell orders at $11000 and $11600 as indicated by the red circles. Price came within $28 of my 2nd ($12000) target yesterday. My 3rd target still remains $17000.

wow good post... i want to invest in bitcoin but i can't understand properly...
by the way i upvote this post..thank you.

If you are learning, you are at the right place. Haejin has a lot of experience on charting, and I have found his predictions to be excellent.

Is it just me, or has BTC slowed to a crawl?

It all has to go through the process. The movement in December and January was so rapid it will take a lot of time for the market to digest and recover confidence. I think recovering from $6k 2/5 to ~11k now is not slow!