SUMMARY
Bitcoin (BTC) has turned down and is taking the lower low option as shown in the AM update. This down should be in a five wave move and I fully expect the lower blue line of the wedge to be temporarily pierced into a bull wick.
Here is the point by point wedge fractal comparison. The blue arrows should match up to the correlating white ones on the smaller fractal. I believe we are at the last white box zone where the v-neck should be put in.
Adding the MACD on this 4 hour chart shows it traveling within a contracting set of lines. The white arrow is projecting a dip for the price v-neck and then rise. Let's see how the rest of this fractal executes.
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Thank you
How far. Should trust in this analysis??
You should never trust any analysis - it's just point of view based on experience of particular analyst. TA is not exact science. Good, even great analyst will be right more often than bad analyst. That doesn't change a fact that all of them will be wrong at some point.
Follow more then one, but THE MOST important thing is, learn basics Yourself. Basic rules of EW and basic chart patterns are not hard to learn and train. Haejin and some other analysts in here even give free tutorials. Use them.
Believe me, knowing a bit Yourself is fundamental before using work of others. You don't have to study it for years. A few days of reading and training is enough to understand what Haejin and his fellow analysts in Steemit try to show You.
Never "trust" single analyst. Otherwise in no time You'll be one of sad people in comments saying You lost money because You went all in on someones prediction.
This analysis is very similar to Philakone and CryptoChoe’s, those two and Haejin are very good and it’s nice to see all of their primary counts align. Hopefully it’ll play out as they see it most likely to.
That being said, a lower low is still possibly.
Not at all.
TA has never been shown to be better than a coin flip. Haejin has been more wrong than that even.
And still here you are, spending time commenting his articles.... Ah the irony...
He is probably a masochist and enjoys it. 😀
Trä Me more Please !
You could be right...
https://steemit.com/bitcoin/@goldmine2018/possible-scenario-for-the-bitcoin
Nice work!
Thanx, it is already in progress ;-) $7990 now
If price can't hold the $7000, price will test the $6000 level which is the next level of buy orders.
this is great analysis.good work.
directive
We should see the bull wick touching the 6900~ zone, right ?
I hope you are right!
Keep up the good work! I enjoy seeing your updates! 💋
Let's say that lower low plays out and it rallies out of the fractal. We've now gone below that level of 7622, which you say "must hold". So is the implication that we get a bear market rally and head lower yet, taking out the February lows? What then becomes support? You say let's see what the price action brings, and then give us your thoughts. Can you comment now?
im going with financial freedom with this one guys. he saved my bankroll when he got me into cash early and he is preaching 3500 and then wycoff accumulation zone for some time.
im with @kvammel
Who is preaching 3500, as last support you mean?
he just copies Haejin, gimme a break. Haejin's called bitcoin almost perfectly.
You're probably fake accounts made up by financial freedom.
piss off idiot.
RPR
You may not want to see it, but be aware that a long-term downtrend could come.
https://steemit.com/bitcoin/@goyapro/bitcoin-btc-update-ema-dead-cross-a-red-alert-for-bitcoin
Coins mentioned in post:
haha i know ...
Well, he makes ton of money posting :) I would say that is a good motivation.