SUMMARY
Note: Tons more details in the video analysis!
Bitcoin (BTC) price action is looking very healthy. Yesterday, I had posted the below chart as a projection:
This morning, price has adhered to the projection quite well. Not too shabby.
Because of passage of time and new price data, I've slightly updated the Elliott Waves. IF wave 3 (circled white) is in progress, we can expect to see some serious, near vertical type of price moves.
The Inverted Head & Shoulders (IHS) is now complete! Price has also just breached and poked above the Neckline! This pattern is nearly confirmed and if that breach becomes decisive then the IHS is in full effect. So, very exciting days are ahead of us!!
Awareness Count: IF I had to be bearish, it would be as shown in the below chart. This is NOT my primary count. It's my awareness count which I rarely post given the confusion it arises. I've often said that awareness keeps the panic away. That means that awareness also keeps the broadside shocks away as well. Being fully aware of alternate scenarios allows one to know what to do should such events transpire. Yes, I know that cynics and the uninformed will call this wishy washy...but the informed see it at a higher level.
The awareness count shows a potential abc (white) retracement. The small upward pointing wedge is something to look out for in that it could lead to the red (b) or a larger degree of decline.
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.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Here we go! Exciting times.
thanks bro
My thoughts exactly!
the fundamentals are stronger than ever. LN paving the way for marchants while institutional custody service will draw wall street money . Thats quite a money. Its protein on steroid combo.
I also hope so. Bitcoin recover very soon. What can I say about you, always good.
Thank you Haejin.
I believe that Bitcoin will more than recover soon. It may take a little bit more time, but I feel that we will see some great gains in the next few months...and stable gains too. I also think that we will all be happy by the end of the year if we took the advice from many and decided to #hodl all of our #crypto!
Absolutely right dude.
Update BitShares?
$300
To the Moon. 🚀😂
Yes please. I’m assuming it’s doing what the other alts are. Just being delayed to Bitcoins recent uptrend. Hopefully BTS follows soon. Just have to be patient. It will be over $1 probably when we least expect it so just hodl
Let’s hope so
Why did you include altcoins in the tags?
-What are altcoins?
Yep, after some terrible fall in less than 100 days, this change looks very promising. One of my friend also said (after studying 5+ exchanges movements) that even Ethererum will rise to $ 20K by the 4Q 2018. Thanks for the effort and sharing this @haejin.
Let's hope so that there are great days ahead for the crypto world. Anyway thanks for keeping us posted. :)
I think that in the long-term the price of BTC will fluctuate around 10k. Maybe around 12k, it's difficult to estimate. But the point is, the price will not grow but fluctuate.
Primarily you must realize one extremely important thing. Of course, we are in the crypto bubble. Imagine the situation when every speculator sells his crypto coins (BTC or whatever) and only people using coins for real transactions (paying for goods, services,...) stay on the market. The price would crash immediately. Do you need to sell all of your coins? No, of course, don't do it! But you must be aware of this truth. So the most important in this bubble is that you believe there will be more people willing to buy coins. -> and according to bitcoin sentiment it seems like a probable scenario in short-term.
Everybody seems to have an opinion. Do your own due diligence.
Yeah, exactly
before it`s empty, I wish my effort will be worth aiming my vote has a value. got only 15SP
Not shabby at all!
Hello,
Posting both bull and bear scenario is perfect! so one can have both sights of what could happen. For me I am not sure yet which one will come true... I am guessing bearish... but staying out for now...
that awareness count really helps. thanks!
Thanks for the post, nice analysis!
I do hope Btc sees a recovery soon; however, I fear that this might have a negative on the altcoin market. Btc dominance slowely but surely going up again. What is your vision on this, do you think the potential rise of Btc might lower the altcoins or will it find its balance after the possible incline?
wow bit coin is very exciting.
such nice perspectives, I like the way you analyze btc. Btw, I have analyzed btc using probability, and the result is nearly similar to your analysis result. Here is the result of my analysis :
If you interested in my detailed analysis please proceed to my recent blog post, you could click on the picture above. Thank you.
OMG update please!
Amazing
Very good prediction which is very helpful for us. Btc really on bullish trend, though having lots of resistance. But I believe ultimate goal of btc above 50k within this year.
What a nice post, thanks for sharing
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I remain skeptical @Haejin, here's why:
https://steemit.com/bitcoin/@stew/until-we-hurdle-11-8k-i-m-still-bearish-here-s-why
This chart and analysis is right on the money. Don't forget to include market confidence as a MAJOR part of the factors. Unlike traditional securites, the charts do not tell you about the consumer emotional disposition on a crypto, and that can have more inpact than anything.
yeah right now it look like a bull flag need to breakthrough the previous resistance $11,785 after $12k.....
v nice input keep it up..
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Looks good, will set up some ladder buys.
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There is just ONE thing I am really interested in: WHEN will a developer create a coin one can really use to PAY with ! a coin which I can receive and send without the fear it might drop down 500 % or everybody keeps it back hoping to make a fortune. #BTC were created for decentral production and a decentral market and what became of it? one more gold-digger project of a few who could afford mining machines. this is not what I expected and Millions of others with me. So WHERE is THE CREATOR of a REAL coin we can use for purchasing on markets ??
Stellar TA as always haejin....cheers friend
Every post you make is very beautiful - I want to know about Bitcoin rate now What do you say?
Smiles Ahead!!
Hopefully segwit and lightning network play there role as defined.
Ahhhh, the old "awareness claim". Which technically means the price could go either up or down.
And the outcome from @haejin's prediction that price could go up or down was .....
It has trended sideways. LOL. Gotta love TA. So insighful.
That's obviously hopeful!
Do you think expectations are influencing graphs or graphs are creating expectations?
I'd love to know your thoughts.
Thanks for the article.