Bitcoin (BTC) Morning Update: Revised Impulse to $9,700

in #bitcoin4 years ago

SUMMARY

The wedge pattern seems to be completing with Bitcoin (BTC) trying to move up and out of it as shown in below chart. The overall larger Inverted Head & Shoulders remain in progress and the Right Shoulder (RS) is not yet complete and so price must reach towards the Neckline (white horizontal) to complete the pattern and then breach it to confirm.

I've updated the Elliott Waves. While earlier updates showed the current A wave position to be yellow wave 2; the correction has taken a wider scope but still well within an ABC flat. The blue five subwaves of C show that the correction could now be complete for yellow wave 2. This would have retraced >0.78 Fibonacci but IF the correction is complete; then the purple impulse waves should kick in and take a few days for that all important and critical juncture level of $9,700 to be reached.

The daily chart MACD shows the red circle area because the current white line can turn downwards. So, one has to be fully aware of this.

IF the MACD reverts back down, then the second yellow line support could be a new target with the blue arrow pathway becoming primary. However, we're NOT there so, just be aware of it for now.

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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¡Saludos! ¿Como estas? Resteemed tu post, gracias por la informacion.
soy nueva si puedes apoyarme te lo agradecere mucho.
Estas son algunas de mis publicaciones.

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kados, mados, gados, hados😂

Bitcoin prices still stuck in the mud between buyers at $8400 and sellers at $9200. Anybody who trades mins or hourly charts could of made money playing this range the last couple of days. I'm a swing / position trader and want to see price break the range. But the fact that price broke the daily trend line on 3/8 is an indication that price once to move higher...as you are pointing out as well.

Great analysis.
Appreciated.

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waiting for a rise

I think the lighting network will save the bitcoin. The two biggest problems the speed of transactions and the transaction costs will be so small that the bitcoin will raise again.
In my opinion with the Lightning network we can reach 60.000 USD this year.

Nice Content Men!!!

Thank you for this analysis and information! I'm still betting that I get to 9700 and get my profit. Patience and less anxiety! @haejin These analyzes teach me how to analyze ..

I think also that breakout might be very close. Like u said we can hit ~7500$ and bounce from there. U posting same thoughts or am I, argh!

But I keep this on close eye for a few days..

Great one man. It's better than haejin.
PicsArt_03-22-12.17.28.jpg

Yet another complete fail. What happened to NEO having "new all time highs" written all over it? Oh yeah, that tanked too, as expected and within my target range. ANY decent analyst could have called this.

He has been making brutal calls for months now. He can't hide behind a bull market anymore. Even then, people who followed his TA made less than people who did just basic research during the run. Yet people defend him when he gets flagged for posting bad TA orthe same TA over and over again and has his whale friends regardless of what he posts. He complains about bernie, they are both bad for the platform.

Just wait until a coin he has been predicting to explode again like BTS. He will act like some prophet yet he missed the timing about a dozens times.

WE ARE THE RESISTANCE!

You are bullied by @GrumpyCat on your post.

  • @GrumpyCat is flagging innocent people and calling them "collateral damage"!
  • @GrumpyCat is trying to impose his rules by using your SP on ones weaker than him!
  • @GrumpyCat has rejected all the diplomatic proposals we have brought so far!

@The-Resistance is here to stop this and protect the weaker ones from the tyranny of @GrumpyCat

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The Resistance

@haejin - the red circle MACD fractal you are showing was the bull trap at 17k!! Awesome buying signal that was, wasn't it??...incidentally, it was accompanied by a hanging man, which I think is quite representative of what happened after. So in short - are you leading us into a bull trap again Haejin??

He doesn't have a clue, he just makes sure he posts constantly to get as much $ from votes as possible.

What do you think about it

8D06FB6F-D3CB-4125-A707-585BAB8CA9E4.png

What you think about this patern @haejin ?

The triangle pattern could begin where your A is, so your b is the a etc. In that case we will have a D wave up then a E wave down and then the uptrend will follow.

Thanks for correcting me 😇👍

He thinks it's good and he wish you massive profits😂

solo son momentos coyunturales, propios del mercado financiero,influenciados por algun factor determinate, debemos mantener la calma y aportar lo que este a nuestro alcance para contribuir a su estabilizacion justa, sobre su valor de mercado real, donde podamos todos obtener el fruto de nuestros esfuerzos.

Thanks for your opinion, I use this post for Part of the consideration or input for decision making. Thanks

Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 135.00 SBD, based on the pending payout at the time the data was extracted.

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@haejin reputable sir can you tell me about cryptocurrency and its investment.

Trolls: learn how to trade so you can buy yourself a life... preferably elsewhere.

Ignore the hype, trust the chart... XLM work!

WHAT ABOUT THIS GREAT BITSHARES YOU PROMOTED? When will you take a stand on your shady calls?
For example CAT Coin? You pumped that coin, yet nobody knows anything about it. Every now and then you promote some random coin which is not even rank 1100 or so. I was such a great fan of yours. But you really become shady over the time .

He just did an update on BitShares a few days ago. BitShares is like top 30 coin or something like that. Stop being an idiot.

Bad day, huh? Someone yelled at You in a bus, so You had to spill some nonsense in comments to feel man again, right?

Calling Bitshares random coin shows how much You know about crypto. CAT and some other low marketcap coins are being requested by followers in comments all the time.

Grow up and spend some time learning TA yourself. It's really not hard to learn basics. And next time You get angry, don't turn on Your computer and maybe run it off.

On a positive note - when people in comments become increasingly rabid, it shows correction is almost over. In bull market, the same people will praise analysts. When they start to spam "I love You", "You're my hero", "Lambo" etc, it's time to start selling. Another good indicator is number of letters "o" in word "moon". The more You see, the closer hard dump is.

So where is the impulse? Any decent analyst could have called this, yet once again @haejin completely failed at his (who knows what number TA this is...) 40th-50th look at BTC. He hasn't been right about anything the last few months.

Yeah, you think with 10 different scenarios on BTC going at a time he would get one right? But then when he finally does get one right like SPR he brags, but what about all the missed ones. Bitconnect, Rain, Bern, I could go on for days.

BTS is a good coin, his calls were just brutal on it. He has predicted an explosion a dozen times since its last big surge. same with a bunch of others. I hold BTS but never bought anywhere near what he suggested was a break out point, those were just terrible calls

Exactly the same advice for You. Learn, even a bit yourself. Anyone who knows more or less anything about TA knows that correction retraces most frequently to the level of 4th wave of previous cycle, but can and often goes as low as the bottom of wave 2, sometimes even close to start of wave 1.

In this short correction we're in, it chose a deeper retrace. Nothing to add. No matter how many indicators You stack, one over another, You can only guess how deep the correction will go, so You choose the most probable (most frequent scenario).

If You knew anything, You would know that what's happening now doesn't change a thing, literally NOTHING in this particular prediction. The target stays more or less the same, the path is changing with time.

Impulse up is still due.

For future viewers: price of bitcoin at the moment of posting is 8492.00USD

- Disagreement on rewards. Flagged -100%

I am waiting for next TA

PicsArt_03-22-12.17.28.jpg

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