Bitcoin (BTC) Evening Update: Pathway to $12,482

4년 전

SUMMARY

Note: Returned later than expected from traveling. I will start posting video updates tomorrow.

Last night I had posted the below chart showing the wedge pattern with re-drawn upper and lower lines. Also, rather than being labeled as a diagonal, the decline since $20k was Elliott Wave designted as an abc ZigZag. The final C wave was to likely continue to a lower low. However, a price Breakout well out and beyond the upper red line would be an ideal signal for a bullish trend reversal. It would be favorable if overnight price action can make trend line towards $9k.

Here is how that can be detailed. IF price completes the inverted, bullish Head & Shoulders patern, then the minimum price travel can be measured at $12,482 or so. This target is acquired through minimum price projection by measuring the distance from bottom of Head formation to the Neck Line (horizontal blue line). This vertical line is then placed above the Neck Line which shows $12,482. How could this be feasible? It needs to first start with a decisive breakout towards $8,995.

Legal Disclaimer: 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
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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BTC/USD

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Breakout

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solisrex is haejin's best and royal fallower.
It's their way of communicating.

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solisrex is haejin's best and royal fallower.
It's their way of communicating.

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Can't you set up your own shop? Your charts are really annoying.

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Hi Solisrex sweet heart.
I think salahuddin2004 learned the lesson.
Thank you so much that you stand up for haejin.
We love you and thank you.

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I am so pleased Haejin has an Angel to look after him.
Always, at your service.

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Hey Solis, for the length of wave three, are you using the chart pattern line to start the fib? It looks this way, but I just want to be sure:) Thanks in advance!

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Trend-Based Fib Extension

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Nice illustration! Still getting used to TradingView a few months in. This kind of thing is really helpful

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Not helpful at all.

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Do you use Tradingview? If not, I strongly recommend it, and it's free. What the image shows is this: From the left-hand menu, click on the icon shaped like a pitch fork. This brings up a menu of icons, part of which @solisrex shows. Select Trend-Based Fib Extension. Once selected, click once at a local bottom, so the bottom of wave 1. Click a second time at the top of Wave 1, and finally, click a third time at the bottom of wave 2. This lets you predict potential levels for wave 3. This is often at the 1.618 extension, in line with the circled wave iii in the image above. It can also be 2.618, 3.618, etc. This is an easy way to pick out some reasonable price targets. Hope that's more helpful...

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Agreed! I'm looking for a good training video on TradingView; I've spent a grand on 2 years for their most-comprehensive package, but I'm really only scratching the surface. Any pointers appreciated!

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Thanks Solis! Very cool tool that I had no idea about. Much appreciated:)

Everyone please stop feeding haejin money! if you say that ten coins will rise a day obviously your going to get a few hits in this lucrative market. He makes multiple posts a day accumulating over 300 dollars a post. We need to stop feeding him money because all he does is decimate the reward pool and doesnt care about steemit or steemians! NO MORE HAEJIN

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thanks. upvoted. Please upvote and comment my blog if you like

Bitcoin and the alts seem to be stuck in a narrow range. Looking for the news to cause the next breakout....either way.

thanks for your info

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Why Cryptocurrency Investing is a Terrible Idea WARNING: ONLY READ IF 18+ AND ABLE TO HANDLE THE TRUTH... GRAPHIC LANGUAGE USED https://steemit.com/bitcoin/@investingtips/why-cryptocurrency-investing-is-a-terrible-idea-warning-18-only-graphic-language-used

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Yeah. This information helps. I think in few more days the drift will be more conspicuous. Nevertheless, it's just about been this is just an enthusiasts/expert opinion and not what will necessarily happen. But great info up there.

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Maybe but what he really should be reviewing is hummus. I think hummus will be big. H U M M U S!

Such a exciting time to be alive! BTC will surge, everyone is waiting on this confirmation. It can go one more lower low to shake out the noobs but since I've been in this since 2013, I know BTC will never die, just your investment will multiply...Let's GOOOOOO!!!!

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looks like one more lower low ... :(

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Agree...looks to go down to 7800 then bounce then, if go lower, it will take while to go up past 7800.

good news! I love it

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thats just a possible scenario. doesn't mean its going to happen. More analyst have talked more about a retrace back at 6k or lower!! And then Bulls kick in

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Bulls just need to read Haejin's post and they know what to do. 😈😂

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so, this crypto and bitcoin is just a gamble. Its a beautiful thing. A global gamble where the world is playing. All the money in the world is being played.

Even the poor and even the rich can become rich or poor. There's no logic, you just need to get lucky enough to be with the flowing tide.

The creators have made it smartly, smart enough that there is no logic, its just playing on news and big investors actions.

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Well,i kind of agree that it's a gamble but then it's all relative. Life's a gamble each time we wake up from sleep and eat anything we didn't control the ingredients of.
It's based on math and seems fair and smart. True,the charts have no logic like any financials.
The more we learn,the better we stand a chance at this game and DYOR. Good luck mate :)

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Agreed bro.. The math is just to mine the coins.. But prices are merely a gamble.. Its fun.. U b a millionaire or u b a beggar.. That also just at a click ;)

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My version's slightly shorter: "Every breath is a gamble." :)

I think there's a logic in the charts that I didn't perceive, six months ago. I really love Elliott Wave study.

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Lol. I diggit. Found elliot waves too confusing until i tried harder and it makes a lot more sense now. I check you out bruz. Thanks for encouraging @libertyteeth

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I don't think there is so much accident in this game... There a some big guys playing the puppets with tether, bad news and a lot of money (like spoofy).

This will probably drive the other alt coins up as well, thanks @haejin!

Good theory haejin. So when do you think BTC will break pass 9K by this time tomorrow?

Upvoted....if goes below 7800, looks like it will continue down ( by this Friday) then, rebound up again to 7800 and consolidate and go up by the next next monday....just my opinion.

@Haejin, do we have enough volume on the right shoulder to confirm the inverse head and shoulder pattern?

This just in! All Cryptos are flat lining until the end of the month - ALL TAs deemed worthless

Very nice! I'll be watching the movement closely over the next couple days. Fingers crossed for movement towards 12k

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thats just a possible scenario. doesn't mean its going to happen. More analyst have talked more about a retrace back at 6k or lower!! And then Bulls kick in

great article @haejin

Thanks Haejin for the update!

Amazing technical analysis...

YES,Let's see...

Hi, great post, worth a follow. Looking forward to some more of your stuff.

It seems Bitcoins volume seems to be dropping which is a concern to me....its possible Ethereum or XRP could dethrone Bitcoin soon

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The drop in volume lends more to the reverse head and shoulders case. Volume should be decreasing when you compare the left shoulder, to the head, to the right shoulder. And to the right of the right shoulder, there has been a slight volume increase. We need this to pick up as the price goes higher to make it to $12,482.

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Some one else stated that Eth or Xrp could dethron BTC as early as 2 months.

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What you need to invest in is oxygen as it will always be needed. Start hoarding as much oxygen as you can👍

Sounds goood

good news
thanks for
this news

Thanks haejin!

  ·  4년 전

Nice post friends

Thank you, Cap!

Thanks for the analysis!

오늘도 좋은 정보 잘 보고 갑니다.
매번 눈팅만 하다가 댓글 달고 가요^^
Thank you.

think I'll take this one that time :D

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Over priced Hyundai.

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haha true, cars are always overpriced in my opinion, it's better to spend the money on food and family than in those toys

Head and shoulders can only be confirmed once the price target reaches up to a maximum of 3% from the neckline($8,995) no?
That's 3% of $8,995 = $270

So target to confirm Head and Shoulders is actually a H+S, we would need target to be $9,265($8,995 x 1.03).

I am so new to this its not funny but just going by those books Haejin. You probably seen enough to be able to confirm now, not being rude or smart here!

Awesome post! I invite you to visit our blog and vote us back! And of course to enjoy our content :)

Imo the strong pressure is from the EMA 20 which BTC has NEVER breached since the beginning of the downfall at 17k. And the EMA20 is now around 9,250. A breakout with volume above 9,250 followed by a retest where the EMA20 turns into support should pave the way for 12,000 I believe.

So basicly HODL , w8 and see what happoens

👍👍👍👍👍

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thats just a possible scenario. doesn't mean its going to happen. More analyst have talked more about a retrace back at 6k or lower!! And then Bulls kick in

Sir @Haejin I want to work on behalf of you who will post and comment against me. I'll flout them. Sir, I post a comment against you and I regret it. Sir, I have no steempower to give me some steempower delegates and if I post and comment You give me a vote there so no one can harm me. Sir, would you allow me to work with you? I wish your people to work

thanks for your info

Very nice info, thanks for the job!

Btx need to test 7200 to reach up side i fink

it is really a roller coaster rider nowadays as one day we are at the top while another day we find ourselves at the bottom. the market is quite unpredictable nowadays and all we can do is to just fasten the seat belt and wait

Great Post ...

Why you flaged me again?
Did I anything wrong?
I know you are more powerful but You have no right flag anyone without any reason.Just I made a meme about SBD. I didn't mention you there. Then why you flag. Just stop it @haejin. I just abused you once but you flaged me 3 times. It's waste worth than $67+$67+$67= $210 SBD. 210*4= $840 USD. It's too much @haejin. A family can eat 2 months with $ 840 in our country. Please don't waste this. Try to helpe people. I want to get a 100% upvote from you for back my reputation.I like to resteem @emma28's blog because sometimes she helped me with send some SBD. I will not resteem @emma28's meme. promise you. please don't do this with me. If you give me an upvote I will very happy. I will never abuse you again, promise.
I did unfollow @emma28. I am not too rich. I am earning some money from here and I have to run the family with this money. Please don't flag me.
N:B: I am not good at english, sorry for my bad english.

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@haejin, I will not same mistake again please remove your downvotes. I want to get back my reputation.
1: 1st link
2: 2nd link first comments reply.

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@haejin please consider.
Please remove your downvotes and give me a upvote to increase my reputation.
I promise, I'll never abuse you.
I am waiting for your reply.

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@wookingdom and @nilonn
Why flaged me?
I do not want to engage myself with this war.
I've lost many of my reputations. I do not want to lost more reputation. Please remove your flags.

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@akandadelwar. Learn and you can earn money by trading.

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very interesting info
I will wait for the next posting
and allow me your full info

How to calculate the minimum price projection is one of the most useful info for my trading. Thanks Haejin. I have been using this in a shorter time frame and make short term trades successfully. My suggestion to some is that you got to know what info is helpful and what is crap. You got to be selective, too much info will choke you. For those clowns who waste their time picking on someone, you are missing out on some good trades. If someone has to come here to promote him/herself, you are not good enough to stand on your own feet.