Bitcoin (BTC) Morning Update: Three Touch Points!steemCreated with Sketch.

in #bitcoin7 years ago

SUMMARY

Bitcoin (BTC) overnight price action was indicative of a rise towards the d wave of the a,b,c,d,e correction. The below chart shows my price projections...yes, bullish! The $26k and $30k targets remain solid.

I'm still keeping an eye on the a,b,c (bear flag) alternate and the key is, as stated in prior blogs, that if price reaches around $18,300 or so and reverses, then we might have a different story. However, again, this is my alternat and NOT my primary count.

Here is the other concept that I find very interesting. Note how price touched the top line of this Jaws of Wealth three times and price also touched the bottom line three times. This is a type of fractal on behavior and not pattern and it's also quite accurate. To that end, this Jaws of Wealth also jives well with the primary a,b,c,d,e triangle pathway. It's important that BTC starts putting in higher highs! Let's see what happens in the coming days.

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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--

If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf


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.

Sort:  

Looks like BTC is ready to resume the run!

I keep expecting a BTC bull-run, but I'm reluctant to move more of my portfolio into BTC because I'm making some pretty good gains vs. BTC lately... Decisions decisions...

If I made a profit against BTC which covered my fees in both ways and still left me with gains, I would have exchanged back to BTC due to expectation of correction because BTC is not inflationary.

This comment has received a 11.04 % upvote from @steemdiffuser thanks to: @stimialiti. Steem on my friend!

Above average bids may get additional upvotes from our trail members!

Get Upvotes, Join Our Trail, or Delegate Some SP

Do more mining and you'll be much better off. More secure investment and good returns.

Please direct where I can find help/instructions/literature on mining. I am eager to began mining.

We joined a very successful and stable group. Send me a direct message on my Twitter account or a message on FB and I'll get back to you.
Twitter: https://twitter.com/3arabiSouri
FB: https://www.facebook.com/profile.php?id=100018002822192

Although it might not be (or might be) profitable depending on your computer and graphics card, I would say the best thing to use is miningpoolhub.com. It first benchmarks your computer in several different algorithms, and the selects the best one to use. Just follow the how to guide on the site. I hope this helps!

Good. Thanks for sharing alternative paths.

First :)

Get rich by saying first :)
I posted this Bitcoin - BTFD - Can we see the Light(ning) coming? yesterday, but I think I might have been a little biased as I was excited because some LN fundamentals..

Thank you Haejin! Take also a look on my TA for the longer time period. Thanks in advance!

Bildschirmfoto 2018-01-13 um 14.55.52.png

https://steemit.com/bitcoin/@vonbuelo/bitcoin-btc-elliot-waves-bull-cycle

bring it on!! :D love the analysis

If it breaks at half way to point D we have an increase in chanse of being a triangle. :)

1

Thanks to your analysis I've felt safe to invest a little bit of money, thank you! Also i've been studying really hard Elliott theory. I posted earlier about this two coins that I think are very intresting.
If you'd like to register please, consider using my invitation code 23f8K
Kucoin Shares

Red Pulse

The first one is a bear flag I believe so it will correct and not go up.

Yup, It corrected I'm still waiting to enter again since I'm not sure what pattern it's doing. Just for me to learn, what was your observation to tell it would correct?

Thanks @haejin, I think the bullish run will happen, we need that to get to 1T overall market cab that everyone is waiting for it. :)