SUMMARY
Bitcoin (BTC) overnight price action has brought what looks to be a nice bounce. The MACD at daily scale looks to be curling upwards and could indicate a turn. As stated in prior blogs, this level of stretching of the MACD "rubber band" could not last forever.
Thus far, the price bounce fits well within the contracting lines of downward pointing wedge. The chart below shows what needs to happen to indicate if the a,b,c correction is complete. The upper white line needs to be breached through an impulse set of five waves as shown. There is a bit of heavy resistance as demarcated by the blue rectangle.
As an anlyst, I'd prefer to see a lower low as shown below. If the wedge pattern becomes complete with the final e wave, the pattern reflects far more bullish potential. My buy ladder region is depicted below. The video has tons more details.
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Looks like when it was under 10k it was the bottom.
I believe the bottom will be the $8k psychological level honestly, if it goes below there then I can't lie I will lose confidence in Bitcoin totally.
This is what I wrote 4 days ago. The correction is near the end. I invested 100% of my bitcoin budget with prices of under 10k now. Maybe there will be a last lower low. But this level ist still a very good buy.
https://steemit.com/btc/@vonbuelo/bitcoin-btc-correction-near-the-end
BTC will climb back to 20k in the near future
@jahejin very solid analysis. It is a pleasure to see these types of observations, unusual patterns, etc.
Congrats!
@jahejin very solid analysis. It is a pleasure to see these types of observations, unusual patterns, etc.
Congrats!
I share with you my chart
https://steemit.com/bitcoin/@thomasawa/the-btc-and-its-possible-corrections-before-following-with-the-b-r
https://steemit.com/bitcoin/@thomasawa/the-btc-and-its-possible-corrections-before-following-with-the-b-r-update
I share with you my chart
https://steemit.com/bitcoin/@thomasawa/the-btc-and-its-possible-corrections-before-following-with-the-b-r
https://steemit.com/bitcoin/@thomasawa/the-btc-and-its-possible-corrections-before-following-with-the-b-r-update
Wonderful TA!! I really hope we do get the bearish sign and the E wave starts rInsing the sewers!! I will be ready to buy at 7 to 8k area! if not!! I will just sit and watch as i dont dare to buy in at this range at the moment.
well video & good informain bro..
Lol shit
I hope the correction ends soon, my friends are starting to say "I told you so."
100% agree, a lower low will weed out the remaining sells, then it will rocket. Thanks for Analysis. Wizard.
sir what about your litecoin TA, Bitcoin TA , they going opposite according to your analysis.
at the moment @salahuddin2004 preditcions are going right
matt expert also doing good analysis , but you only know limited chart pattern only waves,
i follow 3 different technical analysts. not all have it right all the time.
Let us also take note that BTC has touched down on the 21 WMA with a red bullish hammer! - I believe BTC will trend sideways for now, followed by a new ATH or a retest at a new bottom of 14k.
Namaste my brothers.
Why did my comment get downvoted??
A butthurt army of hackers is either blaming haejin for their own shitty investments or they’re jealous of his success. Either way it’s a lame move. If they used this jamming for something useful like messing with CNN’s twitter account it might be impressive
also exposing why steemit will never have mass uptake; you thought zuckerberg et al were bad..
No doubt daznez...steemit is screwed..i've talked to a few people about this and they left..said it was too harsh on it's users and there was no legitimate referee to weed out racism and harrasment
Zuckerberg recently announced he will look into the adoption of cryptocurrencies and decentralisation in Facebook: https://m.facebook.com/zuck/posts/10104380170714571
Guess he wants to be that referee.
Why in the hell do we need a referee?! That's like saying you need more gov't.
check out: Bernie Sanders aka Randowhale aka reward pool rape and countless other false accounts and bots
This looks like a bounce to me as well but are there bounces where it just keeps bouncing lower?
Thank you for this update @haejin.
Good article. I also think that the lowest low has already been reached. The market as a whole should start to climb back up within the next month: especially with things like tax and bonus check season coming around 😜
You're so nice for commenting on this post. For that, I gave you a vote! I just ask for a Follow in return!
good analysis, question is if we can say that for now 10 k $ is a normal, stable price lever or maybe bottom?
well video & good information thanks bro
I think bitcoin will just go up its just a matter of time . so no need to stress :)
@haejin please update $BTG, it's been frustrating holding this coin
The technical analysis you used is very good for sure. However, one should bear in mind a new player/factor playin into this game, which is the BTC-futures whales who will play shorting one time vs longing another , using all their power to succeed their future contracts bids and double Benefit. I mean first they longed and they started to buy real BTC as well before future contracts time so we saw a surge up to 20k , so they won the bidding futures contracts, and then they sold real BTC high at that price. Next round they shorted bts, and sold more so fud happened and people sold as well so price dropped under 10k ( remember they sold high and now at this fud filled their bags cheaply ) ... sonnext round more probably will be longing ( and buying more, media helps fomo, price increase, they unload their bags) and so forth. That’s in my opinion .. we will wait and see
Cheers 🥂
Finally you got your shit together! This resistance line is what matters as of now.
This is what I have:
Bitcoin is following the pattern thus far as predicted. We are now running up against strong resistance (see RSI chart) which also coincides with .5 fib retracement at $12.6k. Today we will see if the bulls can conquer this hurdle.
If they do, we are likely to me more major resistance at $14.3k (.618 fib retracement). Should we cross this boundary and confirm on the daily, we will fly upwards to our targets. If we fail, we are likely to see $7.5k before proceeding upwards in rapid ascent.
Happy trading friends and good luck.
Related Idea: https://steemit.com/bitcoin/@stew/4srpht-bitcoin-update-could-rise-to-14-3k-before-dropping-back-down-to-7-5k
is it time to hedge or long?
what?!?!
https://www.tradingview.com/x/b1JyJvrj/
https://www.tradingview.com/x/b1JyJvrj/
Good
Haejin, I think I represent the community when say: Thank you for your fine insights! Your works is a tremendous help for us!!!
Looks like the apex of your 3rd chart is near the lowest level in my chart work. Is your long-term bullish thesis more fundamental than technical?
Give me some upvotes please
this my view maybe will help you guys
I guess BTC is so powerful that they might take it down
Bitcoin (BTC) overnight price action has made me Happy...
nice bitcon post
wonderful, TA brilliant
Bottom in
thanks for sharing
are you a teacher...?
you explained so well
good
wow
It’s gonna hang out between 11,000 to 12,500 if it hits 12,700 look for it to break out over 13,000 your thoughts?
its really an informative post for all the people related to bitcion fab keep it up and do such posts for infomation!
I agree with what most people say here, this is just a short and healthy correction. BTC to rise soon :)
Dear Haejin,
I learned so much from you! I learned about fractals from you.. And I think I just spotted one in Bitcoin. Do you agree? Thank you so much, wish you all the best!
nice your bitcoin , accept me dear friend
nice
Bitcoin in the end o 2018 it will go upto 1000+$ upvote me it you are agree thanks
best crypto analyst of them all
Congratulations @haejin!
Your post was mentioned in the hit parade in the following category:
I am really happy to know that steem backed dollar (sbd) price will be worth of 100$ in the end of 2018.
sbd will be the no 1 crypto then next will be btc oneday.
It's my dream!!!
this TA lol..pick an indicator that matches
Up up bitcoin!)
Thanks! It's very helpful for investment.
Who did down-vote my comment? The purpose of this is so obvious. just what a pity.
Bernie Sanders aka Randowhale aka reward pool rape and countless other false accounts and bots
I think those who 'bought the bounce' around the 9K mark are pretty happy right around now. What do you think the new resistance will be for bitcoin?
Those who made it in time to buy some then are just taking in decent profits or just waiting for the price to go up.
https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction in December. Click the play button.
Please check and follow my tradingview and steemit blog.