SUMMARY
Overnight, Bitcoin (BTC) completed the projected a,b,c,d,e triangle and this morning, EXPLODED out and UP! THIS IS THE POWER OF TECHNICAL ANALYSIS!!
There is no magic or crystal ball required, this is a technique that all can learn and I freely share all my secrets and know hows to all who wants to benefit. First, consider studying, not just viewing, but studying my tutorials linked at the end of each blog. These contain almost all I know.
The below chart shows the bullish downward pointing symmetrical triangle with completed a,b,c,d,e waves and the resulting price explosion. One might ask how exactly and why exactly does this kind of pattern work so well in predicting future price pathway. Much more details in the video, but it all has to with a tug of war between the buyers and sellers. At blue wave 3, there are plenty of sellers and they are winning the tug of war. At wave b, there are less sellers and at wave d much less sellers. These sellers are selling into this decline and sap the sell strength until the bulls overwhelm and then start taking the tug of war towards their side. The further impact is really derived from two emotions, fear and greed and these are the dual sentiments that drive price. Again, more details in the video on this valuable lesson.
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!!
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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 Mumbo Jumbo: 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.**