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BITCOIN - Triple Three (WXYXZ) structure. - Part 9Is the China Narrative Running out of Steam? In our last update, we covered the rapidly developing China narrative as that country’s president, Xi Jinping, favorably spoke about blockchain. Since then, the market appears to have cooled . Jinping’s statements, which made clear that China is bullish on blockchain technology, didn’t mention any projects by name, nor did he speak about decentralization. Despite that, coins with ties to China saw impressive gains. NEO, ONT, and QTUM were amongst those who experienced bull market-like increases, but have since tapered off. Were Jinping’s statements nothing but a dream, or is there more where that came from? China is likely kicking off a blockchain arms race In an interview with Cointelegraph yesterday, Binance boss Changpeng Zhao said of China’s new stance toward blockchain: It’s super positive. China’s very pro-technology, so China will invest very heavily in blockchain technology and on the educational front as well. Given that China has now made that move, every other country in the world will have no choice but to follow or move faster. But it’s going to be pretty hard to move faster than China to be honest. In other words, when China decides to go for it , you’ll be hard-pressed to keep up. The United States and most members of the EU have expressed interest in blockchain technology, but have avoided taking key positions or signaling clear intent to adopt across industries. Thus far, the private sector has explored blockchain with positive results , but no nation except China, Singapore, and to some extent, Russia has reflected that. However, due to China’s position as the world’s second greatest superpower, their sudden claim to what is likely the greatest incoming tech revolution since the internet is sure to pull others, like the USA, into the ring. Digital yuan positioning itself as a global currency Facebook’s Libra project was the first blockchain-based currency to be taken seriously as a global form of money. Owing to that, states around the world felt genuinely threatened by it and have largely blocked the project from advancing. China, on the other hand, is a sovereign nation . To that end, it is free to pursue the creation of a digital currency for not only national purposes, but global ones as well. In September, Circle’s Jeremy Allaire told CNBC that the digital yuan’s two-tier issuance system was a smart move for breaking the yuan out onto the world stage. "This becomes a mechanism by which (the yuan) can be used in everyday transactions all around the world,” added Allaire, an internet entrepreneur who also founded video streaming firm Brightcove. “It’s ultimately a foundation for the internationalization” of the yuan. Can the digital yuan challenge bitcoin for crypto supremacy? The PBOC, China’s central bank, already showed its hand in regard to how it views BTC when bitcoin trading in China was banned back in 2017. Clearly, government officials see bitcoin as a threat to financial policy, and would be more than happy to coax it into submission with the crypto yuan. The takeaway China’s foray into blockchain simply can’t be ignored, regardless of how quickly the market forgets essential news. While the outcome of these events may not be immediately bullish for the market as a whole, the stage is being set for a significant increase in awareness for blockchain technology. Technical analysis $BTC structure becoming more complex, with more down-side possible. The fact that we've seen something lower than $7300 puts $BTC in the following scenario: - Triple Three (WXYXZ) structure. An impulsive and bullish C leg should commence, after which a last bearish pattern would start unfolding. Things to watch for: The way it goes up! It has to have an impulsive 5-wave sequence. If it doesn't, then it would dip more and continue. The way it would go down after the expected bullish sequence. If it's corrective, then it could go bullish for good. If it's impulsive, then the Triple Three scenario is valid. Elliot does not work? Yeah, it works! it is magnificent, the complexity and subjectivity makes it like that, and so does the accuracy, when used correctly. It takes a lot of planning and patience, calculations, etc, but it's the best tool to be used. Note: Prices can vary between Bitcoin exchanges, and consequently there may be differences in our chart prices due to different data sets. Our analysis is for information only. We recommend that people avoid trading on unproven exchanges vulnerable to hacking and theft. GOOD LUCK! We go together Together we are stronger Share and like I am not Bearish long term. I am a Bull of Bulls. Thanks God bless you! Nothing is hard as long as the determination is there. =============================================================================== BlackMEX - PREMIUM We are a BITMEX specialized channel. Our philosophy focuses on capital preservation and good risk/return operations. We'll share our analysis, calls, and share studies that can help you be a better trader. Enjoy! ** 2 weeks free sign up Telegram > t.me =============================================================================== Twitter > twitter.com =============================================================================== =============================================================================== CAUTION! DISCLAIMER Trading is risky. Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio. Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong. At the end of the day, the most important thing is how good are you at risk control. Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management. Risk comes from not knowing what you're doing. Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out. But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities . So you can assume that I know how to deal with risks. =============================================================================== $BTC $BCH $BNB $XLM $EOS $ETH $ADA $LTC $TRX $XRP $IOTA $LINK $XTZ $BTT $XMR $NEO $BTT $MATIC $XMR $MRK $XEM $ONT $DASH $BAT $ZRX $LSK $NANO $REP #altcoins #bitcointrading #cryptocurrency #cryptotrading #CRYPTO #BITCOIN #BTCUSD #BTC #BuyTheFear #BuyTheDip @btc @RedditBTC
BITMEX:XBTLong
by ferGOD
Long Story Short (Part 2)Hello to all crypto enthusiast, we are standing in a very interesting time in the crypto sphere, I'll try to make this idea as simple as I can, even if you are not familiar. with Elliot wave theory, you can get here a nice amount of information about it. I will start with a disclaimer, It is important to me to clarify that my analysis are not a recommendation of any kind, this is only my idea and you should do your own research! Collecting data: Facts - 1) our WXYXZ correction structure is over, you can see my analysis about it at ' Long Story Sort ' part1 and in the video I made ' The Similarities ETH vs BTC '. 2) An impulse wave is following a correction structure, it starts at 17.12.2018 and ends in 01.07.2019 3) our last correction is in a flat correction wave count. Flat corrections - (regular, running, expanded) Flat correction is made of (3,3,5) counting, correction wave are noted as ABC, the first wave (A) is made of 3 smaller degree waves, the second wave (B) is made of 3 waves as well and the third wave (C) is made of 5 smaller degree waves, that's why the (3,3,5). Regular Flat Correction - when wave (B) doesn't cross up wave (A) top and wave (C) is equal in length to wave A, you can measure that with fib ext Running Flat Correction - wave (B) cross up wave (A) top by 1.238% fib ext and wave (C) just above the end of wave (A) Expanded Flat Correction - when wave (B) cross the starting point of wave (A) by 1.238-1.382 fib ext and wave (C) moving beyond the ending point of wave (A) by 1.618 and sometimes even to 2.618 of fib ext Analysis: I will divide my analysis into 2 frameworks, the first is the color of the rectangles and the second is the color of the wave lines. Lines explanation- Black line - showing us the whole move of wave 2, the intermediate degree ABC Red line - presenting the Minor degree, which follows the one smaller degree of the intermediate and reveals the structure of each intermediate (black) wave Blue line - under bracks the structure of the minor (Red) and reveals what it made of Rectangles explanation- Red - framing the first correction A Yellow - divides the B correction to two halves, the first is about the expanded flat correction Green - the second half of the B wave Black line - the wave line is presenting the big picture, In my analysis, I choose to present a situation which the big move will be a regular flat correction, this desition made because the rule in EWT that says that wave number 2 will retrace 61.8% out of the first wave and as we can see for now, the bulls fight to keep those price level. with all that been said, the prices still can go to 88.6% and the analysis will be still valid. So if we understand that wave (A Black) is the beginning point of a regular flat and we know that in regular flat the length of wave A,B and C is approximately equal, so by measuring wave (A black) we can get to 355$ at the top of wave (B black) which eventually will lead us to the last target of wave (C black) to the same price level at the bottom of our current correction. Red line, red rectangle - this is genesis, which leads me to the conclusion that we are in the middle of a bigger correction, as you can see, the red line in the red zone in for ABC, but if you will take a closer look at the structure it self (blue line) you will find the structure of it is (3,3,5) flat correction structure. At the beginning of zone yellow, you will notice an uprise move to 230$ and then a crash to 160$, if the crash wasn't crossing down the support line of the uprising move we could conclude it is an impulse wave. but it crossed it down, and so it lets us understand the correction has not been finished yet. Blue line, yellow zone - By EWT definition of expanded flat, we can understand we are looking at one in the border between the red and the yellow zone. Yellow line, green zone - the rest of the analysis from here is a bit hard to determine due to insufficient data, it is not a simple task to understand properly the structure of the chart when we have only the EWT guidelines, but still I drew them just to represent the sentiment it will may go. I really hope I made it not to complex to follow and to understand, after all, it is a bit complex subject to understand and a bit complex idea, but... If you have any question regarding this or any other idea of mine, you are more than welcome to hit me up in the comments and I'll do my best to answer when it is possible ;)
COINBASE:ETHUSD
by josque
UKOIL - 123 complete or WXYXZ in process?Hello traders, The 2 possible scenarios I see: We go up from here to break the 75 area before heading back down to <45 which would mean we have a standard flat correction for the middle wave. Or We break the 50-52 price level now and then we head back up to complete a middle WXYXZ correction before any pattern continuation. If you would like me to forecast a specific pair that I have not covered, feel free to comment it down below! Please don’t forget to like & follow. Thank you, Good luck
TVC:UKOIL
by UnknownUnicorn852976
Triple Combo WXYXZ.The market quickly penetrated the support line overnight and then reversed. It may be too early to say, but it is a concrete sign of reversal. The daily candle will probably close in "Evening Star"... to follow! We can also notice a head and shoulder pattern on a 15-minute chart Le marché à rapidement pénétré la ligne de support cette nuit pour ensuite se renverser. Il est peut être trop tôt pour se prononcer mais c'est un signe concret de changement de tendance. La bougie daily va surement fermer en "Etoile du soir" .. à suivre ! Nous pouvons aussi remarquer une figure tête épaule sur une chart de 15 min
BITFINEX:BTCUSDShort
by coyotcrypto
ASTBTC Is Ready for another Potential Bullish MoveFlashback: BINANCE:ASTBTC Airswap Recently had Instant v 2.0 Public Beta. We came to see good gains in volume but due to overall bad performance of market and high pressure on BTC AST Couldn't go beyond 873 satoshish however pre event buying and accumulated, RSI remained too high the price touched the price crossed 1178 on just 2 days before the event also keep in mind that we still have a weekly ceiling of 1150 ( Airswap Instant v 2.0 Public Beta) . Current Scenario: The following indicators are favoring ASTBTC bullish trend at the moment. RSI (gradually Increasing) MACD EMA . The chart is quite self explanatory i have highlighted drop-line to bear zone entry with Yellow arrow and Green arrow is representing Bullish trend while black arrows are showing supporting. Sometimes you earn the other times you learn. Play with cautions. This chart is for educational purposes only. Your Feedback is highly appreciated Happy Trading.
ALong
by CognitoBTC
Bitcoin Full Elliot Wave Analysis (BTC)Bitcoin long term analysis. You can see my whole setup from the all time high. It might be too chaotic and messy to see, sorry for that. But if you know Elliot wave count, I do not think there will be a problem. After the all time high I suppose WXYXZ full correction happened. Before finishing the Z wave $6100 area was holding the price very long time, but when it break the support with triangle correction patter it made a huge dump to $3200. For me, Bitcoin finished its WXYXZ correction on $3200. Recently it broke the resistance line and huge spike has occured. I see it as impulsive wave and need a decent correction to enter long position. It might be the start of the next huge movement, but need the break $6100 area, previous support, as confirmation.
Long
by Purvee
1