Bitcoin (BTC) Mid-Day Update: Bitcoin is an Uncorrelated Alpha
bitcoin·@haejin·
0.000 HBDBitcoin (BTC) Mid-Day Update: Bitcoin is an Uncorrelated Alpha
<center></center> -- **SUMMARY** Tom Lee of Fundstrat astutely categorizes Bitcoin (BTC) as an uncorrelated alpha. It is correlated to no traditional asset class. It marches to its own waves of sentiment and this is what usually stumps most traditionalists from Wall Street. They have no idea how exactly to valuate an asset class that has no correlation. Bitcoin (BTC) is on its own pathway and the below chart shows that price is adhereing pretty well to the free hand drawn scribble that's been jeered at by the cynics and the uninformed. Let's see if overnight prices could form out the Right Shoulder.  Same chart and pattern but viewed with Elliott Waves show a downward wedge is in formation and its nearly complete. Does Bitcoin like wedge patterns? Can wedges be considered a personality attribute of Bitcoin? In a word, yes!  From a larger picture perspective, nothing has changed. The blue D wave still appraoches and two pathway potential lies ahead for the breakout.  Keep an eye on GBTC as noted earlier today, it could potentially forecast an incremental lower low for the much of the Cryptosphere:  **Legal Disclaimer**: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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. </center> Please consider reviewing these Tutorials on: [Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin) [Elliott Wave Counting Tutorial #2](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-video-2-zig-zag-and-flat-corrections-how-to-recognize-and-label-corrective-waves) [Elliott Wave Counting Tutorial #3](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections) [Laddering](https://steemit.com/bitcoin/@haejin/an-effective-buying-and-selling-strategy-laddering-a-tutorial-on-to-cast-a-ladder) and [Buy/Sell Setups](https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial). [Laddering Example with EOS](https://steemit.com/bitcoin/@haejin/eos-target-usd3-22-analysis-update-live-real-time-laddering-example-you-don-t-want-to-miss-this) [Tutorial on the use of Fibonacci & Elliott Waves](https://steemit.com/bitcoin/@haejin/tutorial-on-the-use-of-fibonacci-ratio-and-elliott-waves) [@haejin's Trading Nuggets](https://steemit.com/bitcoin/@haejin/haejin-s-trading-nuggets-all-learned-through-tonnages-of-failure-experiences) [Essay: Is Technical Analysis a Quantum Event?](https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event) Follow me on [Twitter](https://twitter.com/Haejin_Crypto) for Real Time Alerts!! Follow me on [StockTwits](https://stocktwits.com/HaejinCrypto) for UpDates!! -- -- <center>https://steemitimages.com/DQmWpisRXDF56mV3DgzzPUxb3R2ozseR48YVr2YKtwtrBcV/DQmWpisRXDF56mV3DgzzPUxb3R2ozseR48YVr2YKtwtrBcV.gif <center>https://steemitimages.com/0x0/https://s1.postimg.org/231h83mh7z/U5drx_NFe_Q4_Nn_YGEb9rq2_V47_X6_Yk_AQsm.gif</center>
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