The most recent BUY Ladder I had cast is shown below. Thus far, FOUR RUNGS have been filled! And all FOUR are PROFITABLE! THIS IS THE POWER OF LADDERING! (Purple dotted are filled rungs). I've now cast the Profit taking Ladders and this will be shared in a later post.
BITCOIN (BTC) Amazing channelling is going on between the two white lines! This is the POWER of TECHNICAL ANALYSIS!!!
Price is now less than $90 away (Bitfinex prices) from printing a NEW ALL TIME HIGH! That way, my projection of the Expanded Flat A,B,C correction would be fulfilled. The Fractal potential is uncanny. Observe the white and blue boxes. The Red lines are fractal of BTC's recent decline.
This is NON-Phasic Stage of ALTCOINS to BITCOINS. Not too long from now, the Reds will be GREEN and the one Green could go rest a bit in RED.
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
I am waiting patiently for the break of this bear flag. Hope it will kill 5200$ first.... More profit for my short...
Do you think this is abc of C or are d and e coming now?
I dont' short Bitcoin. I know a guy who lost a whopping $300k shorting Bitcoin and that wasn't me as I learned that of lesson many years ago. I don't do anything on margin. Equity options are all cash and no margin, though a margin account is needed.
I think this is c and d,e are to come. I'm not waiting or holding for d or e. Taking my profits and running. This is already getting a bit extended.
Thanks for the warning. One of my best trades ever was shorting bitcoin. If I expect several thousand $ drop in BTC I cannot let that oppotunity pass. I am using tight stops and I don't loose much even if it goes horribly wrong. Don't think it will. Will only be trading a high volume break of this flag. If this doesn't happen, I will watch for better opportunites.
Never short bitcoin :) It is all time long
Interesting times ahead. Possibly due to the two hardforks due in the next few weeks. From your post I assume you are fully invested (or as fully as you intend) and you have now placed your sell ladders (to be discussed later). This is where I am interested as I am invested and I am looking when to sell off.
Did you share those buy ladders in a previous post? I find very precious to follow your actions.
How will you know that the ATH has been reached? And will you update when tha happens??
Thanks a lot Haejin!
Ohe YES! Several times! It's in the past post. I'll try and find it. The darn thing about Steemit is it doesn't have a catalogue system.
what do you think about using BTC right now to invest in some good ALTS?
someone said alts may take a hit as everyone will be buying BTC and selling Alts to get their BTC gold... I think that makes sense... What do you think @haejin ?
I think that's nonsense and it's the human monkey brain trying to extrapolate through perception and fundamentals of newtonian causality.
Sentiment moves in a quantum, non newtonian degree of waves under fibonacci ratios.
One needs be in btc only 25 hours or so before fork to get the forked coins.
So, no, it's not gold forked coin but sentiment driving this whole picture.
That's what I'm planning! This rise has little to do with people selling alts to get into BTC for the Bitcoin Gold fork which isn't until the 25th. Did you know that all you need to do is be in BTC 24 hours before the fork happens? People try to rationalize all sorts of reasons....TA is better.
@Haejin please say the post about sell ladders will be tonight lol
just posted:
https://steemit.com/bitcoin/@haejin/bitcoin-btc-profit-taking-ladder-haejin-s-profit-ladder
Sorry What is TA?
Hi Dale,
TA is Technical Analysis. I use Elliott Waves and Chart Patterns along with MACD indicator. Please let me know how I can help. I provide free Technical analysis of cryptos so, feel free to make a request.
So would you say that its a good time to be buying alt coins whilst they are in the red, as they should be rebounding soon ?
I'm laddering in and have been all day.
can you make a list of which coins to ladder in on? and what % of your portfolio are you putting into your alts?
So basically, instead of selling BTC. Buying alts would be smarter? even though BTC is about to dip??
As you can see from earlier post, I'm selling BTC for profit. I'm buying Alts for a swing.
The % allocations don't matter. Im laddering heavy into NEO, BCH, ZEN and others.
It's important to know that once BTC trend turns back down, Alts will follow.
so you're selling BTC for profits in USD.... and buying ALTS with USD? or using some BTC to buy ALTS?
How about Monaco? It had a bull run thanks to getting listed on more exchanges. I'm putting my money on NEO, MCO, WTC,SNM
@Haejin so once BTC starts to drop to bottom of wave IV ALTs will turn Phasic again and also drop (assuming they haven risen over next few days)?
This is such an exciting time! You're excited about Bitcoin, but I'm going out of my mind about how cheap all these altcoins are! I increased my OMG stack significantly!! Waiting for the money to flow back into alts :)
I am curious to know your perspective on this price movement of Bitcoin with regards to your long term projection. The top of this bull run does not indicate the end of the last wave, correct? We shouldn't worry about this for a while (weeks/months), right?
NOW is the Time to be Taking BUYING actions on the ALT coins, IMHO.
I am! I'm salivating at the mouth everything is so cheap, even sent some SBD to the exchange to buy buy BUY!!!