SUMMARY
This is a short term, tentative, micro-Elliott Wave count. The strong bounce from the $7,621 low moved up impulsively, as shown by the white waves. The a,b,c is now in progress and the five subwaves of the c wave is marked. IF the c wave is or about to complete; then BTC needs to initiate another impulse upwards. The c wave tagged near precisely the 0.618 retracement level. This new impulse upwards would be a higher degree wave 3. So, IF this is to be the onset of a reversal, overnight price needs to show higher highs. The lower white support line also needs to hold.
Legal Disclaimer: 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.
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How come trend analysis didn't see this coming? This is a pretty steep drop when all predictions pointed to a moonshot.
It really doesn’t matter what happens right now in the next few days/weeks because the destination is still the same.. The🌝Mooooon!!!🙌🏼🤩🔥📈🚀
BTC prices in the month of January as chart is illustrated below.
😂👌🏼🐶
Dogecoin it’s coming
Moon or...Saturn!
Why not both!!🚀📈😂👌🏼
Thats right... Yeahhhh!!!
Agreed. A lot of new people do not understand we are at the beginning of decades to come. Think, It's been about 200+ years since money has been changed. On top of the endless implements of blockchain. The tip of the iceberg is an understatement.
This is just the beginning. There will be blood on the way up.📈
This market is going to destroy people lives dec 18, i really do think you are right even thou there is alot of tether FUD etc... but know this... the FED IRS BANKS WALL STREET want to end Bitcoin. It is a threat to there money and power.
This crash is nothing compared to the next. MARK THESE WORDS IN STONE.
It’s can’t be stopped. There’s too many big players getting in like Billionaire Peter Thiel and people of that caliber. It’s not just Bitcoin anymore. There’s hundreds of good projects being built and soon there will be thousands, then millions.
It was just a matter of time before people’s ideas became tangible wealth.
Ending Bitcoin is not an option.
It will be adapted into the wider financial system.
Governments have no choice. The people won't roll over again.
Governments are on edge but they need us more than we need them.
💯💯💯💪🏼😁
Let's not call what's happening a crash. It's enough that mainstream media do it all the time. It's high volatility market and sudden, big moves happen. Chart-wise what's happening is still a normal and very healthy correction. I'd love BTC to drop a bit more, just to lay even healthier foundation for incoming rise.
But I do agree - when real crash happens (and it will in future, not sure how distant), it'll be very painful. I'm worried about all those people already buying lambos in their heads, after investing much more then they can lose.
Just a correction. The tree has been shaken but the giant is awake and won’t stop now. Only place to go is up!!!📈📈📈📈🚀
BTFD
Just a correction. The tree has been shaken but the giant is awake and won’t stop now. Only place to go is up!!!📈📈📈📈🚀
More to come!
actually it does so next time we get hit with this major correction we dont lose most of our gains
I agree and was half kidding. Having stop losses in place for times like these is so key my friend.
Yeah man. Ive learned that the hard way
Me too😢📈💯
Let's see what happens now, the correction arrived at the value that was supposed to be the minimum it is supposed that now it is going to make a change of trend and it will happen a bitcoin price recovery, it will be expected to happen, thanks for the information
Honestly, I think the alt coin market will bounce back up higher than ever before the end of the year. This is just a retracement were in now. Thanks for the advice, mate.
Yes, the alts will make you money on paper... ON PAPER, but check there github's alot of them are doing no programming at all... they jsut meet up in conference room and talk about what they want to do.
Use 2018 to educate yourself, WHY? Bitcoin is the moon that moves the tides. They say its old, its slow...etc etc but it is 10years ahead of the rest. the best minds in the world are working on it. It is all that matters.
The End
So, there will be many crashes in alt coins.
I completely agree. When BTC finally starts its big uptrend, the alt coins are going to decisively snap back. I'm down about 40% on my overall portfolio and couldn't care less. The volatility is part of the game and we only need to be prepared to use it to continue to build out our positions. Christmas of 2018 is going to be awesome looking back at this day and how incredible the recovery was.
June will be awsome
The turn for the Alts might be behind BTC; but yes, I agree, all time new highs for Altcoins.
Its pretty cool how just this so called crash has afforded me to pick up more amount of altcoins than I could have hoped for 3 weeks ago.
The pull back are opportunities and hopefully everyone can start to see it that way.
Talking like that could get you in trouble......lol Most amatuer traders dont hold Bitcoin, they only buy alts so they dont care about Bitcoin. For some reason they dont want to understand that it is the base code to every coin, it in the DNA of crypto.
I bought 100K of TRX at 3cents sold all at 28cents. I am an amateur trader according to you. It was my first trade. I made 25k in my first week. No way I would have done that by holding BTC. With that said i respect BTC immensely. But to call someone an amateur because they only trade alts is a bit rich.
Anyone can appear to be a "decent" trader in an uptrend.
Doesn't feel like an impuls . more like moveing sideways
Maybe the baby fractal will form
1(high) ... 2(low) ... 3(high) and then a drop with a stop half way
closer look
@haejin it looks to me like a 33333 ending diagonal of an ABC flat! Is it allowed in a flat? or only a zig zag?
It's a diagonal. That's the only one allowed to overlapping impulse labels.
I think right after you posted this the 4 was starting. I think we still have to hit the 5 which I am targeting around $7800. I need a drop so I can fill some rungs crypto Gods!
Right now it's in support 1 which is the trend line of the 200 periods... If it breaks this support, a second very important support would remain in the 5800$.
Hopefully it will resist the first support... If you break it, HODL.
Greetings @haejin, thanks for your analisys
Yes my friends, excuse me hahaha I'm habituated to analyze the alts and I always talk about satoshis hahaha are dollars... @vonbuelo @scorer
I think you meant 5800 Dollar for the second support level? If there is a chance to buy a bitcoin for 5800 satoshis I would buy the whole market.
Haha! This guy already lives in bitcoin as a base and forgot that there were some FIAT money. 😂
I would have never thought to look at this as a micro wave and throw a fib on it. Always learning!
@haejin Верно, сейчас надо переждать "валидольные" значения)
There’s way too much technology, people and money involved in this not to keep mooning in waves until it stabilises a bit in following years.
HODL and by the discounts!
As you can read on my Analysis the 5th long term wave will start soon.
https://steemit.com/bitcoin/@vonbuelo/btc-the-final-shake-down-or-shake-out
Yes, the log chart shows as such.
buy you a beer you fucking make 200 plus a day on 3 post a day shut the fuck up buy me a beer.
LOL
buy yourself a buttplug then.
Thanks for the analysis @haejin!
Keep up the helpful analysis. Hoping it will drop to 6800.
That would break the support line...
Keep dreaming...a bull wick should put us in the 7s somewhere but we're on solid ground, ready for the next blast off!!
I hope it stays going up and down inside the bollinger bands, making so much profit.
If you do not participate in the high, you will participate in the low.
btc was down ⬇️ 23 million IDR @haejin
bitcoin will be at least 6000
but rather reach up to 4k
$7,621 Was not the low haejin.
Do you no longer believe there is another low coming as the 5th wave after the current (from your previous post) 4th wave? I've counted what you call impulse as a quick 3-wave a, the following a-b-c as b, and now the upward wave in progress as c - which would be 5 waves whether the whole thing is a zigzag or a flat. And then I expected it would come down for the final 5th wave. Is your new analysis considering the current wave in progress as sub-wave 3 of the new uptrend wave 1 (post correction)? Would love to hear your thoughts. Thanks!
No, that's still on the table. I'm only trying to discern IF the bottom is in.
Yes I was thinking exactly the same. This could be the C wave up, counting 5 subwaves, making the correction a Zig-Zag and then again down for the final leg down.
Exactly. Although it's seeming like that would be too fast, looking at the timeline, which might mean that the the end of 5-wave-C is actually just wave-A of a higher degree, and we still have B and C of the higher degree to complete before the final 5th wave descent. It may never end... :)
It's inching higher but don't see the impulse yet...
Terimakasih atas infonya .
Kiriman anda bagus sekali
Another Update about Bitcoin and Ripple would be appreciated @Haijen
Thank you for your very helpful analysis. Is the strong bounce from $7,621 more like a leading diagonal in view of the fact that a leading diagonal (5-3-5-3-5) in the wave 1 position is usually followed by a deep retracement ?
I am bit confused.. in the morning he said the sub wave 4 and 5 of E wave will be happening and the price to 6500. now he is talking this could be the onset of reversal.. does it mean that wave E has finished without sub wave 4 and 5?
Yeah, with TA there is always a chance that it will change course so you have to be ready to react. Looks like it is back to that wave 4 and 5 correction. And at the moment looks like wave 4 just completed and we're heading down to wave 5.
Mr. Lee, what i dont understand is how you didnt see this correction coming and kept pushing 23k! This correction pattern has not only occured in the major scale but you can see it in sub-minuette, minuettes, and minute waves. Anyone whos held BTC for over 1 years shouldve been able to tell you this major correction pattern isnt new and it shouldnt have taken a veteren by surprise
Haejin called this all the way you must not have been paying attention and just looking at the longer trend. Learn to fish and stop looking for hand outs.
One reason, he's a scammy liar. Get used to it, he's full of shit.
He either gets too excited and crypto bias or just sloppy work. Pumping out work too fast. Maybe instead of 50 BTC vids, cut it down to 10 and do some deep research. No way someone with 20+ yrs of exp shouldve missed this correction. It has been incredibly repetitive thru out the history of this coin and has appeared at all degrees of elliot waves
yes
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Great boss.. ..
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At first i had thought that would be the end of bitcoin, but like a reawakening from commatose it shows signs of resurge. I quite agree with you on a bounce back!
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I just gave a candid opinion and i'm not a follower. Why this? Is commenting now a crime?
We're prob going to test 10k fail and not be able to hit it (bulltrap) then head back down before we break 10k and resume our bull market. Prob 7k range (buy zone). Feb 16th Chinese new yr ends. Now we know what to do next January!
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@haejin My opinion of the BTC drop.
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@Berniesanders What in the world did I do to you? What is going on? I thought my comment picture was funny..
@berniesanders Why in the world would you do this to a new comer? I had no idea you had some kind of private war going on with this guy. So because I'm new, not even two weeks old, you send bots to flag and rape my rep? You're pissed at him for scamming people yet you go around and rape me for commenting a freaking picture that was funny? I don't support him, I don't follow him, I didn't upvote his post. In my opinion you're just as bad going around and screwing over people that have no idea about this war you two seem to have going on. Thanks for nothing man.