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SUMMARY
Two days ago, I had said to BTFD the Upcoming Correction. Has my stance changed? No. Why?
First, the below chart shows a correction to be very healthy! If we are now enaged in the long awaited wave 4, and as the day comes after night, wave 5 up is next.
Again, the Bullish Speciation of Altcoins in the three primary Chart/Elliott Wave patterns as shown below, is expected to support higher highs. Bitcoin crashing with such Altcoin Bullish stage is unlikely.
I present the Cup & Handle Species:
I now present the Jaws of WEALTH species:
And the Bullish Symmetrical Triangle Species:
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?
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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.**
Oh yea today was a crazy day. I think correction will be very healthy for december.
I expect a year end rally driven by institutional investors.
Like I said it’s a “fire sale” to buy at low prices. Go big or go home. Precious metals are a pretty stable investment if you don’t have the stomach for this. Thanks for the analysis Haejin
Diversity diverse. Diversity.
I wouldn't say these are "low prices" so to speak, but they're relatively discounted from what the market has shown them to be worth on recent runs. I'm so relieved the flash dump happened now to give people a reality check and consolidate. It was tempting to sell to short, but never short a bull market!!
haejin you are the man, the cryptoman!!! keep on going my friend!!!
Im thinking from a previous post of yours. looks like it could go more like 50% correction.
Thoughts on how low we correct too?
in haejin we trust.
haha exactly, he has so relaxed voice
Haejin would love to see your projection for wave 5 of 3 for the s&p.. What are the chances that the coming stock markets' corrections will be the catalyst and feed cryptos... 'runnin with the bubbles... ' talking about that 'something big coming'. Or it could be the much anticipated bond market collapse.. do you find any e/w indications?
Thats interesting I would love to see that happen.
I just loved the Bitcoin healty correction but was not ready that it involves altcoins, too.
This is an awesome lesson for me. 😅
You rule. PROPHETS AND PROPHECY FROM THE MASTER!!! (kneels)
Thanks. Could you please elaboratw what this means for DGB specifically? It seemed to go down in ratio as well.
Agree!!! Nevertheless, I'm expecting this:
Well done
or could it be like this
we hit 8600 on that dip
yes but my point was that maybe we were on 5th wave.
Correct me if I am wrong .when bitcoin enters wave 4 , will steem breach the support line and go to the 1.91 dollar ?
Don't know.
Thank you , very interesting. What do you think about ADA Cardano? It has a gigant rise, yesterday. Now is making a correction.
Healthy
Thanks for the rational and practical post.
Thanks for the update Haejin, do you mind reviewing a TA on chainlink. Its probably the most undervalued crypto right now.
HODL your coins, dont get intimidated by this correction folks!
So no crash. Just correction.
I guess if one tries to sell and buy back they may get caught between a rock and a hard place.
And kick themselves?
yes, hope people don't panic sell. it's all good in the hood. Internet is here.
ive learnt that lesson lol wish I had HODL for the longer picture, rather than try to trade sub waves - good lesson to learn i guess
Is it betteror worse to trade USD/Alt coins or BTC/Alt coins? Also,Ive been trading on bittrex but is there a better way? Thank you.
The question should be how to use /usd and /btc. To me, /usd is always ahead of the /btc pair and so one can use it as a leading indicator for the /btc price pathway.
Hi @haejin, what is your view on the STEEM price dump that just occurred down to $.90? Does this imply an alternate count?
BTFD
haha, thanks.
Dear Haejin, I'd like to thank you in behalf of your followers, for guiding us through a hard day like this. You really took initiative (and some risk of heat too!), and clearly stated this was a correction, even from a couple of days ago.
You probably prevented a lot of panic selling today. I am grateful to you, and surely not alone feeling this way. So again, a big thank you!
I wish you MASSIVE profits!
So what do you predict to be more profitable percentagewise at this point? Getting into altcoins or bitcoin?
both, but overweight alts
In case you missed it ... BTC has corrected .... Jingle bells. .... now heed and Com all yea Faithfull...... let us adore ...... bitcoin cryptocurrency s born.
Thank you kindly
Wait ..... wait a minute...... said the Shepard boy to the Mighty King. Do you know what I know ....do you know at innow .....bitcoin is the untold fortune of silver and gold........sleeping in the ether tonight..... sleeping in the ether tonight.......... upon awakening ........ shall bring all goodness and light. 9= 720000 if you can march to the rythym and know the calculation of thy march.
Thank you kindly
Thank you!