SUMMARY
Note: The Video Analysis has tons more details. Please consider viewing it.
I wanted to share with you some additional perspectives ranging from primary count to alternates and larger degree of trends. The below chart is my current primary count. I believe the descending wedge has consistently been shown to be a very bullish pattern, once complete and confirmed. To that end, waves have completed a,b and c and the d wave could be on its way. The earlier morning update I had shown regarding the Head & Shoulders and ascending right triangle coudl provide the impetus support to carry prices to around $13,568 or so. For those who have zero cash to buy the corrections could consider farming for cash during this bounce. Could price exceed the wave d mark? Yes! Especially given how oversold the MACD is. IF so, then I'll send an update.
Here is the MACD. The video takes you through the 9,12 and 26 day moving averages and how these are applied to the buy and sell indications. The bottom line is that the MACD continues making newer all time lows on a daily scale. This means that a rubber band can only be streteched so far before it snaps. A bottom could be signaled by a major buy signal as shown below where the blue line converges with the red and crosses up. Again, more details on exactly how the MACD indicator works is in the video.
Sometimes it seems like Jeff Berwick and I are the only remaining BULLS in the cryptosphere. I believe 2018 will a parabolic year for Bitcoin and Altcoins. Percentage to percentage, the Altcoins will outpace easily. The below is my larger degree of trend. Is it a guarnatee? Well, if that's what you're looking for, the you're in the wrong place. I offer my analysis only to augment your own due diligence. So, no, it's NOT a guarantee. Rather, its the result of identifying as many possibilities and narrowing them down to a handful of possibilities and then selecting the primary and alternate pathways. I have been deadly consistent in my call for the $30k and then $70k and from the perspective of larger degree of trends, this correction level could represent a buying opportunity that won't return. So, do you have cash to buy? Why not? If not, raising some cash into the bounce would be something to consider. In addition, if you buy everything in a single transaction..you're at primce chance of suffering from Buyer's Remorse pains. Likely, price will go below your buy price and that is not a pleasant feeling. So, what to do and how does @haejin buy? LADDER IN YOUR BUYS!! The linke to laddering and how this is achieved is at the bottom of this blog.
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.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
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thanks for update
I agree if you are into Crypto this is a huge opportunity; or if you are into it but balked at a $20K coin (which currently is too high). This is it. Buy time. Buy history.
Old people in their banks and gold vaults hoarding money and not sharing with the young will never understand crypto. Governments who over tax the young and hand it to the old and wealthy will never understand crypto. They just keep doing FUD FUD FUD and that is what caused this price drop. But you can turn their FUD to your advantage. I am.
So you can look at it two ways do you want to believe in the FUD of old men or do you want to come with the us and change the world?
I can just see all the old people sighing reading your post and mine brother. Chuckle...and the irony is they can't take it with them!
Could you provide any evidence for your generaiisation that : "Governments overtax the young and hand it to the old and wealthy" ? Taxation is a huge problem but most of the tax collected is indeed paid by the wealthy and thereby the older half of the population. The problem with elder-bashing is that you too will get old......if you are lucky. Of course if you are really lucky you will become wealthy too. I hope you do.
The top 1%, the uber wealthy gained over a $1 TRILLION last year. Quality of life, hours work required to live, etc has been in decline for at least 4 decades. Income tax is a scam.. This is not where the government gets its revenue.. All income taxes pay the private centrals banksters.. personal income taxes only pay the illegal usury on the national debt.
Time to buy more cryptos guys? In my opinion it is, and so I did!
Heck yeah time to explode love seeing them babies going up a hundred or two percent or so or just a steady ten or fifteen percent few days in a role yeah baby
Thanks for covering bitcoin... i know it's not as interesting from a technical perspective as some of the smaller ones. Would you wait for confirmation before entering? I'm thinking breakout in late march... but not sure if to buy where you indicate a bottom or right after on the confirmation of a turn.
i've been following haejin for a while. he has strengths and weakness (time projection is the main weakness especially on corrections), but it's not crap.
in my experience,
he called the bottom of eos = i bought heavily at 55 cents and 45 cents. 1500% gains!
he called BTS will reach unbelieveble gains when everyone was scared of buying BTS (delisted out of bittrex) = i bought heavily at .42cents. 1000% gains if i sold at the top, but im a hodler on bts.
he was saying verge will cause massive profits = i bought heavily at .04 cents. 2000% gains if i sold at the top.
while many technical analysts in trading view were calling for a btc correction and then the altcoins will follow last december, haejin was confidently saying that the altcoins will have its time to shine.
i know about the reward pool, and i only like haejins posts in trades that i am in. but calling his TA crap is ridiculous.
Technical analysis is not a crystal ball. you are an idiot if you believe so.
Upvote & resteem .... Follow me @lurehound
finished watching the video.. sounds overly complicated.. :(
Buy BTC at this stage this is opportunity
Interesting mate, the market is really uncertain currently. But what matters is long term. Also mate, would love to have you thoughts on the the Next Coinbase post. Hope to see you around.
This little kid blatantly lost a shit ton following haejin's TA; do your research dumbass and 'dont follow blindly'
spam
Thanks for sharing us an informative post.
we can gather a lot of information by your post.
I always visit your site and wait for your upcoming post.
Thanks for sharing.
@Resteem done.
I am long however curious, Is it of no concern that recent 'swing low' definitively pierced low support trendline? Why, why not? Thanks in advance for studied and experienced replies.
Great analysis! I like your idea about the elliott wave counts and think that will almost certainly play out as we attempt to break the decending wedge. When it breaks I agrre that we will see another very nice rally in the cryptospace. As for your 70,000 call, I think it may be a stretch to see bitcoin at 1.3 trillion market cap.. but hey I never thought that we'd see 20,000 this year so maybe you are onto something!
I agree that this will be a parabolic year. The big factor is the transaction fees, why would anyone want to trade in bitcoins with a big fee when they can transact STEEM for free?
As more and more people are drawn into Bitcoin as the price goes higher and higher they will learn the limitations the transaction fees cause and turn to altcoins.
I love tweeting your bullish sentiment about cryptos. For humanity to not devolve completely into a totalitarian, satanistic nightmare we need public blockchains to win this raging infowar.
It is the only peaceful and prosperous way forward.
Thank for update..
Please upvote my post..
Much Respect! Each and every time~~~
Thanks dear sharing discuss about the cyotocurrance ..Waiting your next post..
Your TA has lots of insight. Thank you Haejin.
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Your writing is kinda like your TA, full of grammatical errors because you were too lazy to check your spelling and grammar in your post, but you don't care about your content anyway since the post needs to be online asap so the money grab can start again. It's trash and you don't even care basically, as long as it makes you money it doesn't matter... Poor followers, I wish I could help them but most of them don't even want to see how you abuse them.
Try to do what he do, and after talk...
BaHahAhAhAha
Yup how this guy has 17000 followers I will never ever ever ever ever ever ever
ever know!
Thank you for the update, will try to be at the coaching tomorrow
Hi, pretty new to cryptocurrency, tring to digest everything, thanks for posting. Have a great day.
Awesome, wanted to know in more depth about this, thanks and +1 follower :)
thank you haejin!!!
"This wedge is usually very bullish."
From the very first video, your bullish remarks are just classic. Thanks for info.
Thanks @haejin !!! I really appreciate how you took the time to explain small details about the MACD and rubber band analogy. Also, what was very helpful was explaining how to raise some funds on the bounces. I may have blown my wad on a lot of great calls haha! That cleared up some questions and explained in a very helpful way how to work with the corrections! thank you!
Thanks For Information.
awesome! time to make more money! ^__^
Gracias por compartir tus análisis
Is that real? i thought only alt coin can achieve hundreds percent income, but your expectation about bitcoin is awesome.
You're right about a lot of people being gun shy of buying BTC or most alts; I think it's because there's been a huge influx of new people entering the crypto sphere since around November and they came in thinking it was a magical money multiplier, then when this dip hit, as was inevitable, it shook them, especially the ones that didn't follow the advice of "only invest what you can lose".
Really though, if people want to mitigate their losses the move to make is to double down; if you bought 1 x coin at 1.00 and now it's .75 you need it to go up .25 to break even. If you buy 2 more you'll be at 2.50 invested, 2.25 total value, and so you only need it to go up .08 to break even. That's ignoring the fact that you're fine needing it to go up .25 anyways; buy the dips, that's what I'd be doing right now if I had money.
great post bro..
Thanks, @haejin! Here is my idea regarding BTCUDS behavior. I guess Double zigzag is also possible.
Welcome to steemit
On the 1day its looking like a clear bull flag to me... could have D E to go but in this bull market i dont think so... Just my opinion.
Great Video... Love the Details on The MACD.. Very Helpful!!!!
Hello My Name is Eally Roy, I just upvoted and following you! I have found similar content that readers might be interested in:
https://steemit.com/news/@indiancrypto/south-korea-clarifies-position-on-crypto-regulation-amidst-confusion-in-mainstream-media
I think it will be $ 5300@haejin
Thank you so much.
Plz update Siacoin.
SUre hope you are right!
Serious question : Is possible to spot manipulation with Analysis ?
I beleive i can flyyyy.
Not too shabby, lol
Candles or whatever you use,
fluctuation is the twin brother of all coins.
I am right?
Good. Post & SUCCESSFUL
I followed you.please follow me
Right rate ?
https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction in December. Click the play button.
Please check and follow my tradingview and steemit blog.
Good
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