SUMMARY
The magnified view of Bitcoin's (BTC) correction is shown in below chart. The key is that the blue waves are pointing towards a region of $7,965 or so. That region is quite close to the Apex (the point at which two lines of the triangle intersect). I believe green wave 4 is likely to be a bounce prior to wave 5 touching the bottom white line of the wedge pattern. While a bullish wick move is also expected, the support can't be broken decisively. It needs to hold even if price temporarily pierces it but needs to return inside the wedge pattern. Green wave 3 should complete today.
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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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Thank you for this Post, i am just holding my coins....
Looks like this is it !! another few days and this will be all over and a new beginning will start. If im not mistaking this looks like a "slingshot move". For this to happen the masses must be wrong. Like a boat when everybody goes to one side and tip the boat to one side and then everybody scrambles to the other side and tilt the boat in the other direction.
Some may even fall of the boat ( weak hands )
Time to stock up! Sadly I invested most of my money about 2 weeks ago I should have waited. At least it's a learning experience for next year! Btw I like the drawing it lightens the mood up
yeah me too xD fomo ....
It is all a learning curve. My advice is study Bitcoin, follow people like Trace mayer, and Andreas Antonopoulos. Most uneducated people dont understand why Bitcoin hold such a dominance, some actually believe ripple, dash etc are better...lol The best minds in the world are and have been working on Bitcoin for the last 10 years.
When lighting comes, boom, the rocket will go off, melting every other alt coin.
I did the same mistake. Such low prices and I cant enter. Damn! Those who are cashed up will make it
yes! Phenomenal buying opp coming!
Phenomenal buying opportunity coming? I've already filled the first rung of my ladder. lol
Another rung coming up soon. :)
@haejin @kwaman 8,5K gonna be the first bounce, pullback 8,5k again and the perfect bounce 8k.
Humble opinion
https://steemit.com/bitcoin/@thomasawa/btc-usd-update-01-02-2018-multiframe-analysis
https://steemit.com/bitcoin/@thomasawa/btc-usd-01-02-2018-update-2-complete-ta-fa
Yesss!!
Yeah, I'm really hoping your analogy is correct. I'm holding for now, but looking back on it all I would have been better off just waiting to learn and then buy now...
I always like to watch twitter and read the articles for EW sentiment readings and i haven't seen it this bearish since I've started trading cryptos..it could go longer but i like the slow methodical decline this last month..it shows me that the large players are slowly accumulating ...the order books confirm this as well
Just check older charts. It's actually normal for the cryptomarket to drop at the beginning of the year because of the Chinese New Year. Just check my last article. I have put some reasons and charts in it. So totally correct, it's time to buy the dips^^
You mean "few weeks".
Thanks for this master! If the 4th wave goes higher than the 1st, does that make the count invalid?
Here's my take on BTC:
IMPORTANT COIN UPDATES - BTC
https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-xvg-tron
much appreciate your expertise, thank you!
Bitcoin should hold at around $8,500 but there is no way it will go under $3,500
I have already entered one buy rung 8750. and then 8300, 7500, 7100, 6666, and 6100. But i am not ready for $3,500
If you have more cash and so laddering your ladder, it would be ideal. In other words, not all cash goes into this ladder.
Damn I'm not ready for $3500 neither ! I started to ladder at 7800 (20%) 7400 (50%) 7000 (20%) 6000 (10%). What % did you use?
$7.5k Bitcoin based on my analysis: https://steemit.com/bitcoin/@investingtips/i-m-out-of-crypto
@haejin has kept all of us SANE! Thank you so much man!
hope!
$7,965 it is possible for as long bitcoin remains under the Ichimoku Cloud.
Could you do a TA on BitShares if you have the time. I can’t tell if this TA is correct or if it’s not going to get as low as the chart below (around $0.20). I’m hoping it drops when BTC drops more but it’s sitting at $0.38 right now and thought it was going to be lower by now. Thank you @haejin
It is already burning a lot of collateral. I can not imagine what happens when it goes to wave 5. 🙈
Nice count. The wave 5 is sitting at prior support zone. I believe $0.18 or so would be a good ladder zone.
Thank you for the reply, I will ladder in :)
Bitshares is a long player, real long, cause Dan the creator is 1000% EOS at the moment.
$0.15 - $0.085
How are you sure?
Nobody can be sure..that's what i expect
What are people's thought about holding most of your portfolio and trade with 25% of your portfolio? So sell at a higher price and by buy at a lower price to earn more bitcoin.
I personally think it will bounce at $8000 cause of strong resistance levels https://www.youtube.com/watch?time_continue=3&v=O8QAZzKrUOs
Would be interested to hear what others are doing?
This is what I do, but not just to earn more BTC, to earn more BTC, ETH, and VEN right now. Mostly VEN, stocking to the GILLLLSSS.
Yes man, I think a lot of more people should try to do this rather than just worry about this crash.
Thank you so much @haejin for this last update, it was helpfull. During this dip and following your advice, I started reading Elliot Waves Principle and it's enlightening and empowering. I encourage everyone who has time to do so, it's not that diffucult actually. Very interesting to realize that masses psychology follows patterns in the markets. As soon as I have Steem Power (couple of weeks hopefully ^^), I'll be able to contribute more to your articles.
One of the most powerful and powerful secrets to success in investing in digital currencies is the ability to Hodl, which means sticking to your currencies and not bow to the fear of losing and selling at such a difficult
Good analysis... I bet 8k is a strong level to watch for, if broken it can drill down to 5k
My analysis with simple technicals. This was yesterday stating the 100 SMA is a strong support which is broken today
Sharp downside will be followed by sharp upside !!!
The crypto market caught the flu!
The flu has been going around here in the US and the cryptocurrency market seems to have caught it too! And now it's vomiting. Just like a person having the flu, the market also needs to wait it out - there is no real medication for this except for time. But even in this bear market - you gotta love it, the highs and the lows, it's all apart of the rush and excitement of the crypto market - it's like gambling but you know your investment will eventually be higher than it was previously at some point in the future due to the low adoption rate globally and the laws of supply and demand and cryptocurrency's deflationary nature. We're going to see some tremendous growth in the overall market cap this year and beyond and I'm so excited about it! This is why you shouldn't get discouraged with your losses, this is the time to learn about the market and really dive into the projects that you want to hodl long term. If you really believe in blockchain and cryptocurrencies, you're in it for the long term. And in the long term, you will make money if you invest into solid long term projects. #rags2riches
Bitcoin right now
waiting for that 7500 or lower :D
Let's see, but i think it's not gonna happen
nice
Translation: BTC is headed for $6k.
wow..you create a great post...
BitShares?
Haejin Quick read this! is bitcoin dead!
https://steemit.com/bitcoin/@yumyumyum/quick-read-this-is-bitcoin-dead
https://www.isbitcoindead.net/
Wow amazing @haejin
How much You (or anyone) think would be the price to say "ok, it's THAT low so I should buy a heavy ass fat quantity of BTC"?
Just remember at a certain buy point there will be some massive buys from massive funds or whales, and price will shoot up and never look back. So keep your ladders tight.
I am and i will <2+1
I would ladder in.
haejin, in the big picture perspective in the elliot wave supercycle, once bitcoin reaches the peak of wave 5, how deep do you expect the ABC correction to retrace down to, I saw the old video you made on this topic and was wondering your thoughts on it now
thanks
Good one!
OMG I almost forgot the Sacred rule of ladder in, I asked that because that question pop in My mind, but You are correct, and that makes my question absolutelly invalid.
Thank You, I feel a little more smart and self aware.
You ladder out at the same ratio you ladder in, or a little less, more?
PS: Again, thanks for takinf the time to read and respondind <2+1
Think I need to invest more in cryptal currency
certainly at this moment, with a good ladder! discounts everywhere... !
I will cast my first buy ladder around 8.5k. I don't think BTC wouldn't touch support line, or touched it in fleeting moments. I would just buy little above the lowest of low and call it good.
Just cast one around 8500. next one is 8200
Bitcoin will go back up eventually. People panic sells and after the selling , upward movement starts. Corrections are necessary. If you play it right, you make money out of it 👍👍👍
Ty, sensei...
Bitcoin now!!!
You don't believe that how much you are useful for us because you are giving us an important cryptocurrency news almost every day. I love the way you are sharing your knowledge with us.
Keep sharing such news with us. :)
I'm disappointed that we can't read the other articles that Haejin posted today. An hour ago we couldn't read this post either. Perhaps, if we upvote the articles that we can't read, they may become available????
There is a link in the article that you can click to show it even if it has been downvoted.
Where is the target Bitcoin within December 2018?
Top
It's doing what I thought it would. Now I hope that we keep going in that direction! It's what you've been saying for two weeks. I'm watching others too but if this comes out, you will come out of it well too!
its happens every year. at the begining of a year btc rate get down and then it rise rise and rise.
I can't understand,how can earn bitcoin.if you give me some tips then i can understand what is bitcoin.
Unfortunately a master class is not the place for questions like this. You are in a little over your head here. This should help: http://bfy.tw/2k9b
nice
nice
I really hope that it goes back up soon. I doubled my money on bitcoin but now because it's so low my money is halved. So, I'm holding and hoping
The conclusion of this analysis is equivalent to my own conclusion:
https://steemit.com/btc/@kalmaxx/btc-snapshot-and-buy-signals
The price range 8k-9k should be the final support of this big BTC bloodbath.
Now BTC will have to consolidate this support 8k-9k, and in the middle (end) of February, BTC will begin to show great signs of recovery.
Looks like we are flying again :) Your chart has been more than correct and precise. This is the very first dip I invest using Elliot Waves with your help and it gives me confidence for the next opportunities. Thank you again!!!
Yeah he's wickedly accurate; deadly precise. He uses a mathematical formula that dictates the way things ebb and flow in the world - Fibonacci Ratio. It's really fascinating and when you understand it, you realize how the price is solely dictated by this ratio in a display of human emotion; greed/fear. The candle sticks are a digital representation of human emotion which follows a mathematical formula.
I just started studying Elliot Waves Principle... and yes, as an MAO musician, it's facinating to see that collective human behaviour on a market makes the same kind of "harmonious" waves as sound does.
Just bought BTC at $7500 and LTC at $101! Got out of BTC at $12,000. All due to your analysis and insight. Thanks so much, master @haejin! I would have given into the fear by now if it hadn't been for the awareness you've provided! I certainly owe you one.
Weak hands and FUD is never a good combination. If you don't believe in the technology of the coin that you are investing in, you should get out of crypto RIGHT AWAY. To quote a Redditor that goes by the name Sendmybar:
Just keep calm, and HODL. We're in this for the long run, not for short-term "Lambo/Moon" gains.
Upvoted and followed!
I like your analysis. Let's look out for each other.
Check out my recent bitcoin analysis using Elliot Wave Theory.
https://steemit.com/bitcoin/@sunstellar/don-t-panic-bear-market-almost-over
Don forget follow me @haejin and vote my post thanks you
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lol