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SUMMARY
Technical Analysis is merely a process of identifying as many possibilities, narrowing them down to a handful of probabilities and selecting the primary and alternate counts. I have consistently said that awareness keeps the panic and FOMO away. Being aware of these alternates allows one to first be rarely broadsided but more importantly react accordingly to any change. Awareness can help prevent a trader from bouncing back and forth like a pin ball between panic and euphoria; while seeing his account go to zero. There is no happiness to be found in unawareness!
To that end, as I've been presenting for several days, the below chart is my primary count. I believe we are due higher highs.
The below pretty much supports my primary count but in a slightly different pathway. This is the broadening pattern which I've often affectionately referred to as the Jaws of Wealth. Price is bouncing off the bottom line and I've laid out the Elliott Waves and midterm targets that pretty much jive with my primary count.
Here is my next alternate count which shows that price is merely bouncing off the red A wave and now completing the red B waves. This means that if C wave decline starts, then a five wave impulse down could lead to a low of $8,350. I'm seeing the permabears coming out and preaching this like it's the gospel of certainty. Perhaps having alternate counts into awareness could be helpful for them.
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 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.**
Steem
Wave E may be incomplete in the triangle because it is bouncing off the 1.618 Fibonacci
Thanks @solisrex, I had a feeling this was happening. A little time to add before take off.
yes
On which Platform do you make your TA ? UPVOTE
tradingview.com
free with email registration
Follow you now...
Buy at C!
So.. when is STEEM's BOMB(!!!!) day??
really clear and good analyst
BCH breakout
To the moon !!!
Litecoin started to rise in price from $220 to $300 as well. The increase in market cap is helping most cryptocurrencies rise in value.
You have been calling, I have been waiting..come on bch!!
When you least expect it, by design.
https://www.coinigy.com/s/i/5a514948a7d24/
It is still inside my triangle but I see it too! Didn't draw it here but this bull flag will give it plenty to breach. I have also counted the corrective waves... so if my count is right... sweet!
NEO
Awesome. Thanks for also showing the bear path.
I am really starting to doubt that Bitcoin will ever make it past the 20K mark. Sure it's had an astronomical run, but the cracks in it's architecture are really starting to show (tx costs and tx backlogs).
Obviously, I have no empirical data to prove it, but just like reading charts and waves....It's more of an ART than a SCIENCE!
Most of these issues are because most of the exchanges like coinbase have yet to implement segwit. In coinbase they are not using batch transactions either. Just by Coinbase doing this it will cut congestion on the bitcoin network dramatically . Next year at this time we will be complaining why coinbase hasn't opened a lightning channel. All of us bitcoin users need to apply pressure to these exchanges. I'm personally looking at bitflyer here in the US to by bitcoin with fiat as coinbase is a failure as far as i'm concerned.
Why would anyone buy bitcoin at a site like coinbase ? I've been using bitpanda, they have BTC, BCH, LTC, ETH, XRP and DASH, so you buy the least volatile, send that to an exchange you like and buy bitcoin there when it's convenient.
Is bitpanda open to US customers?
No idea. As luck usually has it, probably not... but give it a test, bitpanda.com
Oh I remember now, they has an exhaustive ID check at the beginning.
I completely agree. I heard yesterday from my buddy it's now taking 9 days to get BTC after your purchase! The market will find a workaround and then Bitcoin will have no choice but to get on with Segwit and speed up the development of lightening network. I bought an interesting coin, ENG that: "Enigma is a second-layer, off-chain network to solve the two biggest blockchains problems: scalability and privacy". Maybe they will come to the rescue. I doubt Bitcoin would move on it though.
Yea it's crazy. I have a like .05 of bitcoin that i have been accumulating with scheduled payday buys that i stopped because of the issues. I think i'm just going to sell it into fiat near the top of the next run up. Set up a bitflyer account and buy back in on a dip. I'm done with coinbase.
In 2018 there should be at least one electronically trades fund for cryptos that will make it easy for everyone to purchase. You'll be able to just open a brokerage account or buy it within your retirement savings account. So you'll certainly have your chance to stash some savings as you get it.
I think that if it falls down, a lot of people will want to buy cheap => rally => even more to buy because bullrun => 25k$ at least. That's why some downtrend to 10k$ could be really good for btc.
Or it will just go up to 25k$ in a few weeks, then something will happen that will make it go even higher, some tech or some new use of btc (nasdaq, amazon or any other kind of thing that bring money into the system)
As long as these cracks remain, I also doubt we will see much dynamics. It will put more pressure on to solve scalability even more, which I believe is possible. When solved, we can see similar dynamics as in 2017 again.
Personally I think Dash will steal the torch from BTC. Everything about Dash looks a lot like what BTC was at the beginning of the year. Dash has an on chain lightning network with 1.3 second Tx and they are on their path to 400MB blocks.
Do you recommend investing in Ripple now?
I noticed when skyrocketing coins like Ripple, Tron, Stellar Lumens peaked. It started to crash in value once it reached it's ceiling. I would wait for Ripple to drop in value before investing.
Wait for a decent pullback.
thank you for your updates.
i finally signed up for steemit to upvote you!!
Good for you! Remember me when you're rich :-)
They are going to short it straight to $50,000.
bittrex and binance stopped the registration,
cryptoworld is becoming bigger ,it s hard to believe btc will go down
Not really a point, these exchanges are primarly btc pairs, so btc falling make alts go up in btc ...
But yes, in a few months BTC will reach 25k$.
btc will not go down
i heard that you can re apply the registration on binance at jan 18th
Any thoughts on the 'staircase/diagonal' on the sell order book for TRON? Curious to see if you have any insights, thanks as always for your analysis and thoughts!
I'm honestly hoping BTC falls a bit more. I'd like the alt coins to run for a bit longer. Once Bitcoin decides to go on a bullrun, the alt coins will get massacred!
They might dip for a few but I would Hodl and eventually you will gain more BTC which means as BTC rises, your wallet gets fatter...Mo Money!
I think the same, let's wait and see ...
Agreed. With so much money coming into the market just now there is a very good chance that it all rises together :)
It crazy why that happens, i think it because there is so many amatuers in the space, Bitcoin prices rises so they want ot buy at cheap price so sell all there altcoins, then go back to invest that money into alt coins, it makes no sense what so ever... maybe you have a different view why this happens.
One thing for certain, its sooo annoying.
Yes, maybe some exchanges should add more USD pairs, so amateurs can stop trading only BTC pairs (like me). It will change a lot of things.
I mainly hodl my alts, not using BTC volatility to take profit on alts, not my kind of trading, just hoping not being crushed by a btc rally, even if I think some alts will be in phase with BTC at some point.
So basically bitcoin will raise or fall.
Feels like I learned something today.
He's saying that Bitcoin will likely rise, although there is a small chance that it may fall. Either way, Bitcoin is not going to be trading sideways for much longer and Bitcoin will continue to go up in the long run.
Go make some cryptokitty memes and let the men discern quantum fluctuations
That's what happens in corrections, you never know when the uptrend will be on again ...
It will go to 25k$, maybe take the path of 10k$, or not, but will go to 25k$.
Surely not liking the 3rd alternate!
hello @haejin could you take a look at Monaco (MCO) it's been consolidating for a while now in a freak show of combination patters. be interested in your thoughts. thanks
My view on MCO/BTC.
Triangle in progress with volume decreasing.
I have projected a bullish outcome but with symetrical triangle you never know...
I've kept Haejin's final target.
Can i get a link to his original post on Monaco if he had one? Thanks
Thanks Haejin!
hello @haejin. I am new in trading and I have joined bittrex few days back.And Invested in some of the alt coins like ripple,reddcoin,Siacoin,xvg.I don't have enough money to buy bitcoin and ethereum so I have started trading in coins which are under $1.I don't know whether I will get profit or loss but still I will learn trading.Does increase or decrease of btc price would affect the price of alt coins or not?As you are cryptoAnalyst so please suggest me some coins.and thanks for the informative Post.Follwed,upvoted and resteemed.I hope you will reply.
Thanks for the information
Yes these are possibilities but what about likelihood...I buy the primary count.
Great help man
Nice post..follow and vote @aneukuteun .restrem
Last was not needed...lol
always good to show alternative pathways to stay aware...
During Winter time, the Polar Bears always come out. But then they eventually hibernate and the bulls run in the street!
Haejin id appreciate your help. DO you ever comment on our posts or read them?
looks like you didnt checked him out much, he is commenting and also update on peoples wishes, he is doing great work, i bet he is spending lot of his freetime in front of his computer
I don´t believe BTC will go up or down in any big way...
There are too much money in it... the whales, the futures, will act in any of these cases.
$4k up or down will be the maximum permited by "them".
I meant, from the fixed point of $15k :D
I replied with this on your last post but, again, I don't think BTC will be going higher in the short term..
Let's wait and see ...
Cup and handle. I think the last bull flag at 16500 is the handle of a big cup.
lol permabears :-)
Maybe hodling some alts make people more bearish on btc in sentiment, anyway a lot of newbie and amateurs like me are full of fear by lack of experience ...
Hoping for BTC at 25k$, but the path could be surprising, so let's be aware of what permabears have to say !!!
great post.thank you for sharing.
lol... last month all your alternate counts worked out in btc...
Nope,we didnt hit 9k
this was actaully tremendously insightful. I resteemed and followed and followed you on Twitter. Looking forward to more of your insights.
Wow . Wave analysis is the best way to predict the marker. I also forcast for EURUSD using wave analysis. @haejin i am getting your attention .
Thank you so much! I had charted your second alternate count very similar, but had not even considered the jaws of wealth! Just goes to show how important it is to zoom out and start over from time to time :)
Nice post! You have no doubt brought your expert knowledge to bear on cryptocurrencies. I am very proud of you, because a lot of steemians have benefitted immensely from your wise enlightenment. I upvote you.
I hope it doesn't dip that low but we will see
Thank you...
Is it just me or are other people watching their portfolio's go through the roof and wondering if it's time to sell off?
Shares are super. If the contribution will be Dogecoin is an open digital currency. Those who make a serious investment until the end of the year can get a good income.
Your last alternate is very similar to my analysis a week ago:
BTC/USD New Year Rocket?
What you will recommended if i want to invest in bitcoin?
In order for Bitcoin to rise more the centralized exchanges need to accept, verify faster new clients. There is in my opinion a lot of money still waiting to get in the market. And then we can also see new highs.
Charts are a matter of probabilities and how strong they are to develop. Here we see there three of them.
The answer is somewhere in between.
I would concentrate now more on Altcoins in order to make money.
vary nice info
Thanks for the alternate counts Haejin!
I agree with both of these predictions, in the sense it'll be one or the other.
Only sitting on a break even stop loss from $15.5k as won't be convinced the rally has legs until it passes and closes above $18k. Then it'll gowards $30k+ for sure.
Thank you for update. Which alternative count do you think highest possibility?
Thanks for the really valuable info! I am starting a blog about crypto in general and alt coins in particular. If anyone is interested to get some info and thoughts, feel free to read...
Shameless disclaimer :) Crypto investor for about 6 weeks. So far a 500% profit on my portfolio.
https://steemit.com/bitcoin/@skibarius/the-fascinating-world-of-crypto-currencies-and-the-opportunities-it-offers
Knowledge keeps the panic away. Thanks so much for making your presence known here in such a powerful way. I've learned so much thanks to you.
The information is very useful. Now his digital currency, after prices skyrocketed, bitcoin emerged a wide range of other digital money.
The information listed here really helped me to understand what it really is bitcoin
OIA, I also have a similar article. Where is the origin of the Bitcoin, read more in the Do you know Where it Comes from Bitcoin?
thanks for your insight, haejin.
Amazing shot