SUMMARY
Overnight Bitcoin (BTC) price action has taken prices to sub $8k temporarily. The bottom line of the wedge pattern was temporarily pierced and price returned back inside the pattern in a hurry. So, is the bottom in? Well, it could be in; but a correction bottom is never an event but a process. That process is measured using Elliott Waves and Chart Patterns. If the final five waves of the diagonal is to complete, the blue waves show a probable pathway. It means that the current bounce could place the wave 4 and that means one more lower low. This low could pierce the lower line once more and generate another bull wick by coming back inside the pattern. This pierce could take BTC to $6,800 or so and to me that would be ideal as it would wash out the final remaining weak hands.
The sellers are running out of bullets! They have fired most of their ammunition and there is a finite number of sellers and that number is dwindling with each passing day of this correction. That is why price is well within the wedge pattern. Given the potential liquidity shortage that occurs when there comes a point where not a seller can be seen as they've all sold; Bitcoin can explode violently upwards. The below chart shows the near precision crossing of the Apex by the 0.618 Fib level zone. This is significant because it's not just coincidence but rather because it's a level of likely bottom region.
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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BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
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I'm starting to have my doubts that BTC will turn around from these levels.
I sense further DROP in BTC.
Bottom is near $3000
Hey Haejin. Don't forget that old coin... you now the lightening fast one. Super cheap transactions. Incredible scalability. So undervalued it makes your eyes water. Oh yeah, I remember, Bitshares! :)
Wall street entry,Bitcoin flying
https://steemit.com/bitcoin/@salahuddin2004/update-for-bitcoin-as-wall-street-jumps-in
Dude salahuddin was talking shit about Haejins TA and was talking about BTC not going below $8500 lmao! IT HIT BELOW $8k last night! Stop spamming his posts, he doesn’t know wtf he’s doing
He was actually absolutely sure it wouldn't break 10k with conviction. In life I have discovered, anyone who preaches absolutes in anything is 100% full of shit. I am following him as of a week or so to see if he ever actually gives ANY analysis with his predictions. He just mentions resistances or fibs... dude seems like a farse to me.
Saluhuddin is trash. He was spamming last 7 days that btc will NEVER reach 8.5 k , that it is silly dream. It went to 7.5k. He is not a serious guy.
It's just a spambot.
BITSHARES FOR LIFE!!!! <3
Yes, Bitshares are very interesting ...
market sentiment isn't based of off functionality, it's based off of familiarity and price momentum.
My charting looks like BTS might be done the ABC... correction might be over. If I didn't have a steadfast rule to covert to BTC upon correction before buying any more alts, I would be a buyer now.
My chart says theres still wave 4 and wave 5 (this chart was from a couple of days ago) it’s a flat (3,3,5) correction so we should see a wave 5
I believe zigzag
Hmmm I'll share mine when I get home from work. I had the same pattern, I may have been wrong on the count.
I admit, if you put this on 4h or longer my green A is kinda of a stretch...probably wishful thinking... I'll defer to the on wave 4 thought
My Bitcoin price targets for the end of 2018! https://steemit.com/bitcoin/@investingtips/bitcoin-price-targets-for-end-of-2018-preview-the-moon
i think it will rise now
the market doesn't care what you think ;)
yup
really hoping this is the bottom, thanks Haejin!
Thank you as usual :)
Great video... starting to ladder here... my trigger was $7,780 so the first got triggered... maybe fib for the next step. Will we get a 61.8% retrace from the top?
Hi Haejin,
Thanks a lot for your very detailed morning update. Here is my question :
I noticed that you have changed the previous ABCDE labelling of the correction for a 1-2-3-4-5 count. Do you think this wedge will break to the upside and directly lead to the next impulse or you think this is only the first wave of a larger ABC correction ? I must admit I am a little bit confused since I thought a leading diagonal could only be contained within a first wave (wave A in an ABC correction).
Thank you !
Yes, as a leading diagonal, it could be an A
The rise needs to be counted carefully. If three waving or impulse
Thank you !
Try clearing your web browser history to fix your mouse. Ctrl + Shift + Delete change to "all time" or "Everything" and restart your browser.
Can you readdress this Market Cap H&S that formed?
Yes, I’m aware. It was presented early in the week
You presented it earlier this week as something to keep an eye on if it completes. It completed; That's why I asked if you'd readdress the analysis, and possibly explain outcomes as the neckline has breached. I believe this is also the sentiment of people who up-voted me. Thanks for the help.
upvote this comment cause it is a very very good point.
Can you link to @haeijin's post discussing this?
This is mine. Enjoy and follow me!
no matter what others say... I still think you are the BEST. thank you. it's a pleasure to watch your analysis everyday!
Than you
The white Elliot downward wave, 4th wave has entered the zone of wave 1 so it shouldnt be validated. Unless we're talking about an ABCDE triangle wave then i believe we have just completed the E wave.
The "E" wave needs 5 subwaves, and it only has 3.25 so far 75% of 4 needs to finish, then 5
Leasing diagonal has no letters
I believe this is a great time to buy. I'm probably going all in with currently available cash.
I’m not. Laddering in
All in is not a smart investment strategy.
Always thx to you haejn sir!
Media says the bubble is about to pop! 61% pullback! The air is out. Their biggest issue is: 1. They spend no time on any given topic and are very uninformed on anything they report about. 2. They are not experts and simply listen to the most attention screaming guy (if it bleeds it leads) 3. They very well could be on the book.
When the media is at it's most negative is when we should be the most Bullish! Let it march on! BTFD!
Master Haejin - 1000x Thank You for your Analysis - giving me so much confidence and good guidiance :)
therese a saying "if you are not an expert, look for one" !
1000x thank you - you surely have a big part at my future-wealth :)
cheers, keep up the good work and lots of luck and happiness in your life!
I wish you MASSIVE profits!!
The last support is 8500$, it will again grow from 8500$. According to my analysis, you will see Bitcion 20000$ before March 2018
Haejin is always wrong in correction market. HAHA!
Must be really banned .... Bitcoin and Co start again today. Do not let it unsettle you.
Please consider my blog. I currently have 70,000+ followers on Youtube, Twitter, and here combined where my goal is to help improve the crypto community. I'm a crypto analyst in the community with high accuracy calls, and a focus on improving YOUR trading game in a concise and educational manner.
https://steemit.com/bitcoin/@philakonecrypto/bitcoin-btc-feb-1-in-depth-fundamental-and-technical-analysis
the question is, will we break resistance level and hit 5k????? or is this really the end of the selloff??
A way to find out is to wait for it to go up, then come back down. If the down correct is above the current level, that means probably the low is it and you buy then.
MACD suggests this is less likely but 6900 is still on the table.
20%....lol 20% would be nice yes.
Thank you Haejin. I was wondering if this was just a bounce or end of correction. Still lots to learn and hope I get heaps out of this experience. It is a difficult time for all the newbies like me. Your opinion is much appreciated.
I think a bounce
Thanks! Here is mine:
Fake glass shatters but no cuts!
It's gunna break through that Glass Ceiling like a dyke women in on wall street
Thank you Haejin, insightful as always. Im wondering your thoughts on ETH following the same pattern as BTC... im waiting to pull some ETH out at the top of wave 4 (to avoid a loss) so i can buy BTC on the dip. I'm struggling to find a pattern in ETH and pick a top for wave 4...
Thank you, master!
Retracing now, I bet that...
Fantastic analysis, thank you! I too also hope the weaker hands are shaken out, we only need strong hands in this crypto HODL game ;)
We are already in the process of people buying the dip. It would have been the perfect day to buy Crypto for sure!
i think the second dip should not be less than 8k
german market dipped to 7200 Dollar on bitcoin.de
got a big delicious bite ;)
Thank you~!
Thanks for the awareness. On the mouse problem, have you tried using a different browser. Not a complete fix but could be temporary.
Great info as always! Thank You master Hae jin.
@haejin 's TA is always in 95% confidence level. You are the reason I remained calm during this vigorous correction process. Thanks for your supports for Crypto community.
Bottom is close and Stocks are down.
Rates are rising fast.
If we could predict what will have happened in the future, everyone would have a fortune today. Risk and hypothesis are the same thing. We are all in this game, with a hope at the end :-)
finally double digit growth on the hourly !
I see a bullish flag pattern.
We are starting to see big buy volume on exchange walls at the 7k area, it does look like we have ran through the selling walls. I was worried about breaking the 8k wall but volume seems to be moving to support, limits?
Wow.. Life is good bitcpin
Stay strong, don't panic..!!
Black Friday of Crypto's:
https://steemit.com/cryptocurrency/@priyathamreddy/must-see-post-for-all-cryprocurrency-investors-right-now-black-friday-of-cryptocurrency
I was hoping that you weren't right, but this is probably a good buying opportunity if it goes below 8k again.
Thanks Haejin, in a good time your video!!
I think you're dead on mr. haejin. Your analysis is always a helpful opinion.
Thank you for the heads up if it happens in the next weekend i will buy and hold. 🙈
Thanks for information
If you are receiving this message, you have been flagged for responding to a known scammy piece of shit. Enjoy your dwindling rep. Here is how @haejin supports the community.
P.S. - His 21k followers are complete bullshit and most are inactive and have been for months.