SUMMARY
Bitcoin (BTC) overnight price action has shown a bit of a bounce. IF this bounces continues then the key will be to see if it gets repelled by the upper triangle line.
I have redrawn the bottom line of the triangle by cutting across the price wicks. IF this is correct, the $11,305 is the breach point. Still, I would prefer to see the $8,000 level makr.
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It is going for the second round. Lets hope it gets breached!
How are u @kushed. Guys open your eyes. I am not promoting anyone. But @salahuddin2004 deserve respect for his TA. Look at haejin new drama
enough with this @salahuddin2004 bullshit. Do you think you are helping with this?
Bullshit.
shit bull
Haejin good stuff as usual. I became a regular user of steemit because of you. Your regular updates on btc makes it easier for me to become a holder
I wish you MASSIVE profits!
I'm using a slightly different count on the Coinbase chart including the first peak as part of the pattern. I bought a little just over $10K. So far so good. I'm still thinking we have one more move up before the final E wave. I could be totally wrong of course......
From a couple minutes ago.... 10:38pm EST 1/24/2018
This appears to be accurate, I’d be surprised if this doesn’t happen. Only thing stopping this would be after wave D, it could break through the resistance and go to a new ATH but I’d like to see a wave E happen.
It made it as high as 11450 I believe but has since dropped off.
In my opinion BTC will drop to $8k or even $4k if the market will be weak.
https://steemit.com/stockmarket/@grezsr/candle-stick-understanding-stocks
Price will repel back down and 7-8k is where we are headed...Get your wallets ready!
Ready for what? Ready to buy if it drops to 7-8k?
Nice analysis again by @haejin. However, I would like to point out that Wave Theory states that the E wave often does not complete during triangle corrections. Discussion can be found on p.49 of Elliot Wave Principle by Frost and Pretcher. See below:
"A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. A triangle is delineated by connecting the terminations [of these subwaves]. Wave E can undershoot or overshoot the A-C line, and in fact, our experience tells us that it happens more often than not."
Theoretical Corollary
Yes, I agree that cryptos have their own character, but this does not address the mechanics of corrections and the dynamics of the E wave that I am pointing out. What is going on here is more of a fundamental economic principle that supersedes the peculiarities of stocks vs. cryptos.
Often, cryptos conform to the triangle correction rules quite well. The point of my statement is to say that the E wave moves towards a point of decision. Volume is low, and prices have for the most part consolidated. This is why the price can undershoot the A-C line, as there is not sufficient sell volume to dive it lower (bullish scenario). Conversely, it could break down even further if some more sell volume comes in (bearish scenario).
You're correct. the overshoot is a bearish wick and the undershoot is a bull wick.
BTC breached the point you mentioned, but it is downward currently.
It hit $11,305 and more, but it did not "Breach the white line". If you notice in the video, the $11,305 was marked for 7:00am 1/25/2016 (PST).
So, in my opinion, today's White line top is closer to $11,600 this morning, and $11,200 tomorrow. Still bearish until that happens.
I'd like to see that $8k or so.
The breach needs to be decisive...in other words, stay above it.
oh! I see it now. Thanks for the correction guys
thnx teacher
I wish you MASSIVE profits!
Guys open your eyes. I am not promoting anyone. But @salahuddin2004 deserve respect for his TA. Look at haejin new drama
You should not lie on a blockchain... "Guys open your eyes. I am not promoting anyone."
You are openly promoting nothing but one account, resteeming and yelling everywhere else.
I don't see that saladdin of yours have ANYTHING to teach anyone. He just show off his ta and some claims, just like I do myself..
Haejin is a great teacher, show me a better teacher of TA please?
Fact: NOT ANYONE can teach how YOU find this bullish calls.
Guys open your eyes. I am not promoting anyone. But @salahuddin2004 deserve respect for his TA. Look at haejin new drama
Guys open your eyes. I am not promoting anyone. But @salahuddin2004 deserve respect for his TA. Look at haejin new drama
You are contradicting yourself. You are saying you are not promoting anyone and including a name of a guy who just has 580 followers. If he is really good TA then good for you don’t rub your opinions on others. And don’t try to talk shit about @haejin when you have not even been in Steemit community for a month. People who are following @haejin have been doing that since more then a few months. If you would just follow his posts and read them carefully you would know what he is talking about.
Not only are you a troll, but you could do better than promote a guy who can't follow the rules of EW properly.
No one here gives a shit what you think. We come here freely and upvote freely because we appreciate and value what Haejin does.
Your campaign is worthless
Here is an attempt at EW analysis by your @salahuddin2004 for POWR.
https://steemit.com/powr/@salahuddin2004/powerledger-will-power-to-usd-3-30-prediction-25
So what's wrong with this? Besides being sloppy and ridiculous, it disobeys the fundamental rule of Elliott Waves that states wave 4 can't encroach on the territory of wave 1.
That is EW 101.
It's the first and only chart of his I need to look at.
Do you even know what you are talking about?
Have you ever read any book related to Elliott waves ? I highly doubt it. You'd better learn a bit more, that would increase your insights. You'd have known that a wave 4 can go below the top of wave 1 without breaking the rules : and that is called a diagonal, which can be leading, ending, contracting, expanding. That is also EW 101 as you say. If you don't wanna listen to this comment, at least you could check by yourself what my teacher wrote (Prechter) in the recommended book, if that's not too much work. Once that done, check the weekly chart of BTCUSD and come back with more objectivity.
Have to ignore you ... sorry ...
You need to get your shit right.
Sir you have a nice work how your extension work sir i cannot dowmload that from your website
Hi Haejin, I believe your upper line is at the wrong place. Let me know your thoughts on my assessment. Thanks for everything! https://steemit.com/cryptocurrency/@guntotnhippie/bitcoin-going-to-hit-a-new-low-soon-technical-analysis-btc-usd
Yes, the flag is my alternate.
@Haejin ‘s prediction could be accurate but here is my TA on what I predict will happen.
I believe we are still in Wave B of our correction.
Here are the sub waves for the correction, it appears to be a flat (3,3,5) correction.
This makes more sense to me considering the correction happened very fast and this seems to be more logical when it comes to reaching the $8k mark.
Here is my slightly different approach, with the same outcome. @haejin shows falling wedge, but IMO it may be big and lenghty bull flag - in one of older prediction made by haejin, bull flag was considered. I wonder if something I can't see ruled it out.
I also highlighted, mostly as curiosity, uncanny similarity between wave A+half of B and C+half of D. Check it out, it's so similar.
Yes this is exactly what I saw too. They almost looks exactly the same.
The likelihood of a sideways wxyxz complex triple is not off the table.
Thank you for the reply @haejin it is much appreciated. I enjoy reading all your posts, they help very much!
And here is where we can get, if we keep going with this direction. Below the long and fat trend line. Price axis is switched to logarithmic.
Please ... hat... don't downvote! Thanks.
You sir , @philakone and @criptonick are my inspiration on the crypto space !!
Currently BTC has found some temporary support, at the red trendline around $10500. At the moment, BTC is caught between that red support level and the 61.8% retrace around $11300 which you mentioned, that is the nearest upward target in range.
The 50 EMA (in orange) is quickly falling toward price action. Judging by how resistive the 50 EMA has been, the odds are that it will continue to put any attempted rallies in check.
If BTC breaks to the downside, the formation of a lower low would be highly likely. However, a break to the upside, particularly above the 50 EMA , would be reason to reassess the possibility that we may have formed a higher low. A break above the heavy resistance level would be a very good sign.
However, a confirmation that the bear market is over, will likely come from a sustained breakout above the rising black trendline .
Bitcoin market is different than it used to be. It is now heavily traded by institutional investors, who are generally more sophisticated. They want easy money — and that easy money is currently being made on the downside.
Trade with caution, Trend is our only friend.
2 days ago when it’s started dipping again after a day of recovery, I sold all my crypto to tether instead of riding it back down, and BNB, the binance token was the first to start moving up so I put everything in that and it kept going up so right now my entire portfolio is BNB, lol. I’ll buy back my normal portfolio tomorrow though, ADA, XLM, WTC, POWR, ICX, ETH, DRGN, NEO are my biggest holdings.
awesome work haejin. please see my work too gentlemen. i'm 3/3 with major predictions for BCH. can i make it 4/4?
https://steemit.com/bitcoin/@philakonecrypto/bitcoin-cash-jan-24-technical-analysis-long-term-target-t1-usd5-270-t2-usd7-701
What is the Best Cryto for 2018 Investment that will return maximum profit
Are you on discord @haejin ?
Thanks for all of the great info as always up to date on BTC.
until now what price
@haejin
Please spare a Upvote thinks
Hi @haejin ! GREAT Post, i just upvoted you !
Nice job Master Lee! \o7
새 전망은 8k보다는 좀 더 충격이 덜하겠네요. 꽤 흥미롭네요.
informative post..thanks for sharing this valuable post..good job
thanks for sharing man
it's gonna be interesting the next days, i guess bitcoin will set new all time highs soon
Thanks for the analysis great learning from you. Thanks to steemit for meeting u
Good morning hero So still the trend will be down not liking the fall of this coin hahahah many are stuck there @haejin love ya brother
I wish you MASSIVE profits!
Video is not working..
Thanks for the info, keep it up!
Steemit needs a way to stop these trolls.
Thanks alot for update, video not working but enough info. Today is going to tell the tale. Going down now so might be testing support.
If you could check out my TA Haejin i would be honored. Thanks.
https://steemit.com/bitcoin/@martinf/5v7zsz-bitcoin-btc-morning-update
please can you do TA on snovio thanks
Its graph is confusing right now because I saw 4 hours ago it was going up now it is going down, so it is so difficult to understand the real situation.
Great information! Steem is the best.
Thx!!!
Muchas gracias por compartir tus análisis
Thx for TA. If anyone wanna participate some airdrops check my blog :)
I do not think that $11,305 is a mark to look for in the short term. I do not see that as an entry point.
Every break out to sees an immediate counter by those who are stuck in too high and eager to get out break even.
I think we will see $5,000 before we see higher than $14,000.
Either way its a fun ride!!
Dude change the title of your posts, make it universal. It's morning in there, night in here, noon in somewhere else
My first fractals! Similarity on these two, eh?
Little bit more thinking;
So you're saying it'll go down?
Another great effort
Bunches and bunches of butt hurts going on around here.
thanks, happy today
A breakout outside the triangle would be quite bullish for BTC. I think to be on the safe side we would need to see a close above the resistance level around $13k and hold for a confirmed change of direction.
Happy trading
I have been following you on Twitter forever and just signed up here at Steemit. Keep doing what you are doing and I will keep learning! Appreciate it.
Bitcoin really seems to have fizzled. I was reading that people were predicting it to go to $25,000 this year. Sure glad I did not buy into it when it was $18,000. Yikes!
Anyone think ripple or xlm will take off? Everything looks floppy right now.
맨날 틀려;