SUMMARY
Bitcoin (BTC) overnight price action has maintained it within the wedge pattern. The Bull Wick allows a rapid and clean washout of remaining weak holders; the would be sellers. Many have panic sold during the temporary breach of the lower wedge support line. The chart below shows that I would like to see for a bottom to be declared. The video has more details on this; but basically, three rounds of impulse would be ideal. As shown, these three rounds sum up to an impulse of higher degree of tredn (blue waves). The second round of impulse would ideally take price out and above the upper white wedg trend line. However, still, price proximity to the Apex of the wedge is about 15 to 17 days out. For a bottom, I'd ideally like to see the proximity shring to less than 10 days.
This chart shows the fractals as had been presented before the the Head & Shoulders. However, note also the V-Neck reversals after each. The size of these V-Neck reversals also reduce and the most recent bull wick is the smallest. Having one more, much smaller repeat of this fractal would be ideal, as shown in below chart. It'll bring price peoximity to the Apex closer.
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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@haejin, my analysis is very similar in targets to yours :)
A small difference in the waves but same destination.
Please check em out theres a lot more :)
https://steemit.com/bitcoin/@crypto-outlet/btc-analysis-short-term-bigger-picture-yesterdays-targets-hit
I present a count where wave 3 is in progress already and we should see more upward momentum on a short term.
What do you think is wrong with this 5 wave count? not considering the extra candle wicks?
is there anything else I am missing that doesn't make this a more probable count?
Leading diagonal
A good plausiblity for sure. It would become invalid once a full impulse is in at five waves up.
nice!
That would clearly enable a breach of the upper line of the wedge and a breakout! Then it would have happened too far from the apex...not the most ideal. I'd much rather suffer through another lower low potential and get a much stronger bottom breakout.
anyone help me its going up?
I believe it isn't quite done yet. Still more weak hands to shake away. Positive news yesterday though from the SEC has helped restore a lot of people faith though.
I feel like we're not quite done yet either.
Why does my comments on haijen's posts get hidden yet I get a lot of votes on them? I am no t being disrespectful or anything so I am confused?
when you on their list, they will downvote just everything of you, they are doing it with my comments since my first comment on haejins posts
Bernie and a bunch of bots automatically downvote any comment directly on @Haejin's posts. He's on a vendetta against @Haejin and has no problem downvoting minnows. Sometimes @Haejin will make a comment after he posts and people just reply to the comment instead because the downvote algorithms only downvote comments to the article not replies to the comments at this time. Sorry you got hit with the downvotes, I'll give you one of my little upvotes on your reply to try and help!
Thanks for the explanation mjo
It doesn't even matter, reputation is irrelevant (from what I've researched) unless you're trying to start your own blog and want the number beside ur name. Haejin would potentially be able to boost you up if you get too low of a rep hopefully.
If someone could explain rewards pools or link me to something because I see Berinie's flagging war as futile and irrelevant.
I'm also being targeted. My rewards are being voted away. What is it he thinks he's accomplishing?
It's funny how bsanders tries to convince everyone in the comments that haejin is responsible for all of this, yet he continues to indiscriminately downvote the exact same people he is trying to influence. The result is that all of haejin's commenters end up feeling the same pain that he does, for the same reasons, and it exposes the narrative that this is all haejin's fault as the grift that it is.
It's clearly not the case, I commented at one point a suggestion that we don't use Steemit anymore so that Bernie and his losers can circle jerk each other off and we can have our own platform and Bernie protested about that idea calling me a cry baby, so he clearly benefits from all of this. Typical wannabe politician, looking for publicity anywhere they can even if it's nefarious.
It is a downvote..
Bit harsh to get a downvote for saying I don't think bitcoin has hit the bottom yet, oh well
fixed and reversed.
True gent, thank you
Berniesanders is mass downvoting with his bot army.
but why is he doing so? maybe he is blacklisted
Dan Larimer dubbed him the "Bad Whale" and knocked him down to -18 for his sociopathic tendencies.
The godfather putting in work ;)
there truly is a reason his initials are B.S. lol
thanks for the article and upvote @haejin
If I understand your analysis, the BTC will continue to go down?
Best regards,
@Yehey [ Witness ]
I believe there is a probable scenario for that because proximity to Apex is too far. Closer would be more ideal to enable a much stronger breakout and reach towards the unavoidable all time new highs this year.
"All time new high" that's music to my ears. I guess to everyone's ear.
Thank you for taking the time to reply to my inquiry.
Cheers for now.
You misunderstand this analysis.
@haejin [Witness]
Would be nice to hear your thought.
@HAEJIN [WITNESS] !
I followed you to learn more.
Cheers mate.
.
Nah! Freedom is always the best in any day.
Come join me at discord https://SteemChat.com
What's going with your reputation at -5. What happen?
Blind Witness?
Stop posting salahuddin2004's shit, he never was right until now...
lmao I remember the salahuddin2004 BS - he was so wrong
Chain Death Spiral?
BCH
If so completes, the volume would complete! Well done Friend!
what does it mean, Haejin? thanx for reply
Thanks, coach.
Okay its going up
God. Why me
Nice Sir, How will this effect ETH /BTC?
ETH/BTC will lag the ETH/USD; usually it does. I'll post on that later.
ty haijen
감사합니다^^
Starting to understand why there is a possibly of a A-B-C. The B wave is caused by the bulls buying at the cheap prices. Aware of this the BEARS buy also, but when it get up too high the BEARS get nervous and take profits, the sudden fall creates panic and in a space were everyone in walking on egg shells as it is we could have one lower low.
Remain BULLISH but haejin teaching and study is really starting to pay off. Being in a Bitcoin corretion, for me, helps to understand the process of all corrections.
Thus feeling more confident trading the alts in the weeks and months to come. All awareness makes you a better trader.
let's go to heaven !!!!!!!!!!!!! yeah!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
very good post friends
do you mean bitcoin will dip some more? i dont think so. btc will continue mooning
can you see five subwaves in wave i? i see only three!
@haejin, Is it okay to sell at upper line and buy again near apex line? what does rational trader do at this point?
A rational trader considers more than one possibility when deploying his/her resources. Don’t put all your eggs in one basket. That said, your choices are yours and yours alone.
Of course my choice is my own responsibility. that doesn't mean I should ignore what all other people thinks about how to trade.
I think you misunderstood me. The main point was if you think there are two possibilities with relatively equal and good probabilities, be prepared to act on both of them, relatively equal weighted. The last sentence was just so that you would not consider my comment to be financial advice :)
I have buy ladders ready at the lower low potential zones.
@haejin I still think this is a bulltrap. Saw so many over the past few days. Even with the recent news coming out of the US, I dont think that's enough to sustain good long term growth... There's still a lot of uncertainty in the Asian markets and I feel like that's building up to explode.
I think a smart play is to ride the waves. Buy low, sell high. The next time it drops it's going below 5k so having cash reserves to buy the super cheap btc is going to be a great plan in the short term.
Thats crazy @haejin said dont do your anyalsis on my comments and now i see more people doing it then ever.
Haejin asked not to link to other posts. That is different from posting a chart in the comments. I am not necessarily supporting one view or another, just clarifying.
My comment wasn’t directed to you or anyone in particular.
Thx again and again
You have been so accurate on this chart until now. Thank you so much @haejin
General TA question: During a correction can we still be considered in a "bull market" or is a correction of this size always considered a trend change (Bear Market).
Maybe we saw BTC surge from 2 - 20k last year becuase of the "dumb money" investors only using Coinbase/ not being aware of the Altcoin market. Does that suggest that BTC gains are "dumb money" and alt coins are "smart(er) money"? In that perspective we'll have to wait for the herd to become comfortable again to start greed buying BTC. For that to happen I think we'll need to see BTC break it's last ATH.
I know people personally who were trying to get into BTC in Nov/December and are all smug now thinking they missed a "Crash", when they see it start to rebound they'll FOMO for sure.