SUMMARY
A few weeks after when Bitshares (BTS) was delisted by Bittrex, my blog had analyzed and recommended a ladder cast buy at $0.045. Many had criticized the bullish call saying BTS was a shitcoin and feared maybe even Poloniex might delist it as well. It's almost always in the midst of great fear when such buying opportunities arise.
The below chart shows BTS making a lower low. The retrace has passed through 0.78 Fibonacci zone. The square root of 0.78 is 0.88 and that level is currently at $0.128 and the horizontal line shows that there is horizontal support at that level as well. Similar to back in October 2017, fear sentiment towards BTS is again elevated. Is this the ideal time to be taking Buying or Selling actions?
A closeup chart shows an updated label of the correction. The yellow WXYXZ triple three label each has abc subwaves as shown. IF price is working on the Z wave, its red abc sublabels show that a,b are likely placed and c is in progress and the 0.88 Fibonacci target is the next likely stop point.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
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
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Essay: Is Technical Analysis a Quantum Event?
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Man i would have bought it but you know what? Don't have any extra money right now and all those investments which I had in bitcoin, I am losing a big deal there.
I bought it at 16k and look now where it is? :)
Sell in USDT next time, and buy the dip
USDT? It's a straight up scam dude read the user agreement. Use BitUSD if you want something that actually has backing.
I think thats what he meant, wasn't really the point of his comment...
Yes, sell high...buy low...The experts are pretty bullish that BTC will rebound. Based on the numbers, I tend to agree, so @suf1an, be encouraged. Of course, I'm sure you have your strategy in place for a buy/sell limit.
I sense most people who bought in @16K expected it to keep booming without the 'unforeseen' glitches. I didn't follow the Elliott Waves on this round of the upsurge; but, I'm sure there were prolly warning signs that it would take a dip.
Best regards.
Peace.
Most Haejin predictions have failed over and over again, including dozens of his TA on bitcoin. Not saying that its the end, but his constant posting is amateurish and he himself seems to be seeing the trees and not the forest.
there are millions of followers for zuckerberg's dog as well ... just saying :)
I'm so heavy on BTS that I'm sad and happy to see it at this stage.
Happy to accumulate more coins, but sad to see it struggling that much through the correction.
Thank you for the update !
I was really heavy on BTS also, i still hold a strong position but honestly, im getting a little worried. The price fluctuation has nothing to do with it either, i also don't like spreading FUD. I'm just worried about the integrity of the project, and how finicky the actual product is. Iv done more research now in his interviews and roadmaps, Stan is very well spoken, and intelligent person. Especially his son Dan, but will BTS really be viable?
I think it will be dane...many don't realize how many companies have moved over to Bitshares for logistics and payment remittance...plus the volume of people signing up is just going up...DEX's are the future..Bitshares has been around way longer than these others coming out...they will have major issues getting volume..it will take some time
thank you for the input my friend !
With more regulation coming DEX's are the future...I've been laddering in the last few weeks...if it goes lower i will buy little pieces as well
I don't understand why it's not going up, since it's one of the only coins that can comply with regulations as an OPTION. It should be going up... Plus with STEALTH? It has everything, plus it's going to Eos soon. Honestly, I think it's just too many dumb investors in Bitcoin. BTS is labelled an altcoin in the algorithms, which all correlate with Bitcoin for right now.
People believe in BTC and the rest is just as an alternative that does not matter right now. It does not matter how good the product is. Even STEEM is going down because of BTC price.
I’ve noticed a lot of negative posts every time you post something. Amazing how people take the time out of their lives just to say something ignorant. I’ve made a lot of money following you along with my own research. But I’m forever grateful for you! Your light will always shine. Thank you!
@haejin every time you post am always in haste to read your post.
Even when people mock you sir i am always ready to read your post more and more.
Its really a pity sbd is falling but i truelly believe in steemit.
Thanks, I bought BTS at 0.5 because of that post of yours, thinking I'd use the Bitshares exchange. It was too slow at my laptop though so have not used it much but got a nice profit from the coin :)
Thank you! When will it hit 300+???
That was a multi year target of 3-5 years. It never was a tomorrow projection.
I cant wait for this to happen! I can see there are a lot people expecting this to explode soon but I think it will take time. There are greater rewards for those who hold it during the up and down markets!
Still see it as a good long term hold?
Also see it doing ok once market recovers short term?
Thanks for your TA, alot of abuse going around currently which is sad, no one has a crystal ball for this stuff!
Hi there.
I recently deposited some BTC into my Bitshares DEX in order to exchange for some other cryptos... however when I attempt to exchange I get an "insufficient funds for fees" error for not having any BTS. When I try to get BTS.. well that has a fee too. Can someone send me 1 BTS to michal-dziadkowiec, so I can start trading?
You get it squared away?
Yes, thanks.
Thank you @haejin for the update, it is much appreciated! I’m sure we will see BTS on the rise again before we know it, definitely a buying opportunity!
I'm still curious about the flash crash you can see on the chart on March 3rd. A huge volume spike and price tank indicates someone was cashing out. I saw this happen and wondered why given the price was already so low compared to the ATH. Any thoughts?
I just watched your Elliott Wave tutorial; and, can say that you earn your income by teaching. I'm reminded how people pay thousands to universities for learning this 'trade' (pun intended).
Amidst all of the drama associated with your blog, I can honestly say I enjoy watching your analyses of the various assets. As a novice, trading is a hobby. Tools such as the EWs are helpful in making decisions.
Something tells me that BTS will merge with EOS. Some have hinted that it should become BEOS. Looking at the numbers leads me to believe that it won't sustain as a viable asset. It was formerly ProShares. It didn't make lift off as that, and became BTS. I expect that eventually it will gain traction; but, the name will change. (JMHO).
BTS is a case of 'know your developers'. I expect this asset is a case of tweak it til you perfect it. For all who are HODL I hope so. I have to admit I'm a bit concerned that everything Open Ledger is valued in BTS. I remain hopeful that should the name change, those invested won't come up short. As a novice, I'm sure there are a few stories others have to tell.
From the looks of the eyes that have landed on this page, others are extremely interested in what you had to say about this plummeting asset.
Btw, just a friendly note: I think you meant 'Talking' in the title.
Best regards @haejin.
Peace.
Your total update of crypto just fake ...No idea about crypto...Actually this post is fucking one..That's a bad post ..I don,t like this post..
Actually I don't follow your post..I fed up by your post...😩😩😩😩
This is actually a good one and shows what is happening to BTS.
You looser of life
The nigerian prince is back... Do not answer his emails!!!
good money cryptocurrency blockchain post thank for shearing
i was just posting if haejin took the day off. gues i was wrong. he's back and hot like hell. posting every minute
Nice your post
@haejin
@bitcoin
Good post
@haejin
Low on the curve, might be a buying opportunity.
Thank You so much for the info but i would like to buy for now! :)
Why would you sell at this point? Its a BUY and a good looking chart. I am finding more trust in Dan Lerimer's products the more I use STEEM and see the vision of EOS
@stereo3dmagazine, that is the sad part of the game, more people panic and sell during downturns than see it as a buying opportunity.... :( ...just bought me more at .15 cents!
Isn't there fear because of EOSfinex which takes away one of Bitshares best features? Technical analysis is great but could you clear this up for me? Thanks
I think that they are two different niche products that can coexist. EOSfinex for big corporations and Bitshares for micro traders.
There is still a good possibility that bitshares becomes a side chain interacting with EOS.
I'd say it's more than a good possibility as Stan has stated many times Bitshares 2.0 + EOS = Bitshares 3.0 they are already working on it ! But they need to put out a killer exchange as EOSFinix is going to give it some serious competition due to it being so well known
TIME TO BUY!!!! Clearance rack, YAY!!!!! Thanks for the update!
this is just shit
nice post
I little dip more and I think it would be the perfect time to buy lots of it.
Great Article. Really love what you have to say
BTS was the first coin I purchased after exchange. Wish I had much more to buy now.
very nice post
BitShares is one of the best projects out there. Buy the fucking dip !
how does it come to like it. Teach bidee.
Nice review haejin. I like the way you use trend lines as it is the way I analyze the market too. To bad the fundamentals keep messing up our analysis! I will look at bts. It looks like a bargan, but I am more into exchanges that are very user friendly like the one being built by blockport. What do you think of BPT?
Just bought more btc and ethos. I really believe in both. Bts may be a good investement.
Thanks for sharing mate
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Hodlers gonna hodl.
I believe in BTS but they need more coins on the exchange. If they had half the coin selection of a Bittrex or Binance the liquidity would grow and the bts price would definitely moon.
Haejin uses EW to predict future prices. It doesn't predict timescales, so his predictions could be a long time in coming to fruition. A lot of people don't realise this and follow blindly hoping to make a quick buck and that when he makes a prediction it will happen in a matter of days. He is the best out there for EW however you have to realise the above when reading his predictions.
I'm still still undecided about the mantra "a news or event will arrive to justify the forecast". Crypto could well be a different beast and the tail possibly wags the dog meaning BTC dictates what happens to all ALTs. In addition despite being decentralised technology, the market is clearly manipulated, Reducing the effectiveness of EW, resulting in predictions that look wildly optimistic or even incorrect. In using past waves to predict the future trend, it can also look like a person using EW is constantly changing their mind, as they react to what has happened, and update their prediction. Again this looks more like a prediction based on an event that has just happened rather than news or event arriving to to justify the forecast.
Sorry for long reply but in short people should stop bashing Haejin and instead understand the above principles and appreciate the insight he gives, rather than following blindly. Yes he is earning huge sums of money in STEEM, but we happily let footballers get paid $300,000 a week so let's put it into perspective.
Hey friend thanks for sharing your thoughts but if you don't believe in Technical Analysis why follow a blog which only does Technical Analysis ?
I will meet you half way and agree that since EW does not give a timeline it's effectiveness may be reduced when used alone, since during that time manipulation or event can occur which fundamentally changes the predicted future pattern. This could be especially true in the pump and dump culture of the crypto space which is still in its infancy. The price can jump or dump on the back of a comment from a prominent YouTuber.
Oh and the Bible seems to have done a good job of predicting a One World Totalitarian Government and Currency, which is where we are heading !
I'm sure you are clever enough to understand the point I was making.
Nothing stopping it from going to $6.0 except your time constraints.
The Elliott Waves are interesting...somewhat entertaining...All aside, I trust the numbers are far more revealing. A 2Bil circulation with little more than half a mil in caps is a tell-tell sign that things will eventually change. I'm optimistic for the better. The BTS concept is valuable in and of itself. If the name changes, the concept will remain. I'm not sure if people were satisfied with the transition from Pro Shares; but, by the fact that people on the platform are still very supportive of @dan, et al, I expect things fared well.
Best regards.
Peace.
Downvoted for self voting/hypocrisy.