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SUMMARY
STEEM is setting up a very long and powerful Bull Flag as shown below. This has retraced about 50% of the prior rise which is a very common Fibonacci zone. Once price turns, it'll be violent but in the upward direction. So, BTFD!! Buy the Freaken Dip! Note how price exploded out of the prior triangle, near vertically. Such vertical moves are not sustainable and that's why STEEM needs these three steps forward and one step back type of advance-consolidation steps. So, EXPLOSION is IMMINENT!! $14 could be Dead Ahead!!
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.**
Thank you. I'm so excited to see your graphs as of late. So many predictions of coins going up. I hope you're right. :)
That will be great if true! Fingers crossed!
$20 Steem would be music to my ears!
WTG STEEM! Keep this train rolling!
It is pretty, you teach THE most valuable skills Haejin. My post on STEEM/BTC from 5 days ago is so close to reality now!
https://steemit.com/steem-btc/@thedolphin/steem-btc-bulltrain
This is the best time to add Steem to your porfolio, convert to Steem power, and like Haejin's posts. It's a win win for both and steem would rise making you profits and your likes would have more weightage - benefitting Haejin. Please consider this. Thanks
I have seen you post this before. can you explain how it works. I have steem if I convert to steempower does that mean I no longer have steem? TIA
You'll still be able to turn your steempower back into steem, but it will take 2 years to get all of it back out (they split the payment up into 104 parts). It is not very liquid. The pro is you do earn a very small interest rate on steempower.
This is actually only 13 weeks, not 104. Was changed several hard forks ago.
jfc, I'm glad. 2 years was so unreasonable. Thanks for the correction.
Where will this leave sbd? Should I convert my sbd to steem ASAP or will it drag the price of sbd up with it?
I would think Steem should be more valuable, as it has more utility, but I can only speak to fundamentals. @haejin is the master of the technicals.
Thanks for the reply. I don't have a lot of sbd but obviously I would still like to maximise my returns. So I'll switch sbd for steem today. Thanks for the advice my friend
I also think that steem will rise
If you look Steem is following SBD's lead
See now that's what I thought. But if @heajin is predicting $14 then sbd must be in the $16-18 region. So I'm better off keeping g my sbd? That's what I wanted to know
SBD, currently $7,80 on Bittrex, but it has also just finished a correction and is starting the next set of impulse waves. Always better to have a bit of diversification anyway.
Thank you for the comments, it's always nice to hear other people's opinions. I agree it's best not to have all your eggs in 1 basket. Looking forward to the ride now 📈
I Couldn't agree more. diversification is the best way to make profit
You better change your SBD for steem NOW... Steem price will overcome SBD anytime soon, and SBD could fall a bit after steem goes up...
Do you really think that? I better switch what little sbd I have to steem. Thanks for the advice. Cheers
Havent you noticed how Steem price have been increasing and SBD is staying stable around 8$?... Nothing is for sure, but Steem seems like the right bet now...
I had said SBDs explosion was leading indicator for steem
STEEM follows SBD lead. SBD is headed for $30+ on this set of waves. The recent spike in volume today confirms this.
How does that work if steem makes sbd?
Idk, i sell mine for steem then power up. I have deadlines im hitting. Next target is 200 SP (Non delegated)
Must say I love when steem goes up
Sorry @Haejin, but your Elliot Wave logic on STEEM is mostly a bunch of BS
STEEM's recent price rise is a big pump of volume. To get it back into approx 30th to 35th place in the crypto market, after it had sunk down to 42nd place. Per CMC. Coinmarketcap.com Take a look at the big volume increases, which correspond to the price pumps on STEEM.
When you analyze price movements without considering underlying volume, you are only using a small part of relevant information. The recent price movements on STEEM are directly linked to volume. When you try to analyze price movement without all relevant information, your analysis is lacking in value.
The larger piece of information to take in to account is this pumping action on altcoins has been common across the board in last two weeks, while BTC price was relatively unmoved. All the money in crypto space has been chasing altcoin pumps. STEEM. SIACOIN. etc.
Could STEEM go to $14? Sure. More than a double on current price. If all the cryptos above STEEM also do a double, then a double of STEEM is entirely reasonable.
But such a price change will have nothing to do with Elliot Waves.
are you assuming elliot waves are what moves the price? Your comment was well written but you have to understand that all elliot waves show is the trajectory of price movements, be it because of volume or zuckerberg invests in it, what ever the reasoning it doesn't matter, the theory works to show the price, but of course it is not why the price moves, I hope Im not missunderstanding you, cheers!
I agree that the volume uptick was the giveaway to steem's breakout above $4. I wrote about this in my recent post, "Steem's Blue Sky Breakout Above $4".
Notably, in the last few weeks of December, steem's daily trading volume per Coinmarketcap was hovering around $6M, give or take. Then it suddenly jumped to over $20M soon after Dan's 12/31 post regarding improving governance at steemit.
At the peak of the breakout run, the daily trading volume exceeded $100M. It has since settled down and the price of steem has pulled back some but is still holding above the $4 breakout level, which is a positive for the bullish thesis.
It is imperative for Steemit Inc to capitalize off of this momentum and roll out SMTs and innovations on this platform if they hope for the bull run to continue.
Thanks for the headsup, great analysis. A good entry would be in the $4.30-$5, which was the previous ATHs back in July 2016. I bough some more STEEM yesterday in the $5.50 range.
Yeah, I think the actual price still a bargain! 2018 will be a big year for steem!
can you add MACD to the graph in the future please?
I rarely use it and only use to resolve conflicting readouts from EW and Patterns.
I'm all in crypto, but it would be very helpful if we knew what the wave count is for the DOW Jones.. as possible forward looking economic situations that could unfold..would you mind doing a primary wave count for the DOW?
That would actually be a great addition along with RSI.
@heajin I agree with you on this prediction. Not so high at $14 but certainly $13 in the next couple weeks. You should check out my Interview with Ryan Wilday. Just uploaded it.
Here's the link:
https://steemit.com/steem/@antonburton/verge-to-usd13-in-2018-as-explained-by-wildtrader-crypto-nights-episode-21
🗅
thnx bought the dip yesterday ,,,,thnx teacher again
This looks very promising for us that are powered up.
Dead ahead means falling price? @haejing thanks!
Dead ahead is the same as (very) soon...
Dead ahead: Target of 14usd will be reached (very) soon
thanks for the explanaition, appreciate.
ure england veli bad...
dead ahead means "in front" or "coming soon"
梭哈
什么?
แกน?
Could you please do an update on Litecoin?
What I see is his last update is still valid. We are on Wave D up to about 0.02 BTC and then back down again in the "Symmetrical Triangle" correction. Then after we touch the bottom of Wave E....UP!
I just counted waves on LTC, let me know what you think about it
https://steemit.com/money/@thedolphin/ltc-going-up-target-usd550
Funny, my target is 16$
BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD !!!
STEEM lets go!!! I'll be buying on this dip!
thanks for this post. following this coin. structure is looking really on 4H chart, price is already exploding! :)
Hi Haejin
I would like to request an Elliot count on ETHOS as it has moved up significantly over the last few days. I was an early investor in ETHOS (BQX) back in July and am keen to establish an appropriate exit price, it seems to be consolidating but I am still inexperienced at wave counts and would appreciate clarification of its probable direction.
ETHOS ticker symbol (BQX) on Binance.
Hold!
Thanks for information.
Nice Post
Thank you for the update
please be right please be right please be right .... :-)
my sentiments exactly!
I bought all when I saw this posting lol
Lets see where this goes. I have been hodling for a few months now. Got already a sweet profit!
Is this one still valid? update please.. thanks @haejin
Love STEEM, thanks Haejin!
Kindly do an analysis for SBD too. I am just holding my SBD and want your opinions about it.
Good charting, SBD has been leading the way.... I am looking at an SBD price of 15 - 21USD which could help push Steem up to 9 - 14USD, the higher SBD goes Steem would follow...SBD creates an incentive to the holders to hold tighter, while at the same time its circulating supply goes well with traders...Once SBD jumps we would see Steem follow, for now buying and selling orders are quite even, once buying tips we could see a run up, SBD had a nice corrective wave so we could see it leap up now
Valuable stuff to teach others..
Thanks..
Thanks for this information I follow you hope your next posts will be good good work
thnx bought the dip yesterday ,,,,thnx teacher again
I wish you success in this, brother!
P.s. Like your own comment to push it further to the top. I upvoted it too,
Thanks for the important info
Gazua~~~~
amazing, thank you~
@Haejin man thank you for your support. If you ever decide to spend some crypto or fiat money in Croatia, please come to Dubrovnik. You have a place to stay here! It's only natural since your analysis helps pay the bills!!!
Good luck to you and all other Steemians!!!
Thanks
Now that's exciting. We've already seen a nice increase in SBD so the price surge in Steem will be awesome.
Where do you see SBD heading to?
I like Technical Analysis, it's something that makes sense to me...IT'S ALL IN THE NUMBERS!!!
Appreciation for details.
Lets hope that the crypto revolution will take hold soon beginning right here - power to all steemians!🔐
Ill def. Buy steem
Beautiful! Thanks a lot. Guys to trade using USD on Bittrexx, I have some BTC, do I need to sell it for USDT and then buy STEEM with USDT? or is there anyother way to buy using USD? Thank you!
Just trade the BTC for STEEM. There is no direct trading of USDT/STEEM on Bittrex.
Also, if you want a simpler option than purchasing STEEM on an exchange, @blocktrades will do a direct swap of BTC to STEEM for you very quickly and reliably.
And blocktrades will charge you approximately 100X as much as BITTREX does for the trade.
If you have BTC on BITTREX, then just buying STEEM directly with BTC is the fastest and far and away the most cost effective way to do that
For small transactions you are quite right. But for larger STEEM purchases, using blocktrades eliminates slippage, which can result in a better rate overall for instantly executing larger transactions in some market conditions.
I cant prove you wrong. There may be some market conditions under which blocktrades ends up being a good deal. I never experienced those conditions.
I much prefer BITTREX, with very low rates and I am in control.
Which exchanges do you recommend most?
And why no one, including dan is using decentralized exchanges?
Is storing tokens on a decentralized exchange is nearly as safe as a cold wallet?
For some things, I love the BTS DEX, and feel just as comfortable storing coins with the web wallet as I would with an offline storage method . But I have not yet found a decentralized exchange that works well for day trading. So I currently use Bittrex, Poloniex, and Binance the most.
BTS DEX is Bitshares?
How do you transfer STEEM to their account?
The Bitshares account here seems to have been banned - completely undelegated with 0 SP.
Why do you still use Poloniex after all of what they have done to their customers?
So the fees at Bittrex are lower than Blocktrades?
And I hope day trading works for you, because I only saw negative opinions about it.
I could be a day trader myself as long as my trades quickly turn successful, but it is rarely the case, and it is wrong to often sell at a loss.
As far as I know, the BTS exchange account is this one, and you can apparently deposit STEEM to your open ledger by following these instructions. I've only sent BTS to the BTS dex, so I can not guaranty these instructions will work as advertized.
I still use poloniex sometimes to trade because I prefer to keep my actively traded funds on a variety of exchanges to mitigate the risk of any one exchange going down and making all of my funds unavailable. Poloniex can be pretty sketchy, but it has nice high trading volume, and has so far mostly worked for me.
It is easier to lose money than make money day trading. It takes a long time to get good at it, definitely isn't for everyone, and it will probably be a few more years before I consider myself more than an amateur. But I've made far more money than I've lost thus far, so I keep doing it.
I am almost desperate to sell my STEEM and SBDs.
I see doom and gloom for STEEM, or I might have a wrong impression of how a blockchain works.
Do you know a currency which has both a bounded quantity like BTC, BCH, LTC, ZEC, XZC and is not Proof-of-Work unlike these currencies?
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Upvoted and resteemed. Thank you Haejin.