SUMMARY
After a vertical move up from $2.17 to $8.95; a correction is taking place. A Zig Zag correction in the form of 5,3,5 waves could be playing out. It wasn't more than a few weeks ago when STEEM was sub $1 when I had recommended it. This is a healthy correction; deeper than expected as it might be. This is when that 10% to 15% of portfolio held as cash comes into play. It allows one to go out an bargain basement shop!
The Zig Zag correction has completed the a and b waves and is in the latter end of the c wave correction. The MACD is also indicating that oversold territory is being approached. Since c waves always have five subwaves, I've labeled the likely zones. Wave 3 could be in progress with wave 4 and 5 still to be.
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.**
Allright BTFD !
Waw
😬
Steem for Steemians ! Next meeting at $ 10.70
Hey all!
I have put together some picks. They are low market cap coins that I believe have great potential for profit. Obviously there is risk and do your own diligence before buying. I am not a financial planner or advisor.
In no particular order:
(Follow me on my new Steemit for daily picks, and have an excellent day!)
Which means a move to $3.43 is on the way?
HODL
Set buy ladder! Best time to ladder in is at the end of a terminal C!
Taught by the best, missed your analysis but here's mine... Pretty similar lol
STEEM - Analysis (123% POTENTIAL PROFIT) — Steemit https://steemit.com/bitcoin/@benkalashnikov/steem-analysis-123-potential-profit
Thank you Haejin for auch precision. You are truly a master of the art! I have made it my ritual to "check what Haejin says " before buying and sellinh anything. Ypu have seen me with only profits by following your posts and i hope you dont ever stop! 😁 I was wondering if you will be posting an update to XVG anytime soon? Im half hearted about hodling as we seem to always resort to the point we are at now, or are we sitting on a actual time bomb? Looking forwards to upcomming posts esp xvg at this stage. Thanks fpr all the hard work 🍷🍻
Im not sure about XVG anymore aswell
Ff
Yes please if u can do an update on xvg that would be great.
Since Steem has tanked, BTC has fallen...what do you expect XVG do? Can't go up on its own.
Could you please do an update on 0x?
Jhh
If it dips to much i guess i will buy more.
Bitcoin price is near 12000USD. I think triangle pattern does not fit anymore. What is the altenative counts? My portfolio Fu*ki'n falling down horribly. damnTT
Be greedy when others are fearful, be fearful when other are greedy. It is about time to go all in with any spare cash you might have. Every altcoin will be rock bottom pricing. In a few weeks to months from now you'll wish you would have bought if you knew it was going to be that low... Here is your chance. I'm kind of glad everyone is selling, I have my check book open and getting ready to pull the trigger on many altcoins.
yes, its tanking hard right now. was there some bad news or something???
Yes it is more Korea FUD.. prob over hyped. Got stopped out of my Eth, which I was lucky enough to have on exchange due to being at near top of extended 5 of greater 3.
Seeing as this is Exchange regulation FUD, I guess it is only fitting I used the opportunity to BTFD on BTS and NXT...not gonna add to my ZRX which I just took profit on yesterday (for now). Goooooo decentralized exchanges!
Not necessarily FUD, but no need for panic selling. The market will bounce back...
https://steemit.com/crypto/@paladinav/bitcoin-skids-on-news-south-korea-prepares-to-ban-cryptocurrency-trade
I'm also waiting for China to enter.
Guys if youre online at night use that case for you.
Ive got 9600 BTS now from starting 7600 2 days ago.
Pretty predictable dip everyday.
Kkkk
One thought on the BTS correction. The volume is a little iffy, but I have bought plenty of the dip since it began myself. Think I am done buying on the particular dip.. hopefully this triangle rings true. Not that confident. Bottom could very well be in though.
You found the very same piece of irresponsible journalism that I was referencing... how unfortunate. Linking to a place that links garbage like that is bad for everyone. As someone who is in the media industry I am embarrassed.
HODL
South Korea is banning exchanges and trading of currency.
They are not banning yet. Claiming it’s gambling and raiding exchanges for details of clients for tax investigations! People who have t declared gains should start to worry as this will become more common!!
That not true yet. It could be banned some day, but It will take so much time. Banning free trades? That is bullshit.
Iiuy
Hello @haejin, does this mean that the price of steem will continue to go down? How about steem dollars?
This could be the route that bitcoin is taking.
. See this post Four-possible-scenarios-for-bitcoin for other alternatives
Look at my blog, I made an Apocalyptic TA :-). Just HODL, stop watching balance and wait a week or two, you will be happy.
Here the link : https://steemit.com/btc/@adri1202/new-apocalyptic-alternate-for-btc-correction
"Banning Crypto In Korea" <- It was not officially announced by S.Korea government. There was another announcement today.
http://m.news.nate.com/view/20180111n29949?issue_sq=9992
thank u
Update on the Korea fud please. Does it invalidate the analysis?
News/FUD does not drive prices.. it only appears that way. Social sentiment is what drives the waves...this is what makes Elliot waves a good practice as it is a measurement of emotions.
Thank you Haejin!
thanks for this information, I know it will have a balance soon. I really enjoy this post please keep it up
People still paying this fucking clown despite his bitcoin predictions being incorrect by 100%.......
How's your conscience when you go to the bank Haejin?
Why are you making a comment here if he's a clown ?! He's not incorrect in anything, just read his posts, he has a lot of alternative path, and one with a big dip to 8k$, or even better read MY blog, I made a basic TA where BTC falls to 8k$, then it will bounce back and go to the moon !!! Maybe just like to 25k$, but after that, to the moon !!! :-)
Here the link : https://steemit.com/btc/@adri1202/new-apocalyptic-alternate-for-btc-correction
Korea news has just dropped. All cyrpto is panicing lol! CNBC is saying Korea will ban all trading and they just raided crypto exchanges lol! This is the last thing I expected from korea.
LOL. Anytime we see FUD like this on CNBC, mainstream news, etc.. this means we should all be doing the opposite of what they are trying to cause.. DO NOT panic..I feel sorry for the ones that do. Just like the Jamie Dimon and China FUD a few months back... they create panic just before they buy up. Get ready for all Bitcoin to take off to all new highs within 2 weeks or so.
Good call nkd11, Headline just in "South Korea raids major cryptocurrency exchanges" - financial times
source: https://www.ft.com/content/74bf4bc2-bcce-3e88-8041-1e102a6005e1
Thanks for the link, but I think it is for subscribers only. I can not read the article.
Oh wow! When did this happen? This is actually panicking.
A true test of our resolve. HODL
oversold ! It means time to buy .
Thanks you discuss about the cryptocurrency ..I always see your post.
Sweeet! Can you please do one quick analysis on Everex?
Thanks for the tutorial information, my friend.
I am so happy a bought steem when it was still under $1! Thanx for the info.
just great... 👌👌👏
Thank you for sharing. I hope i can get profit by watching your chart
I dont know if the technical trading tips hold true when the market is pulling back because of news. If I had money, I would invest, but most of my coins are down, and I do not want to trade them at a loss
https://steemit.com/crypto/@paladinav/bitcoin-skids-on-news-south-korea-prepares-to-ban-cryptocurrency-trade
Rueters at it again. Highly irresponsible. This is twice now. What can be done about these people? No one else is saying anything about drafting a BAN. These dudes post up 1 sentence blurbs of the most extreme lies. So sad... bet they were better at buying the dip than I was. Perhaps I get another chance... sleepless night in my future.
HODL !! Wait two weeks, will be rallying again. I got more than 30 altcoins, some are down other not, not worried about that BECAUSE THEY ARE ON CORRECTION. Always have some cash/BTC to buy some if they go lower, or just wait ...
I think it is time to hold the steem. After a correction it go up again.
Thank you for the info @haejin..
Might actually buy back in to BTC tonight! Tried at low 11s a minute ago. Wasn't fast enough.
Will go down to 10.5k$ or even lower. I'll buy at 11/10/9/8 k$, not need to hurry buy :-D. It's just what I'll be doing, do what you want :-)
We shall see. I don't expect that will be the case. It is finding massive support 13+. You might get quick dips to those numbers, but good luck. I would of been ecstatic with an entry at 11.7, where I tried to make it.
Big sale tonight on all crypto!
Haejin, if you could explain your trading strategy for EOS that would be really appreciated! Thank you!
cara perhitungan yang bagus.
dan saya prediksi dalam seminngu ini pasti anjlok
What a bargain! Just laddered in a nice chunk, will get more if it drops more. DTube seems like it could replace YouTube someday. I wonder if a Twitter replacement is in the works too ...would that we can say goodbye to censorship and ads.
THANK YOU SIR HAEJIN! Can you please review DNT (districtox) please! Thank you!!
Can you do one gor waves ? Thank you
An update on Cardano would be cool
wow! amazing
hope to see steem over 10$ soon!
great job, update on cvc please
If in doubt, power up.
This is not make sense. Who cares how much $ it cost? I spend some BTC on it and lost 20% and it is not going UP like your prediction from 02 January.
For sure it will go up, but it not hit even 1st target, and now you are writing about correction.
Sell it, if you are going to be impatient then trading is not for you. This is why people say that "hodling" is the best strategy for people who can't manage their expectations and emotions. Unbelievable!
I'm not gonna sell it. Holding a lot of coins from Jun 2017. I just want to say about $.
Technical Analysis is about getting the probabilities of certain events.
Just like poker.
You have to turn your brain on and stop following blindly.
I think,XVG will not have break out so soon.Wraith protocol is completed,but price deeping,because of Korea FUD.I am expecting every day lower price,till FUD is over.
Wow, what a huge opportunity to get into some gems that i missed..i don't chase coins so this was a gift today..hope none of you guys were at work or doing something when this happened...cheers everyone
What do you think, guys?
is it a good opportunity?
hi thanks can you do sbd
i really like your post
Always great and respectable work Haejin. Gentlemen! I also do Elliot Wave analysis. Please see my ETC analysis set to consolidate then break out for 85% + profits @ $60+. https://steemit.com/bitcoin/@philakonecrypto/etc-ethereum-classic-consolidation-then-massive-breakout-85-gains-to-t1-usd46-50-t2-usd60
Hey all, was writing my first Post and got massive last minute downvotes, no upvote support.
I was curious about it, i didnt remember exactly was i was writing.
I thought i was maybe just writing sh*t, cause i was high from Spraypaint... Roundup ready on my Bananas or whatsoever.
So i checked it out out and who wonders: Berniesanders and his "friends" downvoted me, didnt even read my words :
https://steemit.com/life/@benben-ben/why-the-bully-is-a-bully#@steemitboard/steemitboard-notify-benben-ben-20180110t122459000z
posted it again, if you like my words, just give me upvote
https://steemit.com/steem/@benben-ben/what-to-do-with-the-bully
if u want me shut up, just ignore ;)
Appreciate your support, thank you.
Massive Profits to all of you!
Good direction to buy and sell.....good one there
Cryptocurency wizard great
What a genius. Thank you!