)
SUMMARY
NOTE: Still on the slopes! Not able to post a video update.
I still see people panicking and calling for Bitcoin's crash. I believe the Fractals are still in progress. Both Fractal #1 and #2 display an expanded flat a,b,c correction which is likely complete. There is an alternate count for a lower low where the C wave could reach as low as $10k or so. If this becomes the case, then a Zig Zag of 5,3,5 labeling would be justified. There are still a good number of analysts calling for a doom and gloom scenario....not me!
NOTE: If this blog gets downvoted; @ranchorelaxo has our backs!!
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 Mumbo Jumbo: 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.**
Cheers! Here's to more wild swings in the future! The higher BTC goes, the more I will diversify!
@haejin, I have never seen a post from you on ZCL (Z-Classic, soon to be Bitcoin Private)?
help me @haejin you could win a free kitty ;) https://steemit.com/free/@safetony/free-crypto-kitty-giveaway
I think BTC had open doors to many other uses for altcoins. Check out this new XAR (Xarcade) coin for the gaming platform. Delevopers and gamers benefit from this. DSO or discounted sale offer happening in about 5 hours. Check out my post at: https://steemit.com/xar/@yomaicoin/xarcade-xar-blockchain-for-gamers-and-developers
You are voted up.
We have a lift off in Verge - XVG...
this is just FOMO, the real fireworks will be tonite... a wraith release could send this, as mad as it sounds, to 70cents.
wraith...what a disappointment...these developers are slowly killing their project
Bought last night at 1088 :)
love my verge
my last post contains a free gift Happy New year everyone!
Congrats!
Enjoy your time off!
here's hoping he's right!!!!! Come on 2018!!!!
So, am I reading your chart correct - we should be over $20,000 after January 8th, 2018? From that graph, it also looks like we'll be around $15,000 early January 2018 (2nd - 3rd)? Reference Link.
One suggestion: bigger graphs or links to bigger graphs. Had to do a 200% zoom in.
Copy the image and paste it into a paint application, then zoom in - the resolution is high enough, steemit just lacks the ability to magnify.
In fact to be able to read efficiently graph you just have to zoom in your browser. For exemple in Chrome just clic on Ctrl + '+' ! :)
But why would I do that, and zoom back out to carry on, when I have all sorts of apps running in the background, saving the worthy stuff to disk to look at it later ?
Could you please do a update on this beautiful token called EOS?
its about to explode, bernie has crippled my account with down votes so cant uplaod a picture but pull up trading view and zoom out to all year....massive cup and handle pattern. If you upvote some of my post might be able to upload. Wishing you massive profits in 2018.
BTC
BTC too, just published at my blog. I think this will be a real new year rocket :)
Same count.
Nice chart. Why do you push down below 9k since your H&S height gives you 9k? Also I think wave 5 cannot be the longest, wave 3 is the longest.
Wave 3 does not have to be the longest. Can never be the shortest.
H&S pattern not exactly confirmed by volume, and is usually minimum target, so my primary is extended fifth, fractal of wave a.
Wave 3 cannot be shortest.
good time to be in usd then ???
I'm with you brother. What are your thoughts on my post https://www.tradingview.com/chart/BTCUSD/kaUi5esz-Correction-fractals-between-BTC-and-ETH-across-time/
There are too many similarities to ignore IMO.
If we hit the Segwith2x low then generaly Bitcoin is on the way to make double top in range $5300 - $22000. Double top will set Bitcoin long term in ranging market with possible crash bellow Segwit2x dip. I think that reasonable bottom will be around $10k.(See #23)
You guys do to some degree realize that you're creating a self-fulfilling prophecy, don't you ?
Market price is determined by volume, and everybody staring at bitcoin ooo-ing and aaa-ing will of course not make the volume grow... there are no 'values' in existence except those that the delusional human mind imagines. Try talking it down to 4 bucks, I'll be glad to buy ;)
Good reasoning! The same as I have in #23. Your target is even lower then mine. I think a bottom will be around $10k ($9600 precisely).
Happy and healthy New Year to you and your family @haejin ...may 2018 bring MAAAASSIVE PROPHETSSSSS!!!
If this blog get downvoted, does ranchorelaxo have our backs?
Each and every time...ya heard?!! :)
lol
Awesome analysis on bitcoin you made, personally I see bitcoin coming into 10k$ or even 6k$ to shake the weaker investors out of the market before we could see new highs being printed. This happens in the Forex market and maybe any other financial market, people who are unable to bear with the pullback and are not experienced or gotten used to how the market moves will be shaken out before we see psychological level of 20k$ being taken out.
These people here ARE the weaker investors. My impression is all the newbies who got in over the last two months are almost gone and only the old hodlers are now keeping Bitcoin afloat... the price is now at early December level but to be where the last parabolic run started, it would have to go down to 8k. Lets wait another week I guess.
That’s true, I totally agree with you
Or maybe not... I see some more consolidation, this is the 6th time we're crossing 13500... volume slightly increasing... life is so complicated ;)
thank you not to panic like other people. Very good analysis from you @haejin and we should remember that we are in a festive period. And.., these movements have become like no habit for all? Hey crypto peoples stay zen and be cool we are all the same ;)
Take care
P&U
Thanks for the update. My hypothesis is that wall st is doing a demonstration of their capacity to short BTC. The crypto market was mainly comprised of smaller guys like us, going long and never shorting. Now I think we could maybe have a balance between our capacity to long and their capacity to short. They will continue shorting until they can. I hope you're right Haejin, I miss the bull runs.
thank you so much! Can you please give an update on ADA?
Hi,
I've posted an analysis on ADA.
https://steemit.com/blog/@benkalashnikov/cardano-update-heading-for-new-all-time-high
BTC difficulty readjustment in 144 blocks
Expect record high hashrate.
Disagreement on rewards, copy/paste content.
BTFD!!
But also, the Dash chart just looks too good to pass up right now. I'm grabbing some Dash for sure, BTC...eh, might have to wait just a bit longer before holding onto any of it.
Enjoy the snow, Haejin!
BCH/USD logarithmic
BCH/BTC logarithmic
Bought a huge chunk and waiting...not selling before 3x
We got a nice impulse that started, do you think we can have a Dead Cat Bounce?
This is me when I was a little kid with ice cream all over my face.
Here is a great review of Raiden Network Token, a great upcoming coin I wrote: https://steemit.com/bitcoin/@cryptoknight12/raiden-network-token-review
Everyone expects the BTC to fall. But I try to believe your chart.
That's just mass psychology ("everybody") - what everybody believes will finally, surprisingly, happen.
God's will, you know.
Thanks!
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Thanks for your post Haejin! This is my analysis for CVC/BTC. We can see a bullish ascending right triangle forming. That indicates that Civic is ready for a break-out pretty soon, which could result in new highs. What do you think? Feedback appreciated!
Has anyone looked at QASH? Seems like a steller platform and a great competitor to coinbase. Thoughts?
Lets be real btc may be 50/50 come back.
Nice fantastic post Contribution comment#2
If btc crash , I am gonna buy more . crash or not , either way good news Lol .
Very interesting times...i don't know who in their right minds would want to sell BTC and give it to Wall street and huge hedge funds...they want to buy them up cheap especially after Jan 1..don't give it to them...lol
Everybody here, getting out now and watching excitedly for somebody else to get in, wondering why the volume is falling. Mike Novogratz said, "too dangerous to invest over the holidays, it might fall to 8000!" - so people shit their pants and oblige him. Always works like that, human psychology. They call it free will but it's hardwired.
LOL...no doubt jojo...Mike is a master at manipulation..he got some cheap ones and may get some cheaper...2018 will be an interesting year..everyone is waiting to make new trades (especially the large hedge funds) after Jan 1st for tax reasons..cheers
Bitcoin is passing 14k while we speak...
Mike, where are you when we need you, skiing down some Davos slope ???
Hi Haejin,
I think the breakout in GCR is imminent. Could you please do a quick update on this?
According to your analysis 1 week ago, your argument about the fractals looked convincing.
I’ve been lurking for a while but had to make a membership to thank you for your help/teaching material. I’ve learned a great deal studying and also made a ton of cash!! Keep doing what you’re doing!
Hello
Could you do NLC2 ?
Master Lee DeepOnion has passed the recomended satoshi value what is the next call?
Thank you for updating us on your ski trip!! You're just as abscessed as we are!
Is it def not a H&S because of simply volume? If wave 3 or 5 comes under 10k it looks like a HS pattern there
The money you're making from your blog should do and if someone feels the need to appreciate your work, they can request for your wallet ad. Just saying
yeah thats a good call bro
@haejin - Would love some Elliott Wave analysis on Zencash 👍👍👍
Well I don't get much about BTC but am beginning to understand a little wished I started early with it...@kingklauz thanks @haejin
Thank you so much H ❤ if possible can you please do an update on Reddcoin.
HApPy NeW YeAr
I think it's worth entertaining those ideas. There are bear shapes all over BTC, and some very experienced traders are calling a potential major correction.
You weren't wrong last time, but it's wise to proceed with caution.
nice work buddy ... the booming timing coming soon in 2018.but i think after the first week coz through observation of some price charts and market the level will low in the firsts week . well hope u r right .. happy new year in advance bro.
Great post! Thanks for sharing another expert opinion about bitcoin and its future values. I Think a word is enough to the wise. I follow and upvote you.
nice info wishing @haejin and all steem family members a very happy new year
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I cant understand it can u say again
Hope it will rise soon. even I know this correction will come, I couldn't change my profit to cash in right time... so, now my whole money is in BTC and -14% ;(
I know and hope BTC will rise up within a month!!!