SUMMARY
From the onset of this correction, SELLERS have tried with all their might to knowck down BTC price to a level that would create a crash scenario. NOT WORKING! I present a very detailed Elliott Wave count below of the Wedge pattern. All subwaves have been labeled and the significance of labeling subwaves is that it allows a good degree of confidence in the "geo" positioning of the correction. Note the very last blue five waves (i,ii,iii,iv,v). All five are labeled. This is a bull wick day as price temporarily pierced the lower white line of the wedge pattern. IF the blue five waves represent a completion of the last remaining Fifth wave of this wedge pattern...Could the Bottom be in?
Greater probabilistic confidence can be gained by counting subwaves of higher resolution. Below shows precision placed five waves (white 1,2,3,4,5) of the blue fifth wave of Wave V of wave circled 5. They seem very complete!
I had shown this fractal of Head & Shoulders before; these had NOT been volume confirmed! Each fractal has a parent and child H&S pattern as shown by the larger and smaller boxes. Each subsequent fractal is very much smaller than the prior. Today's sell bottom reversed into a bull wick. Final five of five of five subwaves are in and complete.
The selling power could be nearly spent. The BOTTOM could be confirmed IF price reverses and breaches the upper line of the wedge in an impulsive manner!! Let's see how price activity moves.
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.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Love you Haejin. My favorite Ellitionician. You've got my witness vote and I'll keep upvoting :) I love your dtube videos keep those coming
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Bernie -18 at home after a long day trolling. Stop feeding the communist pig haters
Pigs are way too intelligent to be communists :)
screw off pencil dick bernie man
@berniesanders are you a socialist? A FREE market is that - FREE. Haejin didn't force us to follow him. Just because he's taken the reward pool from you doesn't mean he's cheating. You may not like it and this is why I ask if you are a socialist. Your idealistic world of free market that's fair is the current world we live in. BTW, in case you didn't notice, it sucks! I am tired of Government telling me what is and isn't fair. Go to SteemitForSocialist platform because with socialism being such a wonderful thing and all I am sure you will see lots of those platforms sprout up. Get a life and find something else to do. I bet you are like 25, living at home with your parents, telling them how bad capitalism is and how you can change the world for the better if people would just listen to you.
You got that right. The real Bernie Sanders was a democrat shill. He is NOT a socialist by any means. The guy is rich as shit and as soon as the party told him to roll over he did just that. He actually endorsed, and told his followers to vote for, hilary! HAHAHAHAHA. Fucking politicians are all the same.
You dont get his point. You come up with a line that is not usefull here...
This is why people in the USA have a shit minimum wage and the rich have %99 of the money. People in countries like Norway and Sweden that have the highest living standards in the work have many socialist policies and heavily tax the rich. So much for your idiotic socialism bogyman.
http://www.nationalreview.com/article/425800/why-socialists-shouldnt-cite-sweden-success-rich-lowry Actually Sweden has been going downhill since they became more and more socialist. Any wealth that they still have had been gotten when they were more free market.
sweden? im from there! regarding the politics I have no clue, as I haven been living there for the past 12 years.
Why This Might Be The Bottom: https://steemit.com/bitcoin/@investingtips/pivotal-time-for-cryptos-no-click-bait
The real Bernie Sanders is NOT a socialist. He is a fucking spineless democrat just like the rest of them. He was a puppet, to begin with, he gained a bit of momentum, then was railroaded out by the people who make the real decisions. He then immediately rolled over like a good dog and told his followers to vote for hilary. HAHAHAHAHAHA, and people think he cared. Suckers.
Bernie sanders is ANTI bitcoin and ANTI tech and ANTI economy and ANTI everyhthing
AYY FUCK YOU BERNIE MAN
take care of your words my friend ;-)
Crypto is not alone in this. Next will be an asteroid hitting Earth ;)
http://www.breitbart.com/economics/2018/02/05/dow-plunges-1100-points/?utm_source=newsletter&utm_medium=email&utm_term=daily&utm_content=links&utm_campaign=20180205
Can't wait.
Watching the humanitarian bubble pop just before it brings evolution down in slow motion won't be the worst thing to watch and way to go for a mortal ;)
stop ruining the name of bernie sanders
HAHAHA the real bernie is a piece of garbage as well. Guy rolled right over and told people to vote for hilary. HAHAHA both these guys are a joke. In fact I would not be surprised if it was the same guy.
Ok Bernie, you tell me what to do in your world of this platform, I'm new and just because I like something and you don't somehow now I'm flagged, you can go fuck yourself my friend. You act like the us government and all the other bullshit self appointed leaders and dictators on this planet. I never asked to be ( Governed by anyone). What the fuck do I care what these people do with there earnings, I'm just here learning and trying to earn a little bit of crypto in the process. You defenitly strike me as someone who has the words, "Punch Me" in Permanent Marker on your forehead. Minding mine and leaving yours alone, live by it, "Dick"Peace, Kris
Great idea!! ! Thanks for everything!!! HODL BTFD👨🚀
At this point I'm hoping the bottom's more or less been reached, running out of fiat ammos!!!
same here.. breach doesn't seem to be very impulsive for the moment.....
U.N.I.T.E.
YOU’VE LITERALLY BEEN SAYING THE BOTTOM IS NEAR FOR A FUCKING MONTH. If anyone thinks this guy is a good TA analyst theyre a fucking idiot. If i just consistently keep calling a market to go up or down guess what, IT WILL EVENTUALLY.
Haejin is literally so crap. All he does is change his predictions every time he gets completely debunked. Look back months ago. He was saying cast your buy ladders THIS IS THE BOTTOM! when it was 15k. Look at his alt predictions. Totally invalidated. If you look objectively and dont be blinded by his claims of awareness and that he’s some sort of guru you’ll see that his actual numbers and predictions are worse than the average punter.
Haejin your a cool guy and i love your analysis but you keep moving the wedge. The only people that can save Bitcoin are the banks and wall street and they are watching on the side lines laughing at the mess they created.
Yeah I also noticed that moving wedge. Haeijin is a sneaky follow. Judging by his latest update, it looks like he's finally given up on that "bullish wick" hypothesis. It's clear that Haejin shifts his predictions based on the prevailing winds. Just go back a few weeks and look at some of his outlandish alt predictions which never came close to materializing. Of course, newbies, who want an "expert" to confirm their biases fall for it every time.
i am a new follower to your page. its good to see that through all the abuse you are still putting out work.
keep doing what you do best.
this is a community and we need to pull together.
A few hours ago I did this analysis with possible support points and I think that in the climb you can make a shoulder head inverted shoulder.
I await your comments. Thanks
Overnight price should show us the next steps.
Thanks again, these updates keep the calm.
Have been trying to learn how the read the MACD, for an additional method as well as EW, do you see an indication in the MACD of a reversal? Perhaps I am using the wrong MACD chart, as I cant see it...been using Bitcoincharts.com
Still heading downward. Wondering where is bottom. lol
@haejin
Is this and ending diagonol of an ABC 535?
drew this chart yesterday around 20 hours ago. Believe an ending diagnol means a reversal of the degree highers trend, meaning we are indeed heading up, or could the reversal also become a sideways slog?
Please note I can see where I think I miscounted and this didn't quite play out, if the high between the opening high in the diag and the end of wave 2 high, but the one closer to 2 is counted, then that count brings this diag to completion now, as opposed to needing one more lower high and lower low to complete. Counting that as a wave, even though it doesn't quite hit the diag boundary also removes doubt over the ABC between end of wave 1 and end of 2.
So i really hope i miscounted :)
Thanks.
First to say this is a great TA !
Is Tether a risk or not according to you?
Risk to cryptos in general? Maybe. Risk to holders of Tether? Absolutely. Use bitUSD!!!
I believe tether could potentially have issues in maintaining 1:1 to USD
I hope is the bottom......
Thank you for the update~
great post check my article on the stock market correction and bitcoin
https://steemit.com/cryptocurrency/@cryptonegus/impending-stock-market-crash-and-crypto-boom
Nice job on the call. I thought we were out of the correction but you were right on this one. I am loving the 1-5 motive waves I am seeing. Keeping fingers crossed we bust out!!
사랑합니다. 해진사마님!!!
Thank you
Keep it up!
I hope it's the bottom. This blood bath is insane! Everything hit a lot lower then I would ever have expected!
Thanks Haejen you are truly a master at this.
Hey berniesanders, I like Bernie as a politician but now I do not like him anymore and would not support him because of your BS post here. That makes me think if Barnie also thinks the way you are thinking and posting here.
I have been charting and re-charting Elliott waves as I observed price action today. Your analysis makes me more confident in mine, so of course thank you for sharing your perspectives so frequently. I also really liked your Head & Shoulders fractal...I never even thought about looking for something like that or what it's significance could be.
Fucking bear markt ahead :-) Soon all your followers in minus and build bigger SELLWALL.
Get ready for 5k... 3k... 1,3k.... in this order. If we dont bounce at such levels just cry...
Any one have a take on how the traditional market is/will affect crypto?
Thanks. Great info!
this is great and helpful analysis for the rest of us...thank you for your insights. Tonight will be very interesting to observe if the bounce occurs. Thanks again.
Could it be a double bottom ?
I ladder my buys. I even ladder my ladders.
Pray for the impulsive breakout
Thank you Haejin for your unmeasure generosity in sharing these valuable knowledge and info
He’s not generous at all. He’s doing this for personal profit. Look at the record of his calls. Most of them contradict each other and he puts out posts for the sake of posting even if they contradict his philosophies like altcoin hurry up and wait. He constantly shills a bull market. He always claims he does no harm but he’s doing a lot of harm to people by actively promoting himself as a guru and then throwing out blind predictions.
Haejin, I find your explanations to be the easiest to follow. TA is a guide, not gospel so thanks for taking the time to educate the uneducated in TA, such as myself :-)
분석 잘 보고 마음 잡고 있어요. 분서구감사합니다.
So, to confirm bottom, the price must break $9500. It does not like it would do soon. Hope so anyway.
I can see it getting down to around 5000 before it starts to go up again.
tx
Thank you for the info!
Thank you Haejin for what you do!
Nice, this is the count that I had posted as a reply on your last update; seems like we're on the same page (y)
Haejin, do you think this will be a long recovery?
Thank you
I think we will be dippin' one last time, to around 5000k. That's where last years September rally found its higher high. This area of support line has not been properly tested, so there's still a gap to be filled.
Jaws of Death for BTC...can you see it hitting 700 on the bottom side?
Love this idea and workaround!!! And really love the post. Only wish I had more cash. I'm buying GBTC in my retirement accounts, where I do have cash available.
Thanks for keeping it up in face of these unreasonable crazies hating on you for posting quality, albeit opinions, and being rewarded for it.
I am expecting $25k by the end of June 2018.
Please let me know your thoughts.
So was that the long term bottom? We're back to $7551 BTC as of 2/6/2018 !!
Haejin is literally so crap. All he does is change his predictions every time he gets completely debunked. Look back months ago. He was saying cast your buy ladders THIS IS THE BOTTOM! when it was 15k. Look at his alt predictions. Totally invalidated. If you look objectively and dont be blinded by his claims of awareness and that he’s some sort of guru you’ll see that his actual numbers and predictions are worse than the average punter.
Thank you for useful info!
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@haejin Have you read this https://steemit.com/bitcoin/@xexylol/bitcoin-a-bubble-a-ponzi-and-an-environmental-disaster-for-the-head-of-the-bank-of-central-banks , what is your opinion ?
so I've heard. awts, thanks for this. Following you now, hope to hear from you as well.
https://steemit.com/ethereum/@matroska61/bitcoin-is-melting
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Remember this is a dot .
and this is a comma ,
Haejin is literally so crap. All he does is change his predictions every time he gets completely debunked. Look back months ago. He was saying cast your buy ladders THIS IS THE BOTTOM! when it was 15k. Look at his alt predictions. Totally invalidated. If you look objectively and dont be blinded by his claims of awareness and that he’s some sort of guru you’ll see that his actual numbers and predictions are worse than the average punter.
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Always thanks for your sincere analysis everyday. Im every checking your analysis. I dont think its crushing coin market, but im wondering what specific reason affect this down term. Because of goverment? Or current tether issue? Many people are now frustrated and shocked at too much down . We should think logically, there are up and down always at crypto market , and bit coin went up extremely, for severals month. So this correction is necessary.
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A few hours ago I did this analysis with possible support points and I think that in the climb you can make a shoulder head inverted shoulder.
I await your comments. Thanks
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The double bottom seems to be confirmed! Good one
Do you think it makes sense to get some cash back at around 9000, and buy again at 7930 or so.. ?
Maybe 20% of the portfolio could be laddered this way, what do you think
Good move but before selling a 9000 confirms that the volume decreases confirming that it will fall back to 7930
For the moment it looks like we're in for another dip, target 5000 or so.. what do you think?
good work brother :)
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Write your comment below Haejin's so -18 sanderburn can't flag you.
haejin, in elliot each leg of a corrective triangle "MUST" have 3 subwaves, but in your chart wave 1 has 5 subwaves
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good analysis
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I have been charting and re-charting Elliott waves as I observed price action today. Your analysis makes me more confident in mine, so of course thank you for sharing your perspectives so frequently. I also really liked your Head & Shoulders fractal...I never even thought about looking for something like that or what it's significance could be.
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The released transcripts from tomorrows Senate Finance meeting was surprisingly bullish guys..i was quite shocked..my theory is that many of these Senators and SEC regulators have kids that embrace and like the technology and told them that if they are too harsh, then innovation will be stifled, and other countries will move in to swipe engineers, and developers...i believe the only reason we are still on a razors edge is because of the Stock Market Flash crash today..the Dow Jones had it's biggest intraday decline in history...1600 pts...i was watching CNBC on 9/11 and we only went down 800 pts i believe or around there..this is significant...now the only question is......will these people move over to a deflationary asset class where the FED and other governments can't print their way out of this mess, because , let's face it guys, if we do start another crisis, the amount of stimulus and money printing that will happen will make 2008 look like a picnic...it will be interesting to see the shift..hopefully people will realize that this asset class is a safe haven from that
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잘보고있습니다.
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Congratulations @haejin, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 28 and the total pending payments to posts in these categories was $2157.47. To see the full list of highest paid posts across all accounts categories, click here.
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According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.
bitcoin.PNG
Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.
At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.
The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.
It's still slumping, words can't define what a binomail system can.
Great information as always, thank you for all the time you put into these posts and for sharing them with us!
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thank you for your info. have a nice day!
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https://steemit.com/bitcoin/@haejin/bitcoin-btc-morning-update-awareness-of-big-picture-keeps-the-panic-away
You said the bit coin price would go up to $ 100,000 in June described in above post3 days ago, is this prediction still valid?
당신은 3일 전 쓴 위 글에서 비트코인 가격이 6월에 10만 달러를 갈거라고 했는데, 아직도 이 예측은 유효한가요?
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But the price is falling even more.. it’s almost crashing the 6000 line.. i guess it it not the bottom..?
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Great information. Loved your article.
Did you read this one?
https://steemit.com/blockchain/@lcbisu/blockchain-graveyard
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