SUMMARY
Fractal applications can be unlimited. I was discussing Bitcoin (BTC) with @hardingmedia who shared the below charts. Basically, the July of 2017 correction lasted about 36 days and the price movements of that correction was "ghosted" over the current correction which also is lasting as long. The initial target provides $35k for BTC and the subsequent extension of the ghosting leads to $80k target. Very interesting as to how the July correction in time and pattern ghosts quite well over the current as a fractal.
Here is a close up showing how the fractal overlay can be used as a guide. IF this is fractal in relationship; then likely one more lower low could be expected as shown below.
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With the inherent problems built into Bitcoin at the base code level, I find it hard to believe these prices will ever be attained, no matter what trend analysis says.
Such an amazing example of True Market Sentiment. Fractals and Fibonacci to the rescue!
Thanks @haejin !
Looks like the 5 wave correction we've been waiting for is almost over - substantial bounce from low early today. We are about to get resolution and some clarity my friends...
Do you think we're due for 1 more bounce at 8k?
More than likely @justarobot
Tic Tac, Tic Tac...
So what do you thinks guys, is the correction complete ?
1 - YES
2 - NO
It is in the process of completing.
1
😂 I summon an analyst in attack position.
Isn't @haejin supposed to be on Jupiter or something?
He is. But he is not the owner of the card. I am. And my target is the moon.
The card.
such wow!
My Bitcoin price targets for the end of 2018! https://steemit.com/bitcoin/@investingtips/bitcoin-price-targets-for-end-of-2018-preview-the-moon
I agree. One more lower low for us to jump back in then onwards and upwards.
others are saying it could go lower to 5-6k levels
It could go to zero, or close to. It could have all been a bubble and it’s all over now. All possibilities but we will have to wait and see. It doesn’t take much to move this market as seen by recent price drops!
But remember this time last year bitcoin was at one eighth of the price! Even after the crash, it’s still worth 8 Times what it was a mere 12 months ago.
Bitcoin is currently sitting around $8500. That is to be expected since a lot of news have been bad this whole month. The market doesn't behave in a rational manner as other mature market. We are at an infancy stage where bitcoin is treated more as an investment and less as a currency. The higher the price goes...the more stable it will become. Now, can it reach 35k -80k? We can perform a simple calculation. The current market cap of BTC is close to 144B. If bitcoin where indeed to reach an 80k the market cap would increase by 10x. That brings us to 1,44T just for Bitcoin. It can be reached but it will definitely take way more time than what we expect. Until then...HODL!
Nice one, we use the same approach, I was also looking at fractals in the past but what I've found was something from the beginning. Check it out
https://steemit.com/bitcoin/@drumsta/ta-btc-usd-is-the-bottom-in-i-don-t-think-so
Excellent analysis Haejin.
With all the bitching about your posts by other whales, I suggest they have a read of what they should really be working on fixing in Steemit if they are that upset from you making money on the platform - the Steemit incentive and valuation model - which is frankly a failure at this point that needs drastic improvement.
Please have a read: https://steemit.com/steemit/@newsandviews/why-and-how-steemit-needs-to-improve-or-face-future-competition-that-will-come-in-to-replace-it
Ghosting ?? i love it.. the Ghost doesn't go down.
Cool, except there is legitimately nothing supporting why the next 5 months would act like this?
Thanks for your big picture.
Backing up the truck!
Alwaaaa
i think you create a great information....i like it.....i hope everybody like your post....thanks for shear it...
Thanks for sharing this very intersting thoughts!
nice post
Thanks for sharing.
Great show here !
Thanks for the information!
What if the price of bitcoin has been artificially inflated due to tether printing money out of thin air. Doe this not change the prediction?
Unlikely. USDT only accounts for about 2G$ in market cap. Compare this to BTC which is about 150G$ post correction. Even if all of USDT was liquidated completely into bitcoin, then it would shift the BTC price by at MOST 1.3%. USDT is also used to short other big coins such as ETH so we are likely looking at less than a 1% price action on BTC for USDT.
ok already I vote. do not forget to vote back
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Vote me and follow
Original way to predict a direction :) History repeats itself!
Except for the speculative aspect of it, I don't think it can be compared. Just my opinion!
Unlike tulips, bitcoin and blockchain is revolutionary in potential uses. Yes bitcoin is a bubble but it could take 10 years to start to go down for good and the value won't go back to FIAT, it will go to other cryptos.
thank you so much master Haejin shi. I dont know so much about EW. Yr TA is so powerful that makes me so interested to learn about it. KUDOS! Yr TA gives me positive mind and I'm so happy to hodl :) Base on bollinger band I could see that it will hit this 6258 price
we can not thank you enough!
Is the wave complete?
Please update Reddcoin
Im scared.
All the insight you give is definitely augmenting my own. Great Explanations on your reasoning. And of course those who are expecting 100% accuracy are delusional, as people change, so do the charts. Analysis is not a one time deal, have to keep due diligence to direct your investments.
😱
That would be awesome
Love it, A. great example and confirmation of Fibbinaci and Elliot Waves at play.
@haejin can you make a post about the steem/sbd pair?
Thank you haejin for the post. I like the projection and logic for it. We have big money coming into this market in 2018 from institutional investors and pensions. This is the money that will push the entire market cap up and into the new projections. I have no doubts. The money has to go somewhere, and it will start with bitcoin and then move into alt coins. I'm patiently waiting and taken all the corrections in stride and using your posts as guidance to be more patient in putting my new money to work. It worked out spended this week and was able to get in just above $8K and then get two new coins at great prices early this morning. I very much appreciate your posts.
Looks great! Who else is ready to make this world a paradise by investing in the Common Good?
If you are receiving this message, you have been flagged for responding to a known scammy piece of shit. Enjoy your dwindling rep. Here is how @haejin supports the community.
P.S. - His 21k followers are complete bullshit and most are inactive and have been for months.