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SUMMARY
Bitcoin (BTC) overnight price action looks to be putting in the subwaves of a smaller correction before resuming the upside towards wave 3. I've added the subwaves of the c waves as 1,2,3,4,5. Remember that wave c always has five subwaves and counting these correctly is key to ascertaining the "geo-positioning"of your waves. Therefore, if this is likely a wave c decline of an a,b,c correction, then five wave completiong counting allows greater confidence that c wave could be complete. The target of completion point could be $12,463 or so. I know that many are already freaking out on this smaller decline and I assure you, there is no happiness to be found in crashing from panic to euphoria and back. I have repeatedly said that awareness will help keep the panic away and that means gaining proficiency to analyze scenarios from possible to probable to gain greatest awareness of where and how the price will behave.
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.**
Take a look at NULS too it's an undiscovered diamond.
Nice job. Thank you.
❤Yes, this is very excellent. Thank you for the effort and valuable information
Thanks @haejin for your work! Your wise words and analysis is much needed and greatly appreciated in this crazy time.
I'm positive that bitcion will just in just a short period of time and this is the best time for investors to come in
Thanks haejin, you keep me calm during these days!
is it possible for you to take a look at civic (cvc) again, is your post from a month ago still valid ? looks like we are going to go into abc correctoin. or are we going for blue wave 1 now ? i am still new at this
Btw it had no effect on Ox (ZRX) , I hope it's cup and handle is completed and will reach $2.47 as you mentioned .
it had no effect on another 1000 coins
some of the coins dipped by 5-8% . anyway i hope ZRX goes up now .
5-8% is nothing in crypto... negligible ... they do that pretty much every day if not every hour :D
I know . 20% of my portfolio is for trading . I try to make 10% daily and when it get 5% DOWN I REALLY GET IRRITATED .
You really need to get over that or you will have a miserable life trading.
I know but i am getting addicted to it . I hope i will manage it somehow .
@Haejin Do you think this is possible? or is the TA wrong?
I'ts looking Bearish here my thoughts https://www.tradingview.com/x/E1hLR6Qp/
Excelent analysis. You came to the same result as I do in my analysis #23. Check it out!
Happy new year 2018 and profitable trading!
Short term altcoins plz
11860 already breached before you posted this ... is it still wave 1-2 ... its about to breach point 0
Depends on what exchange you're on.
Never dipped below 12500 on mine.
On the chart he posted, which was Bitfinex, the count remains valid as long as it doesn't hit $11600 or so at the blue circled 2. Even then the count could morph from 1-2, 1-2 to 1-2 with an expanded flat as long as a lower low isn't put in below the white 5 that preceded the blue 1-2.
well it hit 11650 in Bittfinex. I think it's going down more https://www.tradingview.com/x/4tD40cxe/
But it's going up soon
from 19k and now down to 12k.. I am sure those who bough btc during 19k are now freaking out haha. but if they can read this post I think they will at least feel better. Thank you for your analysis, it is really a great help
Thanks!
Helpful post..
Thanks a lot for sharing it..
Upvoted and resteemed
Your great friend :
very helpful post :
Thanks for posting :
Thank you for the updates!
great! the link of the video dont work.
give it time, it always takes a while to load.
Yes Haejin, the URL link does not work to your video. Please re-download. Thanks in advance.
Grazie MAESTRO per l'aggiornamento
It is last 3 days I guess before New Year decrease. Bitcoin will hit 19,000$ after 9th of January
I like your analysis these days. If bitcoin have to be in the space then it should improve the performance in terms of time and fees.
I would recomend anyone who gonna jump in bitcoin at this moment please educate yourself first about the pros and cons of the crypto currencies by reading this post:
https://steemit.com/crypto/@techstack/pros-and-cons-of-crypto-currency-you-may-know
Hi! Can you do an update on Ripple please?
https://steemit.com/bitcoin/@haejin/ripple-xrp-don-t-confuse-the-trees-for-the-forest-target-usd4-11
This was just yesterday.
HODL!
Very good information friend
Thank you Haejin for your updates, learning a lot !
@Haejin, would you consider an update on ReddCoin?
yeah would like that to, if you have the time :D
Grazie MAESTRO !
Wave 3 ==> To 30K$ SOON !
Mr. Haejin, could you please do analysis on LTC? Is it nearing the end of its correction?
Thank you and have a prosperous and peaceful New Year!!
Could you please do a update TA about CVC
possible head and shoulders? gonna drop below 10k?
No volume confirmation for head and shoulders.
@johnny-appleseed Hey, could you undelegate your SP to @ryacha21
He is leasing 30k SP from @minnowbooster then using that to VOTE Up his own 7 Day old comments on random posts at the last minute. Scroll his comments to around the 6 day mark or just go to https://steemd.com/@ryacha21; he has a lot of self love on his own old comments.
HE IS DOING IT OVER AND OVER AND OVER.. He is farming the pool.. If you could help it would be appreciated..
Learn more about this sack of monkey spunk here:
https://steemit.com/shitpost/@pawsdog/the-shit-post-diaries-1-17-18-4
You need to check that volume also has head and shoulders shape. Otherwise is not really HS.
Yes I agree with you also. Check my analysis #23! Happy new year 2018!
I can't see the video :\
Thanks for the update. I see a fractal of a baby h&s in a big h&s...something to consider....
I noticed that too, but I don't think the volume levels support it. Just my 2 cents friend.
thanks you~
UPVOTE RESTEEM AND PROMOTE!!
Thanks Master Lee. Can´t see the video.
Haejin, video is not available.
You agree or not but this is comforting...I am here half investment sake half to learn the mental stability trading requires. Thanks Master!
Dear all pls upvote and delegate Steam power to Hajain, we cant see the video because of the low rating, who ever is doing this is hurting us all. We need to stand together.
Thanks for the update!
Thank you haejin, at this point it looks like were are going down more for the BIG ABC correction. See my chart, let me know if you agree with the bottom and what number you think that will be. There is the yellow diagonal support line and a green horizontal support line one which are off by about $500 Thanks https://www.tradingview.com/x/GX1Hnjs2/
Excellent teaching in this post. Thank you.
Since you are counting patterns could you also use a neural network to predict future behaviors or find similarities based on these patterns?
I guess there should be already some work on this. Any references?
Target for correction in my opinion #23 is yust bellow $10k.
Thank you.
Good job thanks
Congratulations @haejin!
Your post was mentioned in the hit parade in the following category:
I'm watching all these Crypto currency videos and my top favorite words are Congratulations to all who invested in. We are always taking a risk when investing but to me the risk is well worth it! Good luck to all those who are investing this New Year!
Thank you for all the good and useful information that you provide. It's a very good crypto trading resource
Good
It would be better continue crying instead of giving bad predictions to your believers.