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SUMMARY
The Neck Line of the Head & Shoulders has been breached. It seems more likely that the correction has started. A HEALTHY CORRECTION!! The chart below shows the detail of the breach. Could this be just a stab and price could retrace back above the Neck Line? I don't think so. I think we're having a healthy correction start.
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?
Follow me on Twitter for Real Time Alerts!!
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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.**
MERRY CHRISTMAS.
EXACTLY!!
Haejin, Can you do one on TRX (TRON). Its about to hit the japanese exchange tomorrow. Wondering if its a good buy.
Yes please!
Brother please can you do a TA on WaBi?
Extremely grateful for your wonderful analysis Haejin. Yes - there are far too many noobs and people who don't want to learn to fish but just open their mouths instead. But that is to be expected in my opinion. I have learnt great discipline and knowledge from consuming all your content. Thank you.
I'm looking forward for a little retracement! It is exactly what we need.
Hey I saw berniesanders post about you...
I must say... Keep it up! Keep pissing these childish "whales/dolphins" off... the community decides what it likes, not some childish fuck-tard...
Have a nice christmas!
I wish you MASSIVE profits!
I have bought this dip in bitcoin, ehtereum and dash. I think the X-Mas sell off started. So I am taking these as discounts.
Never forget the "Hurry UP & Wait" syndrome of cryptos. They never finish their corrections this quick, it's almost always very slow.
But in long term bitcoin is going above 20k. Right ?
Please review my tutorials at end of each blog.
What do you think to this on BTS/BTC @Haejin? Have I drawn this correctly? (My first attempt from your tutorials) An imminent breakout?
Binanace Christmas sale is on! upto 15% off on BTC!
I am holding my ground. I might miss the train by the time this bounces back.
Please reveiw when and how I buy here:
https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial
I sold. I'll get back at the bottom. Maybe not as much....it was half my portfolio, and to have lost so much on one coin the last few days, isn't for me. Not that I lost it was massive gain..but yeah.
on which coin did you actually lose? I believe in a few days the correction is done and this counts for the majority of alts
No doubt...until i believe this bull run is over im just hodl'g because it bounces back before you know it...plus!! Frigen taxes...we are getting reamed in taxes here in the US
https://www.bloomberg.com/news/articles/2017-12-21/tax-free-bitcoin-to-ether-trading-in-u-s-to-end-under-gop-plan
Hi @haejin thankyou for your post! you've made me MASSIVE profits. would you mind to explain why the sudden sell, of your BTS 9 hours ago ?
I have not sold all. I have a trading account and so took some profits. I have core BTS holdings in another separate account that remains.
a bts update will be greatly appreciated
Would love a BTS update.... DAILY!
I suggest a quick BTS update to clear the cloud, I think many people brought this out in sacks!
Dips always come and go with the curves, most of us are just not fast enough to sell before the smaller ones start, and buy when they're at the bottom, but day traders do it all the time. It's neither possible to notify everybody before doing that, nor is it sensible. I agree that a more detailed BTS update would be nice, and a dash one ;)
When will you ladder back in?
after A-B-C corection. Will be updated as it goes.
Booyah!
at end of a,b,c correction. How I buy and sell is all detailed in my tutorial:
https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial
how did u know?
Thanks for the heads up. I was surprised to see my portfolio had taken such a big hit this morning.
Awareness keeps the surprise away. The H&S pattern was discussed two nights, last night and this morning.
We HODLING
I've taken some profits.
My profit incurs 43% tax. That means any re entry needs to surpass the tax loss? This must be taken into account before any attempt on selling takes place.
This is the part most new people trading don't understand. You can't just jump in and out without thinking about the tax issues surrounding those trades. So if you have taxes you then need to know how they are taxed.
For example you need to be very sure if your taxing body looks at your buys and sells on a First In First Out basis or allows you decide which coins you sold. This means if I bought some BTC at $500, then more at $5000, then more at $10,000 and I sold if it's a First In First Out I would be selling the $500 cost basis coins first and paying massive amounts of taxes. If I can choose then the $10k coins would naturally be sold first and the tax issue isn't as bad.
Anyways way to many people running around making statements as fact that don't understand all the tax laws out there. Heck I'm well versed in the US, but know nothing about anywhere else in the world so just the limited bit I just gave may not even be close to how it's taxed in other countries...for all I know some countries don't care about your cost basis. My state doesn't care about losses when you win at gambling which is insane, so who know maybe there are countries that tax the entire transaction.
Then lets add in that some governments are talking about treating different crypto as different asset classes as they are used in different ways. This will really confuse things if it happens.
They are not passing FIFO, so no need to worry about that.
In the US that was not included in the current bill, but readers are from all over the world so talking about that issue is important.
Well see it it's a correction or dip!
"HEALTHLY" to loose 50% of own money.....LOL gamblers are really strange
You are uninformed. Clearly, you don't understand my methods. If so, answer this: What is my method of buying and selling? If you can explain that in detail, I'd be impressed.
laddering in, inorder to lower the chance of selling and buying at a bad price?
Bingo! 😊
lmao!
You only lose if you sell when it's down.
If you are UP 300% and didn't take ANY PROFITS...I can't help you.
people are spoiled here lol. stock market yearly returns is what 7% is decent? crypto land they want 300% a wk or nothing!
omg, LOL. @haejin is a beast
Everybody in crypto seems to have little patience. So what if you bought at $17k and it drops to $11k and then goes above $17k within a week. As has been demonstrated time and time again Bitcoin has a way of going two steps forward and one step back. Everyone wants instant gratification and instant profits it seems. Certainly doesn't work that way anywhere but in the crypto world. If you are in this for the long run the correction should not bother you.
After you made 300+% plus...
@johnnystimit You may want to consider movin' on over to the "stable" stock markets
Sounds like someone didn't wait for the correction to buy back in.
I see the same Haejin! How do you see the alt coins holding up? overall I feel $ value will be down, but if we can accumulate massive amount of BTC then and HODL till the bounce back to 23K then we may be good.
When Bitcoin sneezes, the altcoins catch the cold.
can you do another chart on both verge and bts which you recommended yesterday? Thanks!
What about altcoins?
I assume the worse...
Do not panick, its panick that brings on the pain.
Thank you bro! Please update altcoins. İ need some advice
Bitcoin is the Moon that moves the tides in the cryptosphere ocean and ALL altcoins swim in it.
Apparently the Moon has little effect on XRP
:)
I am adjusting my bts margin hodlings and exchanging some btc for bch.
I NEVER trade with margin.
Good to know, want to give a try trading after the hollydays, I was guessing if use margin or not ... if haejin does not margin, I will not margin :-)
Hi Haejin, thanks for the update! Just a side note not sure if you missed my email comms but great to get a response when you get the chance (last email at 1:07PM GMT +7, about 10 hours ago). Thank you!
Thanks Haejin for your efforts. Would it be wise to buy some altcoins and wait for corrections? Or wait on BTC since we loose USD value but our BTC stay the same? Do you suggest any altcoins which is fairly stable(I think Steem)?
Thank you.
@haejin what about the prospect of a fractal h&s which I commented here
.
There could be a bigger h&s forming now.
It formed from:
to
Started following you and liking your content for the sole purpose of pissing off BernieSanders for shit talking you...
massive value with you!!! thx
I've learned most everything from Haejin and few other things elsewhere and my portfolio is nicely diversified. Being diversified allows me to take profits from coins that are green and put them into one that are red, it's a sell high buy low strategy that helps me to not get worried when the moon pulls almost all of them down. There are still some green ones out there so study up and take it easy, tomorrow is another day
I'm hoping to see 10k again!! That would be SWEET!
I assume the worse...just sold some....I imagine all the coins will fall as well...one of those time...pre Christmas sale incoming!
11k here we come! get those orders set!
Dry powder ready because best time to buy is at the end of an a,b,c correction.
Will eth have major corrections with btc? BCH looks poised to go higher even though I thought this might also correct to 2100... ETH also broke the trendline.
Everyone should be very careful, in fact the most important minor details are actually the most important ones
This is just a response to the Bitcoin Cash/Coinbase fiasco. It will rebound IMHO.
Might have to get out before it drops to the bottom. Then get back back in at the bottom. I’m not riding this wave down
On trading account, I sell 1/3 for profits and use that to buy back in at end of a,b,c correction.
Can you define a,b,c correction?
It's in his tutorial videos linked above.
I believe he means at the end of wave 4 in the bigger picture. Someone more seasoned then me, please correct me if I am wrong.
what trading platform do you use? Please.
Sounds good. I might do 1/2 though. I’m not sure. Gonna keep following the chart
@haejin When do you take decision to sell 1/3 ? In this very example when did you take it ? Because you had different scenarios so how to decide it is really time ?
@haejin...do you sell of 1/3 of your entire portfolio (profitable or not) if as you say..."Bitcoin is the Moon that moves the tides in the cryptosphere ocean in which all alt-coin swim.
Anyone??? Bueller???
And where do you see the bottom of this correction?
$11,500 or maybe $10k or so. I don't know exact value.
What about RCN?
Very important post, excellent information that will be useful to all of us, thanks
I'm holding (or HODLing I should say).
I've taken some profits. To use to buy back.
Nice post to guide up knowldge of peoples
Follow back yes
Thank you!
Update BitShares?
Sold at neckline 16000. Getting back in at 11 ish for a big sack of profit
Cool. I got my 1st SteemPower and upvoted this Post.
Hi@haejin you are doing very well keep the good work up please to see and get information from you post.
Do You think BTS will stay phasic with BTC during this correction? Lately it shown quite nice gains, even when BTC was battling BCH.
Bitcoin is the Moon that moves the tides in the cryptosphere ocean and BTS swims in it.
Hey @haejin, In french, we have an adage which tells : "when the master point the moon with his finger, the fool look at the finger ;) #cheers and #repect for your work ! On of the folks who create a steem power account just for you guy, you deserve it !
I think $0.40
Added some STEEM. Keep it up buddy! :)
fuk that sucks, what about ltc ?? eth?
Bitcoin is the Moon that moves the tides in the cryptosphere ocean and BTS swims in it.
Let's repeat everybody, so @haejin doesn't have to waste unnecessary time...
"Bitcoin is the Moon that moves the tides in the cryptosphere ocean and ALL ALT-COINS swims in it." 8)
Merry Christmas
@Resteemed
I think it was upper barrier correction, and it seems finished.
i trust your judgement but I think you are looking too closely..let's wait for the 30min signal of completion.
Ok.
I was addressing geon,master..I do not dare to question you...
Keeps bouncing off the $15,000 to $15,300 levels..
Haejin, thank you for your posts. Beer incoming. Could you take a look at BCH for me, seems like a reversal pattern is forming.
Looks like we got support
Hi @haejin.
I go off the bitflyer chart..jpy/btc . it is still holding the neckline, and the H/S pattern is not as clear
@haejin Thank you for your post, since following your blog I have tripled my initial investments. I used your chart to practice on my own and have started to pickup trends on my own. Keep up the good work, I have benifited from your posts and from the look of it, other has as well.
Hello Haejin.
At first, thanks for your effort in the steemit Community.
I highly appreciate that there are people who want to help other people, without beeing greedy and in hope that you profit from other guys.
On the other hand, i really want to learn your technique.
In my entire life i was fascinated on numbers.
Bad thing is, you can't live that passion out in general companies, since all want to make you a slave.
If there is any way to hold contact i would be very happy if you text me one [email protected]
Now im going on youtube again, see you guys and wish you nice profits !!
PS: Merry Christmas and happy new year
We have been throughout 01 crazy hours of dumping and make the market bloody. It is time now for market correction.