BTC_Morning Update: What are Fractals?
6 years ago in #dtube by haejin (85)
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BTC
Great Post!. Interesting Story. I want more of this. Keep it up
BTC seems quite trapped at the moment
Bitcoin has eased off in the past few hours. Hopefully it will explode up as suggested, to the region of $20k!!
BTC has been stuck in limbo..
This guy's counts don't follow the rules of Elliott wave. Within a 3rd impulse wave you should be able to count 5 sub-waves--with the 3rd being the largest. These sub-waves are fractals. Flags are not Elliott fractals.
The sub-waves of this apparent 3rd wave do not appear to be forming 5 waves within the higher degree 3rd. The count already looks invalid.
BTC is following a reversion to the mean down to 8,500-9,000 to hit the 150EMA.
Larger chart here: https://www.tradingview.com/x/WMJAkpWR/
GLTA
The Capitalist Bear, enough said already, I stoped reading reddit comments, now i guess I have to stop reading comments here also, to not get fooled.
I noticed that too. I am wondering if haejin can keep up his reputation when market is not good like last June and July. BTW, does the 3rd wave rule work in crypto? I think it doesn't necessarily be the largest sometimes.
The rule portion of the 3rd wave is that it must not be the shortest. Not always the longest.
True
The 3rd wave rule being the longest in cryptos is only sometimes true because like commodities, the fifth wave is often the longest.
It "cannot be the shortest" is the rule as far as I know - in other words, it it IS the shortest, your count is invalid, try again - that's my take so far. But by saying, "you should be able to count...as the largest" the guy contradicts himself.
EW is based on the Fibonacci Ratios and the Fibonacci Ratios are the Ratios of nature. Do you think that with the invention of Bitcoin the National Security Agency of the USA managed to overcome the Law of Nature?
Agreed. You don't get flags, caps or any other kind of nonsense in wave 3. A reversion to the mean down to 8,500-9,000 would be the bare minimum. A weekly close below $13282 implies continuation all the way down to the lower $4K. And that is what I put as the BTC target for 2018.
https://www.mql5.com/en/charts/8134910/btcusd-w1-simplefx-ltd
13600, no lower - Haejin may still be at 15k, but I said down to 12k maybe yesterday - still, 13.6k is my best guess. I had been hoping for 8k like Mike Novogratz and all you guys, and dreaming of $4 to finally get my Lambo - but let's face it boys, talking it down on steemit and CNBC for Roger & Ver just may not work out.
Most people hodle along anyways and all the Indian peasants and their Rupees are now excluded from Bitfinex and Binance, so they cannot be made to panic.
For the current leg down you are right, - we are looking to bounce from $13550-13600. But impulse waves don't start by bouncing around. Especially third waves.
Yes, there's a very strong band of support between $11700 and $13860 provided by the Gann's square of 9 daily cycles congestion zone and we will need quite some time and effort to level it off and to eventually break it through. But once it's done there's nothing serious to hold this market all the way down to 233 days WMA currently @ $7700
Last but not least we are not talking tomorrow or next week, we are talking 6-8 months from now.
Here's a thorough EWA by TradingDevil, not sure we can find someone better than this guy.
I don't remember all details of this analysis but he's on the same page as Haejin.
As expected, we began our move down to the 8,500-9000 area with authority. I suspect we're nearing the end of subwave 1 down, correct up in 2 and then violent 3rd wave down.
All the comments below are excellent. Very astute Elliot technicians!
Excellent point, wave 3 just can't be the shortest, and 5 is sometimes longest. Very good clarification.
Interestingly wave 3 can be short in an ending diagonal, but that is EXTREMELY bearish! However, typically 3rd wave is longest with 5 defined fractal sub-waves. The typical projection for wave 3 is 100% to 161.8% of wave 1. It's an impulse so it explodes, it doesn't dilly dally around like above.
AstonMartin: Yes the 3rd wave rule applies to crypto. Elliott applies to all tradable assets. Crypto, gold, stocks, bonds, forex, real estate, etc. It applies to everything that is traded by human beings because i models human emotion. Emotion drives 90% of price action IMO so as long as humans are trading it, their emotion is driving its price.
Here's the my primary count. Feel free to rip it apart. :)
You have proved to be incredibly accurate with your TA. Maybe you should spend more time studying TA and less time running haegin who actually knows how to do it down.
explain
Let's face it, it's all bollox, if it were that easy to use formulas from past charts to make profits, everyone would do it.
Cg
Well... it's all we have, to compare the past and the typical developments, as in 'history repeats itself as human nature never changes' - and TA, EWs and Gann's and all that jazz try to stylize this and put it into formulas. Rituals.
That's all that can be said.
The entire cortex is a possible-futures-prediction instrument that works better the larger it is, to a degree... but with larger size, a secondary effect sets in.
We can predict the future better than a dog can - but we also refuse to react and stay inert when it gets difficult, where the dog just flees... this because the multiple possible developments make a decision harder.
The pilot whale, with almost twice our cortex volume, playfully dreams and creates its own reality, floating in the ocean... we're in that same box ourselves and I can easily prove it.
Think gods and afterlife, and how the average human will prefer paradise to fickle Elliot Waves any day ;)
Your analysis are the best, good video :D
Hot money goes elsewhere, and each cryptocurrency will have its day on the sun, until they are all there or there about. This continues until, in the real world, markets crash, at which point all the institutional money will be needed elsewhere, and all the trivial amounts in crypto get recycled back into "real" money, because there will be a huge need for "real" money.
Could you please do an update on Litecoin?
It all boils down to the lightning network.
What is gonna happen?
Haejin, please don't use dtube, it doesn't work here, never! I am not into fractals but i think there is a nice fractal on Steem/USD forming, 2nd explosion expected in a few weeks
Bitcoin is like my life. Even though it might be low right now, I am positive that it will get back up.
Follow us at CloudConnect if you need help diversifying in alt coins that will forshure take you to a whole new level.
Great Post Keep it up @haejin
Please share your opinion on my BTS chart!
https://steemit.com/bitshares/@xantos/bts-summary-since-new-year
Maestro you could please keep the updates on youtube as well, the quality of DTUBE videos is much lower than 480p and there are no subtitles,,"excuse me but sometimes I struggle to understand and help with translation
graces
Maestro you could please keep the updates on youtube as well, the quality of DTUBE videos is much lower than 480p and there are no subtitles,,"excuse me but sometimes I struggle to understand and help with translation
graces
Hey Haejin, both videos don't work for me.
That's the dTUBE...I gues not working.
dTube does not have:
And if we combine all those things then it does not work for some users and is too slow for others.
It sucks do download almost ~400MiB full quality file with 10 minutes of video that on youtube is equal to 1 hour of video.
IMHO dTube is still too far from production ready video service.
Can u look at Sugar Exchange - it is neww and has exploded. I think huge potential on coinExcahnge
It works for me
Works
Can you explain the rise of Dentacoin ?? Thank you !!!!
working but lagging, and in my phone (android) not working
Video did not work in Firefox for me. Opens in Chrome just fine though (for others who may be having issues).
Have you setup your Dtube account? It's works for me.
dtube worked for me
Haejin, can you explain the rise of Dentacoin ? Thank you !!!
Dtube doesn't load but you can download the video from the lower link, and play it on your device
There's no reason why brave should be faster than chrome, as it's a chrome clone with spices- I use both and haven't found brave to be faster.
Firefox and its clones are slow, this is because the chromium clones keep so much in memory, especially with lots of tabs open - firefox don't. So, faster loads for many tabs with chrome/brave, but more chip power and damn much memory waste. Try opera for a good compromise.
Nice post. Thanks fot sharing, I found your regular analysis/update very valuable to us the steemit community. I upvote you.
If you need further resources check out our page CloudConnect for additional massive profits..
what are your thoughts on ETH?
Keep us up to date :D
Yes. Very informative work thanks for this type of stuff
Bitcoin decreased overnight with 6.75 percent , but everything what go down needs to go up
Bts and Evx update plz
Can you write the post too? Can't see the vídeo. Thanks!
Thanks for sharing !
thank you for great information <3
Excellent update news about blockchian, Cryptocurrency and bitcoin trading system. Thanks
https://steemit.com/cryptocurrency/@racoo/mr-zuckerberg-is-learning-how-cryptocurrency-works-racoo
Good post! Side ways pattern.
can u plz explain something about Swissborg ico?
@haejin thank you so much sir
If you want to view where the Pumps come from - https://discord.gg/YKfwD5J
haha I'm glad Haejin's trying out Dtube.
@haejin any chance at an evening update?
How does this work for evening update? I see 5 waves from bottom, I see we could b on wave 5 of C in the flat Haejin described, but it doesn't seem to have retraced enough for my liking. So I probably did something wrong.
Hmm I just realized B finished higher than the end of 5, ever so slightly. That is not possible correct? Could mean my B wave could be end of 5, which means we are are on wave 5 of A. That sort of makes more sense as we have not even retraced to the .382 yet.
Feedback? :)
edit redrawn
10k would basically be the last train out to the moon
Hmm a flat bitcoin. Could it be worth moving to ETH or LTC until we see another upwards movement?
https://www.coinigy.com/s/i/5a52f6606ca4f/
My Eth chart for what its worth. May not be ideal time to enter at position. I just regret moving 1/3 of my Eth to BTC a few days ago.
This is just awesome...Youtube can suck it....this is way more stable than a few months ago...thanks haejin
That's not saying much:). I couldn't get on a few months ago and can't now either...
Sorry to hear that mors..i can get on just fine and it's fast and smooth
mors...i've gotta retract that statement...now all of a sudden dtube is working like shit...i now see what you are talking about...lol
Yes. I will follow all your post
This is scary... I don't want this, lol.
Videos dont work
Hi! Could you cover ICON (ICX) for us @haejin?
Video not working
@originalworks
Hi,
Can you upload chart about LTC\BTC please?
Thanks!
To be honest, what's wrong with YouTube? It is cooler.
Worst review by haejin.
You have to remember that @Haejin reports his PRIMARY COUNT on these updates. If you look back a couple of posts he clearly describes alternate possibilities. One of those is pretty negative. It's really up to you to look hat his calls and decide for yourself if the price pathway is following his primary prediction or if another pattern is developing.
Personally I don't like what BTC is up to right now but the BCH/BTC pair abd BCH/USD both look to be at the apex of triangles. But don't follow me, draw a chart
Watch this video. All he said is bitcoin likes fractal. lol
Well done you, well researched.
Now watch all the others properly.
Oh and the one he just posted referring back to the one I mention above.
Good Morning @haejin and to the Followers in here !
https://de.tradingview.com/x/dzTyTBRL/
what i am thinking ^^. i noticed the M fractal. After every M fractal there was a little correction.
The little correction looks like an a-b-c correction in form of the expanded Flat (3,3,5). Now the direction could be up. Of course there are other probabilities for a deeper c, I think, lets see what will happen. Thnx, i am learning from you @haejin. Have a bullish day my friends.
Great Job dont stop !! Just do it!!!
Do visit @mariantsvetkov ... Like❤️Follow🏃Comment ✍️me if you like my posts...😀...!
많이 배우고 있습니다.
좋은 분석 항상 고맙습니다!^^/
https://www.tradingview.com/chart/XVGBTC/h7Nwv6Sz-Verge-personal-training-analysis/
Master, Haejin, please tell me your opinion on my analysis of Verge!
With the targets of the subwaves of wave 3
1=1608
2=1286
3=2132
4=1809
Final subwave 5 of wave 3 =2455 on VERGE!
note:i don't know how to set the price according to the passing of time