SUMMARY
AppCoin (APPC/BTC) is still in the corrective mode. The initial bottom that had been targeted was exceeded with a lower low. Is this the end of the world? In a word, no. It's called trading and welcome to Technical Analysis which is not based on the probability of certainty but probability. The below chart shows a pattern potential of a Cup & Handle and Elliott Waves have been updated to target a potential bottom. The correction is moving as an ABC and the next chart shows the filled in subwaves.
Precision identification of a corrective bottom is always a challenge because just in Elliott Waves, there are 36 different combinations. That makes it 2.7% chance of precision spotting. That is why I developed my laddering technique and also why I ladder my ladder entries. The below chart shows the corrective counts and subwaves. The first blue circle is the the initial ladder entry made as it was thought to be the bottom and a new impulse was being initiated. However, price has made a lower low. So, do I just sell everything and go home? NO! I now prepare a second ladder entry without selling the first. This makes two ladders and a third if required. IFhe ABC correction is projected to now complete in the zone of the second blue circle; the ladder rungs would be placed accordingly. What do I mean by laddering? Check out my tutorial on this technique as linked at bottom of this blog. Has the bullish outlook changed? No. The correction has not yet completed and should the blue circle region represent the bottom, the "zip up" effect would bring prior ladders to profitability. Once the trend reversal occurs, the second ladder profitability will come first and then the first. Cash preservation is also key as emptying one's wallet into a single ladder entry would not allow the cast of a second entry.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
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https://steemit.com/abuse/@transisto/open-letter-to-ranchorelaxo-and-haejin
Is retracement done after 10 red days or will there be some more? Definitive bottom could be somewhere around 4400 sats.
If you have found this blog post interesting or valuable, please remember to upvote it. If you have something to add to the conversation please feel free to comment and please upvote other good comments.
Haejin and the community that supports his content are under attack, but there are way more of us. They can't hurt us if we help each other!
Ranchorelaxo's upvote is 1 million SP. His one vote is equal to 66,000 new users upvoting. So it doesnt matter that there are more of you.
I am still waiting for Steem Backed Dollars to go to 30$ like Haejin said they were a couple months ago. After my SBD goes to 30$ like Haejin the pro analysis predicted.. I will see m SBD and go into waltonchain to catch the next huge gains. I just have to wait for those huge gains he talked about 2 months ago to materialize. SBD went down 50% instead of up 1000%, thanks Haejin. Its been 3 months since you said SBD would go to 30$, how many more months until it goes to at least 7 like it was when you said buy it because it would go to 30$? this post from Haejin shows how TA works, which is to say it doesn't.
Bitcoin is the best.
This comment has received a 0.31 % upvote from @speedvoter thanks to: @akram9205.
patience is key here guys
Cool waves haejin !!! You are perfect at technicals.
Thanks heaps for the update Haejin, casting more ladders as we speak!
UPVOTE THIS MAN!
I’m bearish about this coin. Down trend line is strong. Let follow futures movement.
Wow
Wow
Coins/Tokens will only listen to haejin. They just bow him and follow.
yea, always Bitcoin is the best.
Glad I'm following you dude, content like this is a credit to Steemit.
I read with great interest your article, very good.👍
Haejin, you said SBD was going to be 30$, 3 months ago. Any idea how much longer one might have to wait before your TA comes true? My guess is that SBD will NEVER, EVER be that high. It would help the price if you weren't selling thousands of SBD every week though
Perhaps it was a better maneuver to have stayed with the bullish roll up with the top 3.49
Please read and decide for yourselves
https://steemit.com/steem/@mattjack/censorship-on-steem-platform-proposed-by-witness-bernie-sanders