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SUMMARY
Bitcoin (BTC) price action today met and exceeded the minimum target of $13,810! The bullish ascending right triangle provided the solid base to allow price to decisively breach the upper trend line of the channel. This is significant as this now allows Bitcoin to head towards the $15,522 target for white wave 1. Following this, white wave 2 will most likely head back towards that upper trend line but it will likely serve as a staunch support. Video has more details!
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.**
Bithumb's controlled correction.
Meanwhile, I am stuck in the grey mempool for 15 hours.
All I want for Christmas, is a BTC that works.
I quit using BTC for moving money a while back. Never again, not unless Lightning shows up and shows off. I cannot stand not knowing if my transaction will ever go through, if it's lost, or who knows what....customer service doesn't respond on any site until the transaction finally pushes through two days later. Ethereum network is clogged up as well. Besides BTS, Ripple is my go to for moving money.
Three letters...L.T.C.
BTS
Looks like they all have three letters.... xD
I've still been using ETH. It's getting clogged up but still works well if you up your gas a bit. I use the ETH Gas Station to see what a good level is:
https://ethgasstation.info/
I hadn't considered using Ripple but may do so in the future.
ETH is just fine got my withdraw in under 5 mins in exchange.
Not for me I sent some EOS from ledger to sell at exchange and nothing . Hope it comes in before the next wave up finishes.
Dash always gets the 6 confirmations in 15 mins. NEM, PIVX, XVG are also pretty fast. BCH and LTC does well too.
How does something get less functional and have less utility and go up 20x in value. It's not right and it does not adhere to logic and something has got to give eventually BUT I guess this could go on for awhile yet. Crazy days.
Thank you Haejin! I waited and bought on the dips with All I have been learning from you! Bought both books and technical analysis just showed up!!! So excited to learn and grow you are helping and not harming I can't thank you enough for all that you do!!!!
I wish you MASSIVE PROFITS!!
If Haejin turns out correct on this one, I have to come to the inevitable conclusion that despite the incredible complexity that might be ongoing behind the scenes, at he end of the day market creates rather typical patterns that unfold in considerably simple and predictable manifestations. While others try to project the motion of celestial bodies using quantum mechanics, Haejin seems to use Newtonian mechanics and guess what it just works much much better!
I use price, the most direct reflection of sentiment and count it using Elliott Waves
I can confirm that the price of BTC went exactly as Haejin predicted. Wish your Civic projection also comes as true. been only losing on that horse
For me, it became impossible to deny the evidence presented right in front of my face.
This is a big deal man! This is a freaking dead coin he is talking about. An abandoned ship! Many university profs will go nuts over this.
I'm very grateful, therefore, I'm sharing the links to your work on my social media as way to express my gratitude.
That's the greatest gift you can give both Haejin and those you know on social media! Thank you for supporting Haejin's blog!
Currently, the BTC price uptrend is unstoppable. When more and more people pour their funds into the crypto space, it will only propel the prices upward.
You are THE MAN!
You're a legend Haejin!
Say no to "Guru Buffets"...priceless advice!
bitcoin forming a parabolic curve...dear sir please explain it.......
Sentiment
6 forks!!!
Thanks! 🚀
Perfect as always! Thank you! Will Iota explode again as I'm thinking? I'm guessing $10-$12 by end of December.
This was very very helpful. Thank you!
@haejin, any thoughts regarding recent movements and the possible outcome of BCH?
Wave 3 is extended because of probable inverse head and and shoulders forming.
Thanks!
Guru Buffet Line! LOL. I've been down that road and it's a waste of time and money. Thanks for another educational video!
Whoooooa... wait a second. Ok, admittedly I've been busy with work and not able to view all videos in their entirety. So can anybody fill me in on the new wave count for BTC?? I was under the impression that we were in wave 3 of 5...but now the chart is labeled as being in a wave 1? Last time I was following closely, I thought we were looking at a wave 3 target (that has been adjusted) to reach $15,522, a wave 4 correction, and a wave 5 peak over 20k somewhere. Is that count out the window now, and are we really in a wave 1? Or was this simply an issue of a typo on @haejin 's chart?
These are subwaves of the larger degree of trend
Ahhh, I see now. Thank you for the clarification!
Hello @haejin
I am very grateful for all technical analysis you've done.
Recently you've mentioned IOP, is it possible to run a little update on that coin?
Thank you!
Hello Haejin,
Could you make an analysis of Bitcoin Cash ?
Good analysis, I wonder if you have videos of analysis when market is going down?
Yes, during the two major corrections in July and Au, I nailed the bottoms. The blogs show proof.
I'll update on next correction.
Great to know, following you for more future technical analysis. Keep up the good work!
Ok... there is an explanation for this: a there's a fork mania on its way. 6 hard forks are about to happen. We saw this with BTG and something similar was going on until SegWit2X got canceled.
Important question for me Haejin - a lot of Your blogs show alts gaining in BTC pair. It's quite consistent in most alts You analyse.
Combined with "something big is coming" topic You created a few days ago. Do You believe something will happen that will make alts stronger in the long run?
I'm asking because alts once again ate most and in many cases all the gains from last week, because of BTC run that's not stopping. When it does stop and correct, they will suffer again.
If BTC tops and starts to correct very slowly, then alts may catch up a bit, but as You said, BTC is in parabollic move upwards and when correction (the big one) comes, it will not be peaceful, but bloody and fast. Alts will get butchered too.
What I wonder is - what's the scenario for population of alts to gain on BTC in mid-term? It shows on charts, but I can't imagine how it can be.
Edit: just need to add - funny thing is most of the alts I observe (BTS, IOP, XVG, CVC and now ADA and ADX) move more or less exactly like You charted :-))) they should move up very soon. The question I ask above is in short words "how on earth they can move up so significantly with BTC behaving like it does". It doesn't seem possible for BTC to calm down and stop moving for a few months, not in it's parabollic state. Very interesting times.
Thinking out loud - maybe the products ICOs promised to create will start popping out and we're on the verge of shift in thinking about alts. Now most of them are perceived like purely speculative assets or how I like to call them "weaker and clearly sick children of BTC". If they will, one by one start proving they're valid, prospective businesses, they may as a group become less dependent on BTC.
But I don't see this yet. It will come, but I don't think it's the time.
News or evenst shall arrive to justify the forecast...I just don't know the details of the news or events...that requires a crystal ball.
If it was only crystal ball, I would gladly buy You one. And not some cheap ebay one, but a vintage real thing. Unfortunately it would also require one to have some magical powers...
Hm, maybe You are a mage?! It would explain a lot.
Ok, off to buying You a crystal ball then. When at it, I'll buy myself pair of steel balls for altcoin market drops like today ;-D
Damn, crushed it overnight again Haejin!
@haejin any update about the current BTC course?
So stressy! Should we take profit? Will it collapse after this insane movements?
New Short Term Target $25,778! 😎😁