SUMMARY
When using the line chart for Bitcoin (BTC), the five waves down is uncanny; as shown in the below chart. The line chart has a smoothing effect which does at times skew the count to a different variation because it removes the barchart details. However, the five wave downs implies a turn is approaching but also still within a larger correction. The MACD on the weekly basis has not started curling upwards; however, once wave 5 is complete; that curl should be more visible.
The larger degree of trend correction is shown as an ABC. So, the first five waves down become the subwaves of red A. This would make the correction a ZigZag. The approaching turn could be sizable but not necessarily a trend reversal as it'll likely be a three wave retracement. This B wave would also curl up the white line of the MACD and temporarily have it cross thed red. But, one thing to consider is that an 8+ year climb takes a correction that could very likely take more tha 4 months to correct. The B bounce will likely be misinterpreted as an all clear skies ahead and the shocker of the later wave C down could be painful to all who were not aware.
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
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Tutorial on the use of Fibonacci & Elliott Waves
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Haejin, sounds like you are embracing the bear market case, unfortunately, which does seem like a likelihood now (what about all our great alts!!?)
Still, when you say 8+ year bull run - are you saying the whole of bitcoin is due for a correction, or did you mean to say 8 months?
Well, concerning all our great alts,
Here, only one year after any crypto buying action the full return can be cashed in legally without having to pay any taxes whatsoever. Everything before that timeframe underlies a stricter legislation, which is why the short to middle term market (facing the C wave correction @haejin is taking into consideration) is not too frightening in the end.
In other words: The final C wave ending would be the time to get into new positions and altcoins be HODLed for even later. Concerning altcoins:
Here's my latest article on TRON's testnet launch and some more details. Thanks for reading and upvoting!
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This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX ENVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW this person now. Do not UPVOTE or TRANSFER any FUNDS to his account. Any money you send to this criminal can be traced back to you.
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I've been studying this tonight and I don't think it's probable. If this count is correct then wave 4 infringes on wave 1 as seen in my chart. The line graph he is using removes the wicks but that means it would violate the Elliott Waves. If Haejin is right then maybe we see a decoupling of the alt coin market and Bitcoin. That would be fantastic if that is the case.
He really don't care what he says. He just wants your upvotes. That's all he wants from you. He can care less if you even read his post. 99% of the people don't read it anyways. You would make more money simply by flagging this scammer. All you need to do is start flagging Haejin & I guarantee you will earn more money than you did by upvoting him.
ok, why so angry, if you don't like just move, an upvote cost nothing to anyone, first.
I always find very interesting points from Haejin and mix them with other approaches and make my own opinions on BTC or other crypto, and I am fully grateful for his work and time.
I wish I can see your work, your point of view, instead of spreading hate.
You have made 4 post on Steemit & you think you already know everything there is to it. Boy go back to FACEBOOK.
😂😂😂💪🏽💪🏽💪🏽 love It.
His account is valued at 86 cents & he is telling me to move on. I know my account isn't a whole lot. But there is no way he has got knowledge from Haejin. I doubt he even reads a thing Haejin post. He probably thinks he will get paid from upvoting him.
Haejin was a "genius " during a crazy bull market. It's easy to be right when things are running out of control upwards. The fact is Bitcoin is so young still.....and nobody can use any kind of chart to predict shit. The only smart thing to do is whatever YOU feel comfortable with. Steemit is more complex than BTC/LTC/ETH put together and there is no way to understand it all in even six months let alone four posts. There are a lot of angles that can get played over here.
@h00pla85. Your argument Is one that has been repeated countless times ad infinitum ad nauseum. Is there anything in a system of financial capital that prohibits, expressly or implied, that one can not collaborate, collude, even strategize to maximize one's profits?
Or that allows one to call (or not) any play any way one sees and if it is in a public marketplace, say youtube, that lets random strangers (not all with the best of intentions), followers, anyone online your blog, site, chat ⇾ comment, up and down vote, reshare?
Isn't this the invisible hand of the market adjusting to compensate for the wisdom of the crowds and their omnipotent pluralistic, jingoistic, oligopolical 'winner take all' all powerful 'voting' power. (i.e. the mandate of the people)?
You think celebrities, professional successful musicians, the talking heads on the mass media and every other joker on this planet who thinks they are the grand poo bah and everyone else who acts as if they are the king, emperor, Sith Lord... or Decepticon 'deserves' it? You'd include politicians, CEOs and family members who make 1000x to 1,000,000,000x+ the rest of the majority (99.999%) make, sometimes (often) while hurting and not helping?
You think the garbage corporations who monopolize and spew out pollution, toxic chemicals and crappy products and scam and con fraudulent services and MLM/pyramid scheme type of 'take the money and run' 'fly by night' are making their money fairly, honestly and ethically?
how do you make money from flagging?
@haggislove you don't make any money from flagging. It is mostly (except in the most egregious, blatant, intentionally offensive forms of harassment or pure click-bait trash) a waste of time and voting power.
YOU WILL GET PAID FROM FLAGGING HAEJIN!!!
https://steemit.com/mmorpg/@flagawhale/steem-quest-1-flag-a-whale-mmorpg-damage-payout-estimates-2
Are you a complete moron, @thabiggdogg?
Knock it off.
Are you a turd stick, @akiramorikawa?
Go Fuck Yourself!
We have a guy that has a bot that keeps track of it. Visit @FlagAWhale for more details.
What do you think about this analysis?
Make sure you downvote all of @Haejin's scammy post!!!
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@jesseluther, it is not so much a case of @haejin 'embracing' or welcoming, even desiring/wanting a 'bear' market, say BTC to go down ↓↓↓ to 4.8, 3.2 or bottom out at 2K. It is, as @passion-ground so passionately expresses, that we as analysts (and would be analysts) are always following the price action, which dictates our responses (not the other way around, such as the charts, Moving Averages, Volume, RSI, MACD, OBV, what one or another bitcoin pundit like Tone Vays declares : 'it must be so, this way, down/up trend'... the news).
WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX ENVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW this person now. Do not UPVOTE or TRANSFER any FUNDS to his account. Any money you send to this criminal can be traced back to you.
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@jesseluther I think @haejin is referring to the 8 yr bull run from Bitcoin's inception to now. That it may take a while to consolidate and correct since it's not as if we got to where we are overnite. I know @haejin has referred specifically to a '4 month' correction (if you look at the bottom annotation of his charts on his (more recent) youtube videos).
And certainly, indubitably... absolutely... the others (not BTC just) in the crypto ecosphere are (often) analyzed.
Indubitably lol
Ouch, that will hurt...
You did say sometime ago that we could drop to $4k or below and that is looking more likely now!
@haejin what is your opinion of $STEEM coin long term? Do you consider it a HODL?
It is rumored that among @haejin's favorite coins are STEEM and BTS (certainly, it is factual that he has utilized STEEM rather prolifically)
He likes STEEM because he FUCKING SCAMS IT!!!! It's like saying a BANK ROBBER LIKES BANKS!!!
@thabiggdogg. Bank Robbers don't like banks?
Ah. Banks. Let's start up a whole convo about Banks. And who's robbing who. Peter to pay Mary (or is it Paul? I'm so bad with names and numbers). Pot Calling the Kettle Black. We can start with the subprime mortgage crisis, the $12 trillion+ Bank Bailout. The Stock Market.
Go on. I'm all ears.
BTW Do Robber Barons like Barron's (Pizza?) or just highway robbery? Or are predatory corporate takeovers and malfeasance (do Bernie Madoff and Charles Ponzi sound shady to you?) not to mention default credit swaps and financial market manipulation and insider trading more to their wicked ways?
Today I'm wearing black in mourning because I have the blues from bitcoin being in the red from not enough green #icominter
These negative movements in Bitcoin seem to take time to wait for a big leap. Even if there is a rise in Bitcoin, I believe that it will not be on a bigger scale, and the decisions made in future times will affect BitCoin.
Hi @haejiin, this scenario is your first option?
Ok, so it seems the bear market will continue for a little while longer
Bullshit. Sorry. Dont trust this ...
So much for your freaking fireworks, lol!
Hoping for a bull run here, but just in case, I'm in USDT
I'm hoping #HAEJIN will stop his scams on #Steemit.
Bitcoin Price Down.
What do you think about this analysis?
EVERYDAY A NEW PREDICTION
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Am i the only one who wants bitcoin to just stay at like 5-7k ?
Well,this is only his opinion for today.It does not mean,it will happened.From optimist,he became pesimist,in short time.
some say: Pessimists are optimists with experience
Ok wow
Waiting for longer term I guess
Haejin uses a different system than i do, but my system is also saying 3 to 4k. thats the price where bitcoin will be at a discount and where the whales will buy HOpefully. If not we are doomed.
and what is your system ?
Pure supply and demand. i don't use any lines etc. Just buyers and sellers
very good analysis: http://cryptosrocket.com/btc/2018/03/29/lets-see-the-big-picture-and-whats-next
Nice charts and interpretation. I'm wondering what's going on with the market right now, but I'm also suprisingly positive about the long-term. The short-term is certainly going to be a bumpy road and I have aspirations that we will see some volume and value growth as the summer winds down. A very insightful person here in the STEEM community had feelings that we'll have a bumpy road until the fall...but I really don't know too much...I just read, watch, pay attention, and do my own research. Respect to all still in the game during these crazy times! -Respect
Sorry Haejin, but why this sentence comes only tonight :
"But, one thing to consider is that an 8+ year climb takes a correction that could very likely take more tha 4 months to correct. "
?
Haejin first of all a BIG thank you for everything. Just wanted your opinion on this scenario, if Wave 3 exceeds 1:1 and almost reach 1.618
Case1) Wave 5 can possibly reach 2.618 Fib Ext so target price will be $2,400
Case 2) Wave 5 can possibly reach 1:1 wave of 3-4 wave Fib Ext, the target price $877
I hope I m wrong but are these possible?
Its this time of the year
.
Haejin, I really think you should put out a video on this one. This is a HUGE deal for Bitcoin. Also I don't see the same with Verge, LTC and other coins so maybe we will see a decoupling from Bitcoin?
Haejin, are we currently in wave 4 of a larger degree?
Thank you for this analysis master ! Being your students, I forecasted this exact waves in my view here:
https://www.tradingview.com/chart/BTCUSD/DGuZH9Fs-BTC-BTC-yo-ure-my-BTC-You-can-give-it-to-me-when-I-come-along/?utm_source=notification_email&utm_medium=email&utm_campaign=notification_vote
The question I have is : how does this relate to previous post of the ( 4 hours earlier), which suggestes more of a "W" scenario ? Is this invalidated or is it just another possibility ?
Bitcoin (BTC) nailed the 0.887 Fibo at 6600$ from the previous swing low to swing high, bulls or bears next, read more in the post
https://steemit.com/bitcoin/@linko-crypto/bitcoin-btc-nailed-the-0-887-fibo-at-6600usd-from-the-previous-swing-low-to-swing-high-bulls-or-bears-next-read-more-in-the-post
Great long term perspective. Wait and see..
Coins mentioned in post:
Thanks again @haejin for sharing your knowledgeable insights.
@To all those who are interested in the latest news about the TRON (TRX) protocol, check my latest steemit article! Thanks for sharing and upvoting!
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Make sure you downvote all of @Haejin's scammy post!!!
EARN MORE MONEY ON STEEMIT BY DOWNVOTING @HAEJIN VISIT @FLAGAWHALE FOR MORE DETAILS
Ok i am going to downvote
IF everyone of you upvoting haejin would FLAG HIM you would be making so much more money!!!
FLAG HAEJIN $ GET PAID JOIN @FLAGAWHALE
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WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX ENVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW this person now. Do not UPVOTE or TRANSFER any FUNDS to his account. Any money you send to this criminal can be traced back to you.
WARNING - WARNING - WARNING - WARNING - WARNING
Make sure you downvote all of @Haejin's scammy post!!!
EARN MORE MONEY ON STEEMIT BY DOWNVOTING @HAEJIN VISIT @FLAGAWHALE FOR MORE DETAILS