SUMMARY
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Note: The Video has tons more details!
Bitcoin (BTC) overnight price action completed the abc correction from the very first five wave impulse from the bottom. Price then started rising and has hit the resistance zone of $9,079. The purple subwaves show a second set of impulse waves and that's a very good sign of a continuing turn. IF the bottom is IN; this impulse needs to breach the $9,079 and then $10,305 levels.
There is a scenario of an ascending right triangle to form as shown below. That would also be quite bullish and declining volume confirms. The $9,079 level would act as the horizontal line of the ascending right triangle.
The larger degree of trend perspective is shown below. Since the genesis of Bitcoin, price has been working towards the $20k zone to complete the wave 1 and currently, we are working on wave 2. What happens after wave 2 is done? Wave 3 is next and this way is the most vigorous, energetic and violent in its way up! The coming wave 3 will be near vertical and a jaw dropping sight to behold! I've explained how and what could drive BTC to these levels of six figure price....liquidity shortage!
Legal Disclaimer: 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
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Rough times but thanks for updates. We all have opinions that we think are right, but in the end no one really knows what is going on, what will happen. But you do provide Bullish awareness...lol Which is always good.
It’s funny because it’s true!
Why not upvote the comment you like so much, instead of yourself...
Sooo true! And behind those guys is us, waiting to see if we buy or if we sell :)))
🔥120k🔥
🤯🤑🤮
Your artsy post looks like a Las Vegas slot machine result. You may need a few more of the flames and the dollar sign eyeball crazy faces:)
When it decides to makes it move it should breakout to new highs.
I made great buys yesterday. Now just sit back and enjoy the ride. Less fear of panic with info like this. Thanks Haejin!
It's late ...... I lost again !!!
No, there is still a lower low on the table...not yet out of the woods.
I beg you. Please coach.
Just follow his tutorials and repeat until you understand them.
Why beg. Just follow and learn!
the point is, prepare for the alternatives, don't put all your eggs in one basket. That is why he says ladder your ladders: create a ladder that fits the primary count but don't deploy all your assets there. create another ladder that fits the first alternate, and so on. Don't panic if all your ladders do not get filled.
@haejin how long till the lower low?
hopefully at a point where you got money to buy! if you got money now, just open buy orders around the lowest low, 7/19 of mine got triggered, so dont do just one big, do many little orders with some range between
377 votes are worth nil? Is this platform broken?
Update on BitShares, I think there is still one more wave down. Even if Bitcoins price takes off like Haejin wrote in this post, it could make the alts go down if people are trading from alts to bitcoin. Or it could go down from Bitcoins price not being out of the woods yet and go down to around $7k like Haejin mentioned from yesterday’s post. It’s crunch time so people are getting anxious for the price to boom so that’s why there are many opinions. I can’t see any other alternative for BitShares but if you can and you think my graph is wrong let me know I would appreciate it.
Nope, you're absolutely right. Except I would have counted it as a zig zag 5-3-5 and your count is a flat, but hey, who cares, same destination right? ;)
Target is $0.17 for BTS by the way on my counting.
Oh okay yeah a zig zag is probably right, either way they both end with 5 waves on the c wave. Looking forward to below $0.20, I will be very happy, I’ve been holding off buying more until wave c finishes.
It's really helpfull that you offer multiple scenarios. As a beginner, it's not easy to keep a mind open enough to see all the possibilities. Thank you and hope you stop being downvoted (I don't really get that, by the way!).
As I said before just HODL and buy more!
You are 100% right
We gonna break out one day! Until then.
We'll all feel gay when Johnny comes marching home.
This is my favorite version of this song. I have tried to find the name of the vocalist but I have had no luck. I would love to check out some of her other work if anyone knows her name?
thank you teacher for information :)
Based on your previous post we are expecting a lower low. Is this still the case?
Nice post. So informative. I upvoted you bro
Expect the bitcoin to reach six figures.
thank you @haejin for information...
Great analysis, Ive had this same outlook for a couple of weeks now. Just hope the bleeding stops soon. Upvoted !
Oh really ? Thank you for the information :)
Thanks for the insight sensie
Green seas are on the way. :)
Sensei, Do we hodl BTC or Alts or a mix? I would think hodling 30% is a good idea.
Oh Dear, I was keeping same cash to wait for another dip as you have predicted few hours ago. But look like $9.1K is breach. I am buying at market price after reading your analysis.
I had rungs at 8750, 8500, 8250, and 8000; the 8750 has hit.
Reading towards the end of @haejin's post, I've set a TradingView alert at 10,300; if it breaches that, I'll close the rungs and buy back in at a loss:
This is my first TradingView alert; I set it up to SMS my phone. Now, I need to research putting TradingView on my phone (they likely have an Android app). Good luck to you!
Thanks for your analysis, let's hope that bitcoin does not continue to fall and already change to a more bullish trend, although it is a good opportunity to buy a bit more bitcoin
It can and that could be $6,700 or so. The key is to ladder your buy ladders to buy these lower lows if they happen.
I agree you have to stagger the entrance 8000 dollars is a good price to enter but if it goes down it would be good to buy more that is the interesting thing of staggering the entrance
I'm having the same issues with TradingView..i can't place tools anywhere without it jumping all over the frigen place...really annoying
Haejin this video is what everyone wants to hear... its is SUPERMAN BULLISH. But i would like to take you back to the video you did about the graph of Bitcoin you have on the wall.... the ultimate picture. Are you dismissing that entirely?
hm...it seems everyone is cheering about the up up up posting. however, didn't he said it would go down to 6500 to complete wave E? he seems to present both up and down ways always...to prevent any fail. Well, one could say he is simply reading the chart... Does anyone concern about the Tether situation? there will be hearing on 6th...
what exactly is the hearing going to cover? I recommend whenever possible to use bitUSD. you can do this on the Bitshares dex, but ideally it gets listed on other exchanges. I have a healthy distrust of Tether, but if there is a general loss of confidence, I could see that as triggering huge demand for bitUSD, bitCNY and other bit assets, and therefore an explosion in BTS demand.
Thank you, Haejin. Have a good weekend.
Thank you!
I think waves 3 and 5 could be less impulsive as Haejin draws and not breaking the upper resistance. If it breaks resistance, great we probably ended the crash but if not we may go to lower lows.
You initially said e was not done yet and would have another leg down to finish the wedge pattern. I am confused why all of sudden you stopped talking about that scenario. And now calling correction to be over. It seems to be falling original pattern still. I would always prefer alternate counts as well.
Been following your TA for a few weeks. Learned so much in the process. Thanks for all the insight!
So it looks you are now more inclined that bottom was already in?
If anyone want some free coins via airdrop check my blog.
@Haejin, try a different browser. If it works, upgrade/reinstall normal browser.
HAEJIN TRADING VIEW UPDATE.
I have noticed that it depends on the BTC/CHART you are on. For me today BTC/USD is similar to you but BTC/GBP is perfect. Of course slighty difference sentiment.
What do you think of the MACDs 1 week period that crossed for the first time in this bull market? Doesn't it look like a trend reversal?
Thanks! Always appreciate your opinion :)
A bit worried because I lost chance to buy this time, but I hope there is one more chance comes again.
yes
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There is still lot of panic in market people are selling their portfolio right left and centre
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As you can read on my Analysis the 5th long term wave will start soon.
https://steemit.com/bitcoin/@vonbuelo/btc-the-final-shake-down-or-shake-out
Thanks Haejin!!
Let's watch that $8000 level for a final bottom to this correction...
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We can get the big picture by imagination. Imagination is for free, but investment takes efforts and money. If you have money left, only thing you need is effort to keep the panic away. Haejin gives you imaginary big picture for free. Actually, the big picture didn't come out from nothing. That must be true results deduced by his long experiences and investment career.
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HitGroin uses the cockchain to validate tranzactions lulz
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A group of people is walking in the jungle and they cross the pad of a tiger. One smart man tells the others "nobody moves a muscle. The tiger will not attack us if we stand still. As a group we are strong!" But of course 2 seconds later everybody is running away like crazy and the tiger follows his instinct. Resulting in a big price drop!
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Thanks Haejin!!
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Despite the drop, btc has increased in price 8x in the past 12 months. Outside of crypto this is unheard of, so unless you bought in in the past 2 months you are still in profit. The trend will shortly turn and anyone who held through the drop will be quids in!!
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unless crypto really proves itself with technology, and becomes the world's choice of money transactions.. your post of price going to the "heavens" just won't happen..
Bitcoin is already considered one of the worst bubbles in history.
I think it slowly goes down from here for a long time.
I got a good laugh from your 1 2 3 4 chart where price is almost completing (2).
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I'll gladly laugh all the way to the bank while you remain a skeptic. The blockchain technology that unlays all of the cryptos is revolutionary and will change the world.
Read about the businesses behind some of the cryptos. The use as money is only the one that is assumed and the ignorant media presents.
Hey @haejin, following you now for more than a month now. Wish i found your spring of trading experience and wisdom earlier, than i would be made profits already, but i am doing not that bad ;) portfolio is down like 5% (best time up 50%), not a big thing, will rise soon. I would love to hear what you are doing with all the earned money from steem and dtube. Was upvoting and resteeming every post, but since you earning huge amounts, i reduced my upvote and gave it to some others. I hope you supporting some people who really needs it (not me xD)!? i know there are many good projects(permaculture-gardening for example) who could use support (i support some where i can), are you doing this kind of thing? sure its up to you what you are doing with that money, its yours, but i for example living from 10.000 euro a year ;) and i have a good life. hope you know some good people you can support?! Have a great weekend all together. Ben
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@Haejin Finally proper use of Elliott Wave rules and fractal waves. However, the macro count is just thrown on the chart. We're actually finishing the 3rd wave impulse. Which means we've already finished it at 20k or we have one more blast up to the 40k area. After that, BTC goes quiet for a few years while macro fireworks occupy trader's minds. Look for a similar correction in wave 4 as previous wave 2.
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Aww so cute that you think I care @berniesanders bot! Also have been vehemently against Haejin. Try getting your bot to read posts before responding! :) Ohh and feel free to eat shit also. :D
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What are you flagging for?? I am new here; I couldn't understand..
he is just a little boy, full of hate, asking for attention