SUMMARY
Bitcoin (BTC) overnight price action is adhereing to carving out the subwaves of blue wave (3). While there is a current bounce, the frenzied capitulation phase could be taking a breather. Once blue wave 3 completes, a larger bounce is expected to ensue. I personally don't try and trade these bounces...it's too much of day trading. And such never works consistently.
I've drawn out the 1.62 x blue wave 1 length using vertical lines. This would be the first level projection for blue wave 3 in an alternate count with a second landing zone. From a Fibonacci standpoint, this price distance measurement fits well. Recall that wave lengths are always measure in price distance, never in time distance. This way, wave 2 could take alot longer than wave 1 in time, but remains much shorter in price. Confusing wave length with time is a common Elliott Wave newbie mistake.
Here is the bullish alternate count where the five waves down for red wave C could be complete. If so, it could look like this as if blue wave 1 was extended. However, this would not be my primary count, just a second alternate but still good to keep in the awareness zone.
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
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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Hi @haejin, do you know why or can you ask @ranchorelaxo why he flagged this post?
https://steemit.com/witness-category/@jasonshick/meet-our-witnesses-netuoso
Explanation for high upvote
i sold my bitcoin at 9500, i saw it was going down and u mention it going to 8k but after few hours bitcoin spikes, and i lost money , any how thanks
Translation: btc went down. I saw this and became fearful of taking a loss. I searched for justification of my fears. I found a Haejin post. Haejin post said 8k was possible. I sold at 9500 maybe assuming I could get 18% more btc this way! Oh dear, it went up, but its not my fault, I sold, but definitely not my fault.
@haejin is not a fucking magic seer and I do not know if the TA is bullshit or not, FWIW I have used a few tips to place bets on several crypto that have been successful, using his tips along with a lot of dd I do myself. Hell, its even fun just to see if something I hold pops up on one of his posts! (this is the important bit) HOWEVER: EVEN IF I HAD A TOTAL LOSS with coins BASED ENTIRELY OFF @haejin tips I WOULD NOT EVER CONSIDER BLAMING HIM FOR MY ACTIONS... are you kidding me?
Take some responsibility of your own actions like a fucking adult.
My apologies for the maybe not so subtle attack, it does suck seeing your shit go down and I wish everyone the best of luck as a general rule, but a cool thing about crypto is its all about being the sole person accountable for your own money, including why/how/when/where you buy/sell/trade it.
tbh if you still have the cash there is a non trivial chance we see 8k and you can buy back in.
*edited a word
🤗postingan yg begitu bagus
? Are you blaming him?
This drama is so silly... I can't even..
Hi Transisto, I know you are a very reasonable Steemians.
Can you do something to solve issue with racist laden flag war?
If you truly review this blog, they have helped a lot of people. Which other blog gets 30k plus views? At times 10k on the first hour? The thousands of new steemit users this blog has brought. I've checked all of this blog's DTube posts and there are so many who get more payouts than Haejin per post. But their viewers are not even 1/10 of Haejin's.
I think Steemit whales like you should help Steemit Super Stars because such talent and attraction to Steemit he stands for is of value for the community. There aren't that many Super Stars in steemit and without help, they can go elsewhere.
Can you kindly help in any way?
Thanks
Hi Transisto, not sure, perhaps he was angry and was downvoting @berniesanders and accidentally downvoted this without seeing it was a resteem. I'm sure it can be fixed.
Kind Regards,
Haejin
Market is dropping hard. People are going to rant cause they loss maybe half their previous profit. What to do? Keep learning about wave patterns and TA. One day we will be better. Trading is like this.
Yup, and for anyone who doesn't want to learn a lot about technical analysis, just buy after crashes and HODL!
There’s just too much to learn. I’m already addicted though.
Dont learn from haejin though...
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
I think the moon is in the other direction!
HODL HODL HODL !!!
I'm on the same page here, been preparing to buy in now, and lower. Set your buy levels guys and try to enjoy the ride. And for those of you that are stuck in other coins, I recently posted valuable updates on coins like:
BTC, ADA, BTS, EMC2, ETC, GNT, SBD, STEEM, XVG
https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-ada-bts-emc2-etc-gnt-sbd-steem-xvg
Just a dip huh?
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
Man I don't know if you don't have nothing to do but you better get a life and stop disrespecting Mr.Lee. Go somewhere else
Unfortunately the downside of Steemit... Hope it will be fixed soon
great pic) this is my answer to you enjoy)))
Great work. Had to laugh a lot...
Lol Hilarious , I am saving this on my blog . run out of fiat , maxing credit Lmao !
Hacksaw Ridge this time right...
hahahahahah lmfao
Maybe we will keep hodlin until zero if this keeps going 😂
Get a life dude, You are a prime example of internet troll. piss off
Have anyone reported this Ashle already ?
Can you please stop??!!
You are acting ridiculous and it is annoying people here who are interested in Haejin's analyses.
Best regards from the Netherlands
I don't get it.. is this the racist comments? Are you for or against the blog? Are you saying he is unworthy of haejins response or that haejin is too lazy to repond?? so confusing...
It's incredibly selfish to be down voting these posts at a time when the market is falling and people need Haejin's posts for reassurance.
That's what this platform is. A selfish money printing factory for abusers. (and CEOs)
HODL!!! AND BTFD!!!
Time to flush you down the closet, please don't trouble community who are seriously looking for some updates!
Getting ready to buy around 8-9k :)
Hey Kim I see you bought thousands of Steem. What exactly is your strategy?
in case anyone is sick of the spam by @kimjongpoo, dont forget you can simply mute a person.
upvoted for visibility
thats what I'm talking about, right😊 but thanks for the guide 😉
well yes, but if muting is to difficult then the problem might be found in the user..;-)
also no need to go to the page to mute, simply click on the name right in the comment section and a popup appears where you can select mute #LIFEHACK
seriously?
Could you verify it was you that reached out to me on steemit.chat?
Confirmed.
It is great news if the BTC price gets below $10000 AUD
cue kimjongpoo
Thanks to this man, people earned. He taught us a lot. Look at how many people support him. He has 17,000 subscribers. I registered for myself, only because of him. Because on the Internet you rarely meet, a specialist who understands the wave analysis, and still gives his knowledge to other people. We learned a lot from him. haejin do not pay any attention to these people are just jealous of you, they do not know how to make money. Hanging - this is the vice of people who have not achieved anything in their life, even write an elementary blog, so people were interested. Do not leave your people write, we are waiting for your articles every day. We are with you and believe in you!
Благодаря этому человеку люди заработали. Он многому научил нас.Посмотрите сколько людей его поддерживают. У него 17000 подписчиков. Я сама зарегистрировалась в стеемит, только из-за него. Потому что в интернете редко встретишь, специалиста который разбирается в волновом анализе, да и еще дает свои знания другим людям. Мы многому у него научились. haejin не обращайте ни на кого внимания эти люди просто завидуют Вам, они не умеют зарабатывать деньги. Завесь - это порок людей которые не достигли в своей жизни не чего, даже написать элементарный блог, чтоб людям было интересно Не оставляйте своих людей пишите, мы каждый день ждем ваших статей. Мы с Вами и верим в Вас!
Better do the opposite of what he says...
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction.
Please check my tradingview and steemit blog.
Just Hold and enjoy the long term ride, we have faced this situation a ton of times and if you are new here please take suggestions from someone experienced and JUST HOLD
This means alot i will keep buy more around 8000 price range, waiting for it go even lower ;)
Good morning
@haejin Haha glad to see you revise your target told you it'll go below 7500$ ^^ https://steemit.com/bitcoin/@tatchcapital/tatch-trading-analysis-btc-so-btc-dipped-as-expected-and-it-ain-t-over-yet
Anyway good post, keep it up ! Also you should do something regarding Gulden (NLG) really good coins with an interesting POW/POS mixed features incoming...
Mister Haejin, I am sensing a drop to 5900-6700; do you believe that possible? What do you think the future of btc holds this year?; do you think it will it recover to 15k in february-march? I read that this is a manipulated dump; i believe banks are getting ready to invest into crypto (why would they pay top dollar,better crash the market) can I have your opinion om the subject? Do you think another coin will replace Btc? And if yes, which coin?
I believe the market is being manipulated; the futures contracts expire in 3 hours; bitconnect, the ponzi scheme, added insult to injury by clossing and gave the authorities the motive to regulate crypto and further bash bitcoin. Please share your thoughts!
One of my charts has a gap around the $6500 USD (Red Cross) level from back in November. Charts love to close gaps and this might be no exception. Same chart also has another gap at around $14350 usd (Green Cross) so if the rule holds then it should climb back up to close it after closing the lower gap first...or something like that. I tried to find the charting tool that Haejin uses so I could take a closer look but had no luck so I'll just post my chart instead. :) Would like to know if other charts have those gaps on them too.
https://www.mql5.com/en/charts/8181063/btcusd-d1-first-prudential-markets
Actually, the whales who are manipulating the markets are trying to push the price up. The steep correction is just people taking profit, which causes a dip that makes people panic sell. What goes up has to go down.
https://steemit.com/bitcoin/@philakonecrypto/bitcoin-s-hidden-wall-holds-invisibly-strong-see-millions-of-dollars-of-btc-dumped-with-a-wall-holding
Thanks for the link. Just to clarify, are you saying the price is being propped up until the whale gets his fill and then he'll pull the props and let it go down even more?
The whales were trying to prop up the price, but they were unable too. The selling pressure was just too strong. Once the whales were gone, there was nothing to stop retail investors from panic selling and causing a massive dump.
Gotcha. So bit of a dead cat bounce today followed by some more correction?
Not necessarily. It just meant that if Bitcoin went broke below the whale buy wall 12800, Bitcoin was going to have a bloodbath, which it did.
I'm just doing an analysis of the past.
Gracias por la información
I look at the current situation as a great time for buying and gaining when this current dip ends
I called this correction since Dec 22. Haejin is finally accurate with his Elliott counts above, however the bottom may be in. 50/50 tossup as shown in this chart. More context in article.
https://steemit.com/bitcoin/@bodaggin/i-correctly-predicted-the-btc-crash-so-where-to-next
Haejin could you please analyse the coin market cap graph? Also please pay attention to the same period for years before when it was new lunar year?Thanks!
what?
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
Good, finally realistic predicion!
jeez whats with the crazy trolling posts, awesome blog haejin!
@HAEJIN thanks!!
Please do another update. I want to know what is your opinion as the BTC stands now. Currently is $11,200 :D
SELL YOUR CAR AND BUY
ony if you are stupid.
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
I been tellin people look at bitcoin chart the last 4 years, it has s little more dip left in it before rising again!
Good morning
I was greatly entertained by these Elliot Waves.
Today separates MEN from boys, I'm buying more altcoins
HODL
It doesnt make sense to buy Alts yet. You want to buy on last wave cause people then will be really panicking as they think the 4th waves is wall street stepping in. It will take nerve to wait til the 5th wave but that when prices will be rock bottom, bargain basement. Bitshares could be as low as 10-12cent.
Only a select few have Haejins awareness, most traders dont even believe in Technical Analysis which really blows my mind.
Ladder in on Bitcoin all the way... BIG TIME.
This is only my opinion, not fiancial advice.
Thanks for this update. It was helpful..
Everyone does realise there’s so much confirmation bias dont they? If he keeps calling for coins to go up from points where they’re obviously low and in correction, they will eventually go up because there’s nowhere left for it to drop. I can just repeatedly call for coins to go up and ill be right because eventually they will - days, weeks, months, years down the track they will.
But no one mentions it or calls him out when it goes the opposite way of his calls. They just say “Oh yeah, it’s all just part of the correction - he doesn’t have a crystal ball you know”. But then when it goes up - “he’s a genius!”
Where was his call that we were at the terminal end of a wave 5 with nearly all the altcoins and it was time to bail? He often says that best time to sell is terminal end of wave 5. If he’s such a master of TA why couldnt he see the obvious snowball rolling down the hill towards us? Shouldn’t a master with 20+ years experience be better at seeing this than the average trader?
Either, 1. His TA is really not that great. 2. He’s playing us all for fools. 3. He’s just stabbing in the dark in a bull market.
Finally, someone else that sees through his absolute garbage TA and reward scam.
I don't think you know what a scam is.
Has you seen Haejin paid service scam?
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
cant wait to see it bounces up, in the mean time, stop looking at the value of your portfolio (am just trying to calm myself)...
just hold...
Thanks. Exciting times ahead! 😃
haejin back at it again with the daily garbage TA. "Oh, look overall market is going down, my TA for BTC today will go down too." Wouldn't surprise me if the overall market would rise tomorrow he would make a new TA stating BTC "is showing bullish signs". Stop abusing inexperienced people for upvotes, spreading this garbage TA, full of lies. You just gamble based on market movement. Flag him instead of spreading his virus TA even more with upvotes he doesn't deserve. The rewards you are seeing from his upvotes are from his whale friends, so don't go thinking this is a credible source based on his rewards. He doesn't want anything else than money, either from upvotes or donations. Why else would he post his wallet addresses on every single post. Like he doesn't earn enough already scamming people with "professional TA".
"You just gamble based on market movement."
Not sure if serious...or doesn't know what trading is?
Next level satire, bro/sefina.
What are the chance of you being wrong again ? I dont think, you should try to predict corrections, historically you are always wrong there. and your prediction will confuse a lot of people here, and they will do mistakes.
what the hell are you talking about? haejin is permanently providing various scenarios and by being aware of them you can react accordingly. I made a ton of profits due to him, specially when there have been possible pull back scenarios like last day, all you had to do was to check the triangle support and check if it breaches so you could switch the main count.
It seems to me that you are not using the information correctly that is provided here, otherways I can not understand your frustration.
Yes, he is providing multiple scenarios. Going up or down. What the fuck is this? His primary scenario was not this if I remember well. Forget this bastard, I advice to you.
well this is what TA is about. His primary count lately has been the bullish triangle pattern but he made it very clear that if support breaks then the scenario is the abc correction which we experience now.
from my personal experience it is very dangerous to follow an analyst that remains unflexible about his count, they are so ego driven that they disregard all other possibilities and can do serious harm (as I expereinced on my own).
it is simply unrealistic to accuratly project the next several days and weeks and if so then it is purely luck. once you will realize that you will see the value behind haejins work. all you need to do is keeping track about his updates or even better; go learn from his tutorials and do the daily reviews on your own (since this is what the purpose of this blog is!)
I followed him from august and I can tell you it is worthless. Lots of analyst from the trading view predicted 8K weeks ago. When the correction started Haejin just said all the time this is a healthy correction it can not be as low as 8K and look at now, we almost there.
I've followed @Haejin since August too and have made a ton of profits in spikes AND corrections. His TA analysis is a GUIDELINE. Do your own due diligence. You are the only one clicking the buy order and/or sell order, not him. For over a week Haejin's alternate count has shown a more bearish outcome. So the alternate count became reality instead of his primary count. That's why he puts an alternate count out there for BTC. If all these other TradingView TA's are doing it better, you're free to leave here and follow them.
You could have taken a lots of profit without him too. In a bull market every coin were rising.
I respect your opinion and understand your frustration.
but keep in mind that he announced this possible scenario a while ago, of course it hasnt been his main count but he told you which support levels to look out for. you might blame him for favorizing the wrong count but due to his information I have been prepared for this possible scenario. but maybe this requires to watch his videos (which i do consistently) since it seems in his blogs he doesnt emphasis the probabilities enaugh.
of course I can only talk for myself but to me he helped a lot and this recent btc pullback doesnt stress me out the slightest
@attila73. You know what. The best for you to do is that you keep following everybody and eventually you will learn who is good and who is better, hopefully. I can say that this time the analyst from trading view predicted 8k weeks ago, next time he could be as wrong as anybody else. Guarantee it! Because you are speaking from the mind set of a fairly new trader!
@barsic. When the market goes down so much, people get frustrated and rant. They don't understand cryptos are volatile. Also a 50% correction is not unusual even in stocks too! Some people need to realize that.
you are right and I totally understand the frustration.
What concerns me is that some really dare to blame haejin here, he has been totally transparent and altought I would have enjoyed to see the bullish triangle pattern as the final path we all have been (early enaugh) warned about this possible outcome. Altough it is not really recommended to daytrade I managed to make some profits by selling under the support level.
No, this is not what TA is about.
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
He had a target within the last month on a bitcoin correction and nailed it. Made me some decent money. I sold around $18,000 and @haejin mention a head and shoulders pattern. I bought in where he said the target low would be, which was around $11,500. I then sold that around $15,000. It's a lot easier to just say all of the good news. I appreciate hearing some of the stuff I don't necessarily want to hear, but need to.
It is also necessary to tell the bad news to warn us for drops & corrections so people won't lose that much money. The crypto market isn't always going upwards you need to know that.
if you would listen to haejin you would have undetstood already that he makes predictions based on price only. It might seem a bit unconventional to you but look how it has provem right again:
we knew about this possible scenario already while ago and now experts are scratching their heads since they cant find the news that is responsible for this dip.
haejin provides a free master class in TA but it is up to you to listen and eventually learn
This same crash has happened at the same time the last 3 years. It correlates with the Chinese holiday. I think it's a combination between that, the futures expiring and FUD about what asian governments are doing about regulations.
Well, these people should not follow anyone blindly, be it Haejin, whose analysis is actually quite good. Yep, as of late, he has been wrong for a few times, but still...it's a game of probabilites as Heajin also says. In short - you simply can't blame someone for expressing his opinion and Haejin is doing this - for educative purposes and for some steem dollars, of course (nothing wrong with it if people decide his analysis is worth an upvote)!
he hasnt been wrong on btc. he consistently provided several counts and told you what to watch out for.
Not on bitcoin, but on a few alternative coins such as Verge and BitShares for example. But I don't blame him - I think it is normal to be wrong every once in a while. However, most of the times his analysis has been impeccable and I can only applaud him for it.
his counts are not really wrong there as well, take this two things always into account:
What do you MEAN his counts are not really wrong. Is your definition of wrong different to the oxford dictionary’s? Wrong means incorrect. Going the opposite way. Look at his predictions over the last 4 weeks. All of his wave drawings have been completely invalidated from an objective elliot rule set. His counted wave 1s have been crossed by wave 4s. Look at STEEM, XRP, XVG, QTUM, RDD. His targets have been wrong too. Let’s just admit his wave count was incorrect. Look at XRP as a prime example. His target was $4.11 as end of wave 5 and he counted that we were in wave 3. It turned out we were actually in wave 5. That’s a HUUGE miscount. Moreover, other analysts on tradingview were calling for this scenario well before him. It’s pure covering your eyes if you’re going to convince yourself it’s not wrong. Sure, it’ll go up and likely hit his targets from here. But that’s because in a bull market it’s more likely to go up than not. However, to say he was not wrong when all his counts have been invalidated is just pure blindfolding yourself to the plain facts of what happened.
I agree with kevitos on this one - Ripple is a good example. Eventually the price will probably go to $4.11 but not seeing the big correction before that is simply a mistake. If I follow your logic I may forecast that gold, for example will reach 10K. And in the very long run I will probably be correct, but if you buy now and it falls to $700 and stays there for a year and then slowly moves upwards to $1000 and finally in 10-15 years time it hits my forecast - would you call my analysis correct? But as I have said, I have a lot of respect for Haejin and am thankful for all of his efforts. He was wrong for a few times, but that's fine, he doesn't have a magic ball. He made some great calls before that and I don't think it was just luck.
I don't see too many 'great' calls
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
Bullshit
Half Bullshit
amazingly, he was almost right...
It just wasnt a correction,
https://steemit.com/haejin/@truthtrader/haejin-6-months-accuracy-rating-day-17-2-day-16-accuracy-12-10
check my post @haejin
https://steemit.com/bitcoin/@mahyardean/dont-panic-sell-hodl-or-buy-even-more
As if he cared...
Just a healthy correction, yes master. You have told to your followers for weeks. Hahahahaha. Alt coins are going to the moon, hahahahahah. Phasic and non phasic. Hahahahaha. Fucking garbage what you give to yours followers.
👍🏻👍🏻👍🏻
Bad times for crypto... Stay strong, it will recover soon! Thanks for the update @haejin
Hold on to your pants boys and girls!
nice analysis ,we can only trade technical analysis ,and wait for the coin to do what its doing
hello @heajin
good info, i like ur post so this post resteemd,vote and following u r now
Every down and bouns has a potential for making new millioners when it ups. So lets buy the coin when near the bottom and when it ups walla...... work against the crowd
Red day for crypto.... stay strong and hold.
Worst thing one can do is panic sale at a loss.
https://steemit.com/dtube/@zainu786/introduction-about-me
Thank you for your reporting on BTC and TRX