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SUMMARY
Overnight Bitcoin (BTC) price action was uneventful...boring. Meanwhile, I still see plenty of panic stricken headless chickens as well as doom and gloom pumpers calling for sub $4,000 prices to be the next target. I disagree!
The below chart is my original count where I had the wave 2 in progress. However, in reviewing the corrective pattern, the Regular Flat count would be better applied.
I've therefore updated my Elliott Waves to reflect an a,b,c (3,3,5) regular flat as shown in below chart. If this is correct, then wave 5 of c would mean one more lower low to complete the a,b,c correction. As the impulse waves 1,2,3,4,5 show; this update simply means a slightly different pathway but still the same destination....UP!
NOTE: If this blog gets downvoted; @ranchorelaxo has our backs!!
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.**
Either way, I win. I've divested a portion of my position out of crypto and into precious metal (silver).
Crypto goes up, Yahoo, I buy more silver.
Crypto goes down, Yahoo, I've cashed out a portion on top and I come out ahead.
Great read on market
Happy new year @haejin, thank you for everything you have done for us!
BTS...Bitshares might be about to breakout!
Not bad!
The bitcoin is very rippling. Some say it will be $ 30,000 soon. :) I want to believe but can it be?
Happy new year :)
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GOOD MORNING ! That sounds good !
Absolutely :)
Could you please do an update on Omisego?
broke out of the trendline, ATH's dead ahead!
I had some extra time; This is only my point of view. Your decisions are your own. It could be like this;
Trend is up but small correction up ahead. Submicrowaves can be wrong, I only look at it 12 hours chart perspective
You can't say that it was a symmetrical triangle because for it to be a symmetrical triangle, the bars need to touch the upper trendline and the bottom trendline twice. The bottom trendline is only touched once.
It would be better labeled as just a consolidation.
Let’s hope this happens need to see this go back up a decent amount.
How does @ranchorelaxo have our backs? And where can I contact him to have my back?
I think he means Rancho will upvote the post if Bernie and hiss bots play their tricks here so we don't need to expose ourselves. Many of us got hugely downgraded when this thing began.
Now it seems to be under control.
So thanks @ranchorelaxo and @haejin!
For crypto news , technical analysis , I followed you.
Haejin thanks for the update. Wishing you a Happy New Year to you and your family and to every haejin follower. Hope 2018 is prosperous for us all. Good luck my friends hope our dreams comes true and god is kind to us all.
@haejin good analysis. i agree and happy new year
Happy new year @haejin !!!!!
Very much appreciate your analysis and informative tutorial links! Keep up the great work and have a wonderful new year. Best wishes to everyone Steemit'n. Happy 2018!!!
Happy New Year.thank you so much.
Happy new year!
could you help us with some probable waves on this upcoming verge run?
Thanks again Master, hope you're enjoying the snow!
Agreed! Would also love to hear about an XVG/BTC pair wave count. Especially since you were spot on, Haejin!
THANK YOU Mr. Lee for sharing your knowledge and experience! Have a happy and safe New Year! May you help millions in the coming year and may the bounty yielded flow back! Keep up the good work, I see beer tokens in your future!
새해복 많이 받으세요!!♡
Thank you Haejin for the update. Really appreciative as always and grateful you take the time to share your charts, videos and help guide us. BTW I bought the Elliot Wave Principle book you recommended. Looking forward to understanding more for myself.
You are providing great value! I like the way you teach at the same time you show us your analysis. I follow you on Steemit and YouTube .
Happy New Year!
Really hope you are right!
Thanks!
Thanks for giving us the knowledge you posess Haejin. Your primary count here is pretty much what I concluded myself too, but I may be over positive on my upside :)
https://steemit.com/bitcoin/@thedolphin/btc-usd-new-year-rocket
@haejin, Happy new year!
Thanks again Haejin! This will be the rocket on new years eve :)
Thank you for your predictions and that you spend an excellent happy year
Thanks @haejin , happy new year !
Thank you for your analysis! Hope you have a Happy New Year!
How about BCH sir, can you do update for it? Thank you.
check his previous posts, it was done not long ago.
good job dear @haejin
Thanks Haejin. Do you think DGB will follow in XVG's tracks?
Thank you for all the great content you provide!
Here in Brazil everything is stuck, banks closed until tuesday no new deposits for the exchanges. I hope that it goes up, but only after I can deposit xD.
Thanks Haejin. Thanks everybody. Hope all united to move forward.
Guru buffet line... LOL!
Thank you @haejin. Learning how to fish on our own and watch the master do it is the ultimate goal. As soon as I will be able to read the book and understand some of it I will try to get 1:1 with @haejin. Wishing you and your family happy and prosperous 2018!!!
Happy New Year @haejin
Thank you very much!
sorry haejin but we`re going down first.
thanks for the analysis - love haejin just like to see bear side too
Think we will see. Do not think people understand how fast and how much in% we have gone up for a short while
We dropped 45% in about 2-3 days from 19.8k to 10.5... rapid growth met with rapid decline, that is the beauty of BTC's volatility and is why we are all getting rich :). As with Head and shoulders, there is about 3 HS patterns within this big HS, and none of which have the volume to prove this indicator. I see many, many analysts on tradingview with the 8k gloomsday but I don't think that will ever happen. Happy New Year!
volume doesn't approve your count
let's see what's going to happen
As it is a game of probabilities I'm confident that we will not see this pathway. If volume would approve it I would take it as my secondary count. Just a feedback that you might want to consider for future analyses
You can be confident only that you will die.
Ah yes - the whole world looks at a massive H&S, and even after an almost 50% retracement, many decide to go short and then sit there perplexed as their sure thing turns sour. A rising price eventually drives them to cover. Watch the squeeze!
There goes the short term downtrend line, but I'd expect the price the rise faster when the next downtrend line is broken at around $15K.
Yes, That's right
Thank you.
I would say that at the end of 2018, BTC will be worth about 25000-32000$ minimum. It's definetly a bold statement but I can't see it being below that price. After that, it's going to keep growing.
When the markets open on Tuesday...
새해 복 많이 받으세요~^^
Awesome
Update haijin and happy new year 2018 here we come!!
Thank you! I always appreciate your videos, specially when you explain so clearly and give advice. Have a nice and happy new year!
is this kinda stuff scaring anyone else?
haha thanks for sharing this one
Nice! Lol
that's fucking amazing lmao
Glad I’ve found you Haejin. Thanks for putting the work in.
Thank's for sharing @haejin