SUMMARY
Note: Much more detail in the video than this summary.
Overnight price action has likely progressed further into the abc blue wave 2 correction. However, the waves thus far look a bit overlapping. IF blue wave 3 is next, we need to start seeing some serious impulse motive action upwards. Wave C might still be incomplete as shown in the below chart.
Here is the Ascending Right triangle pattern and the video contains lots more detail on this potential playout. The blue arrow could provide a pathway of breakout at around end of March while the white arrow shows a potential closer towards the end of April. The $11,800 zone is a resistance of significance as price had been repelled here three times. The volume is also expected to decline further as this pattern matures and this would provide one of the needed confirmations.
The bigger picture Alternate is also shown here. The video contains alot more details on this chart. The ABC has to bee kept at top of mind awareness. Only the unware are surprised and are always broadsided by "unexpected" events.
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
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Great video @haejin ...Long term perspective "forest" views make me stay chilllllllll
@Haejin You do not provide any entertainment. I brought you some.
Thanks for these usual useful tips
Ok, what you are saying is: anything can happen and you have no clue what´s next? Great...
Did you just watch the video..?
Believe me you will find many people which give you a precise prediction of how price will look in 24h, if thats what you want to base your trades on then enjoy burning your money.
It simply isnt that easy, you have to be aware of multiple scenarios and let time filter them so that your probability rises to be on the right track. Thats the reason why trading actually needs skill and most of people lose money in trading. With such comments you make yourself looking really stupid..
Actually philfromhongkong is correct. It's the nature of Elliott Wave. It's supposed to be predictive but there are always alternate counts and the correct count is never revealed until it's too late. I stopped using EW over 20 years ago because it proved worthless in making profitable trades over the longer term.
P.S. I am not one of the 97% who lose money in the FOREX market.
Probably that is why he uses it together with patterns.
I found EW a great tool when you are within the actionary waves, especially when you try to aim for profit taking.
I agree that corrections are really difficult to predict and as you stated they reveal their nature mostly when it is to late. Do you have better tools to use in that case that have proven to be working well over the years?
It's because EW alone is useless. Like pattern recognition alone or using RSI alone. EW + patterns + indicators (oscillators or MA based) are really powerfull. You lose value not using EW as a tool to increase/decrease the probability of a call, not even talking about targets (combined with other tools). Just my opinion ;-)
Adding some candlestick analysis helps too ;-)
I can work with a primary count and of course one or two alternates. But when I have 4 or more counts I just don´t trade the scenario...
Exactly! It could go up or it could go down lol!
nice to have your video update, I enjoy them a lot!
regarding the decisive point at 14k that you have mentioned, how much cash would you suggest (in % of total portfolio) to raise?
Bitcoin will go up or down. That, I am sure of.
I'm positive that Bitcoin will go up and down, up and down, up and down... 👯
@Haejin You do not provide any entertainment. I brought you some.
Can you do ADA pleeeease?
According to my analysis the price will be price with 2 possible paths
Bullish 10000, 12500, 14.000 dollars
Lower low 6000 dollars again
Thanks Master!
@heajin......thanks for keeping us up to date by providing us these helpful tips....Love it...
how many dollars can the end of the year be bitcoin ? @cleverbot @banjo
I am not sure. What is the best way to invest money in this current economic climate?
Good your post
Very good post, thanks for sharing.
Totally agree, Bitcoin needs to take out the $12000 level in order to resume an uptrend.
But we need to take out the sellers at $10000 first.
Going as up as 15k$ will not confirm an uptrend imho, it could dip from there as low as 2k$. But if it goes over 12k$ it's true that it will more than probably rise more. The critical resistance is 17k$, then 20k$ of course :-)
Thanks for sharing your charts anyway :-)
Yes, but if prices doesn't go below $6000 and if price takes out $12000 first, you have 2 higher lows, the first at $6000 and second at $8400, which would mean a new trend has formed. Thoughts??
Thanks for the tips
Very nice strategy. You just gained a follower, Kindly check my page as well. Thanks in advance :)
Good information ......👍
Follow me pleas
You are our dependable good shepard of an appreciative flock of followers during these troubling cryptosphere times. Thanks.
Repost and share everybody.
Very nice strategy You just gained a follower Kindly, check my page as well Thanks, in advance,,,
Good Analysis. keep working
After hitting a double-top pattern at 11800 dollars, the bitcoin price is again going down for the past 6 days. Those who bought at 20000 have got a big hit....
Much obliged @haejin
From gambling's stand point of view, if you gave us potential of the next wave and the probability of it happening, we could calculate "pot odds" and equity as poker players call it.
But that would be too easy for us woudn't it :)
You can do it. It's called risk vs reward ratio. Depend of your stop loss and take profit levels. It's more for day/swing trading because haejin is focused on hedge trading, he buy and hold, sometimes take profit, sometimes buy more, but if it does not goes his way, he just hodl :-)
See @philakonecrypto (account closed) or philakone on youtube, he has made really good tutorials for day trading.
good ideal
Thanks for this great and consistent information from you. You are a great lecturer.
your analysis is really amazing
keen insight
We can go up or down,so nothinh is for shure.Nobody can predict.So TA is useless.
So... BTC might go up .... or down...
Gr8 info! Thx
Dear @haejin
You have been flagged via the flag-a-bitch app. The reason is you have been found to be Raping the reward pool with a rate of around 2.133% of the reward fund. To add onto this, your TA's are so horrible that a simple check with a mock portfolio will provide a negative value.
The flag-a-bitch app is being used on you because of your consistent blattant abuse of steemit through means of: abusive self-upvoting, collusive coting groups, and disagreement on rewards. Since we deem that you have been damaging the steem economy, we flag you.
If you would like to help us out with our quest to fight abuse you can check out our post here.
Thank you!
It is so much useful....thanks a lot......
what do you think about DOGE ? thanks
https://steemit.com/dogecoin/@aro.steem/dogecoin-to-the-moon
The bull market is over. Ain't gonna happen.
Congratulations @haejin, this post is the fifth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 53 and the total pending payments to posts in these categories was $2720.37. To see the full list of highest paid posts across all accounts categories, click here.
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Hello Mr. Haejin,
I would like to know if you want to have a civilized discussion about why you and @starjuno flagged my latest posts.
Is it because i am tracking the performance of your advice?
I would like to say that i started to do it because i don't see you providing the results of your advices anywhere else, and i got curious of how good Technical Analyst you are, and started tracking your performance myself.
So far, on 4 days fell 19,16% of the invested value, while the same amount on BTC only fell 14,88%.
Doesn't look good so far. But it seems that you know that already, since you only downvoted the posts and didn't provided any insightful comment.
Don't worry. I will keep tracking your portfolio in real time, and also do some backtracking on past months as soon as i have some extra time.
Aren't you curious of how is your performance?
Have a good day.
Flaggedto counter abusive rewards.Many thanks. have a nice day
I see a lot of steemian's action about #bitcoin #blockchain #crypto and so on, but I asked some steemian's to join and can use the tag above no one can answer. Would you give me a little explanation? I am very interested and still lay about it.
Your article @haejin makes me more curious and want to continue to follow your article.
regards @ steemit-bna
Thanks Haejin !!!
Great technical analysis, looking forward to more! @haejin
Thank you! Video was very informative!