SUMMARY
We live in a world of impermanence and so the only constant is change. Overnight, price decided to finally give its direction and that puts the corrective mode more solidly in the a,b,c pathway. For those who have been following my blog since the beginning, we've seen these types of corrections before during the June and early Fall of 2017. As they had, this correction too shall pass, IMHO.
The below chart shows the updated Elliott Wave count for the a,b,c pathway. The subwaves of wave C can now be counted and projected. The first prospective landing zone could be at around $8,364. It is at this level during which I plan on casting my buy ladder. Yes, I see it as a buying oppotunity. For me, this is NOT the time to be selling, but plan on BUYING at projected correction bottoms. Most everyone will be panic selling but I will wade in with my piles of cash and fearlessly cast my buy ladders.
As the directional resolution is now clearer for Bitcoin, subwaves will be actively counted as new price data comes in. Subwave counting allows a good estimate of a "geo positioning" with regards to Elliott Waves. The below chart shows the subwaves of blue wave 3 of red C. Blue wave 3 could target $9,400 or so.
Here is the MACD with a fresh all time low reading of -369 and with additional Herculean effort, sellers could bring it lower. The bottom line is that as this rubber band streteches, sustainability becomes less likely.
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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Youtube video not working for me...
Loading fine for me.
I check the Bitcoin price now which was around 11200USD. So the price of bitcoin is decreasing too fast. It just amaze me. I want to invest in Ripple. Please tell me which coin can be profitable.
Looking into $Monk, I'm staking it on https://stakeunited.com/Jordentan
About 1% of Reward a day!
Best buy in opportunity of 2018 guys! help upvote resteem :)
it is always the same, it needs some time for youtube the list a newly upladed video, just hang on for a few minutes...
thanks for that analysis. Most appreciated. Upvoted as usual. Please return the favor. Thanks.
This chart has been posted here, on the haejin's blog, 8 days ago
With the following comment:
....A reversion to the mean down to 8,500-9,000 would be the bare minimum. A weekly close below $13282 implies continuation all the way down to the lower $4K. And that is what I put as the BTC target for 2018.
https://www.mql5.com/en/charts/8134910/btcusd-w1-simplefx-ltd
same
you should read this article bitcoin ripple
https://steemit.com/bitcoin/@maykocan/why-is-bitcoin-are-being-asked-to-create-the-wrong-perception
YouTube doesn't work for me either. Also getting the error "This video is not available". Previous YouTube videos worked fine.
Good now :)
Will it fall over, or will rise like a bird? Bitcoin please go up, you making me have a pre-heart attack. My heart can't take it no more.. One last buy...@haejin we need to trust it that it will rise-- again! Hope that the worse case scenario won't happen.
While everyone panics, we should do the opposite and be contrarian. It always is a winning strategy to buy when other won't and to sell when others are buying. Today while everyone is crying, I'm smiling and trying to move dollars as fast as I can so I can buy, buy, buy. Buy BTC cheap and then buy the alt coins on crash sale. Trust me, we will look back at today as one of the biggest missed opportunity to buy, if you didn't. Put on a smile and see this as a gift:)
well said. just hang in people
pPlease I need a follow
https://steemit.com/@gloryjacobz
https://steemit.com/bitcoin/@rohitpatil165/a-complete-beginner-s-guide-to-bitcoin-in-2018
Bitcoin next leg
https://steemit.com/bitcoin/@salahuddin2004/bitcoin-will-retest-20-k-before-30-march-2018
HEY @Haejin just wants your UPVOTES.
He don't care if you make any money on Crypto.
For any traders out there that are interested in a pump and dump, we are doing a pump and dump tomorrow morning. This is the link for anyone interested: https://discord.gg/4uJECJU
Don't fall for this pump and dump shit guys, only the leaders make profit because they buy the crypto well before they announce they are gonna pump it, meanwhile when you manage to see the notification of the pump and then get a buy order filled the price has already flew through the roof.
Sad that people do this to other people honestly.
Agreed... I actually wish I had some more capital set aside for buying into this dip. I think it is possible that BTC will bottom out at $7-8K.
You really need to be disciplined and have an overall strategy with currencies, and it is much more healthy NOT to get caught up in the dips.
Yeah man, I keep hearing $8k from so many people, I think it is destined for that price now, almost like a self fulfilling prophecy!
Indeed! ....it's below 11k as we speak. I'll tell you, the cryptocurrency world is a real trip! LOL
https://steemit.com/bitcoin/@rohitpatil165/a-complete-beginner-s-guide-to-bitcoin-in-2018
Hi, Upvoted as always. The video is not loading. Can you include links to the video platforms itsself so we can watch it there? Thanks a lot!
I will keep trying to get to the video.
it is always the same, it needs some time for youtube the list a newly upladed video, just hang on for a few minutes...
Agree with your idea. If "C" is an impulse, the 3rd wave there should be longer, then the 1-st, so probably we will get a bit deeper. Here is my analysis:
Thanks Haejin witness voting power has been transferred. Keep up the great work. Subscribe to a Haejin on twitter guys so the haters downvoting doesn’t hide his posts from you like the last BTC update
Good post! I just posted my take on the Crypto Blood Bath, might be valuable to you guys!
https://steemit.com/bitcoin/@benkalashnikov/btc-update-analysis
This is what I'm seeing as most likely scenario also.
Why does dan downvote haejin, I just noticed that!!!
They see him rollin’..they hatin’. There’s also a lot of people who simply blame the messenger when their coin doesn’t get a lambo after a few weeks
I paid off the Toyota and Hyundai...goos nuff for me.
That’s awesome @tumtum01 😀 seriously some car repairs and a reasonably priced vacation has been much more satisfying than only dreaming of lambos, staring at a 2-dimensional screen all day and never making a move. I just buy more on days like this. Haejin reminds us to “protect your profits” which sometimes means take care of your freakin’ shit in real life and sell some when it’s high
Even i bought the dip , if we get one more dip . I got some cash ready ! Ppl are cashing out for taxation . This dip wont last more !
No comment...
Let me get this straight..."Provide good content that many viewers would like-be respectful and help others-share your knowledge and ideas to the community that provide value-Earn your followers trust".....I see every one of those boxes checked..wow, if that's the case, I've totally changed my outlook on this place...i think haejin will be looking elswhere for a medium to share his knowledge...this is so bad...im really shocked at this
Who is dan?
Dan is a cofounder of Steem and I don't think that he downvoted @haejin from jealousy. I am sure he has a good reason for that.
Jealous. And stupid I guess ... Also really angry but nobody knows why ...
I've been following haejin and philakone (who also do TA) for a while now. People need to know that TA doesn't project time line, and perhaps Haejin need to emphasize that in all his TA. All his altcoin's TA has a high possibility of coming true, but nobody, including himself, will be able to tell us WHEN it will come true.
Besides, he has also been clear of his "alternate" counts on BTC, and we cannot fault him when the market decided to take the secondary path/count instead of his primary. With this, he teaches us that there are many possibility and ranked them in probability of each happening by citing which is primary, secondary, etc. While he does this for BTC, do you expect him to to do the same in-depth analysis for ALL the altcoins which he has covered, giving all the different counts and pathways? If you do, then you are not here to learn from his generous lessons and teachings but merely expects him to give you the fish (and blame him when the fish escape).
Granted, many here just want to be given targets and numbers - but if you follow blindly, don't fault the teacher when their predictions doesn't come true the next few day you bought in. Again, TA does NOT cover timeline, just like he always emphasize in his BTC TA, the targets have high possibility of reaching BUT the paths they take will vary. Everyone know BTC is the main driver for all altcoins, and everyone who has been following actively should then know that BTC has high chances of further correction - so can't you relate these two yourself AND expect that altcoin will also be volatile?? Did Haejin ever put a timeline on his altcoin projections?
I agree, and I also enjoy the posts. I'm a relative newbie; I've invested in cryptocurrency as a whole; I'm not a day trader, although once in awhile I play around just for fun.
I don't think this form of analysis has much practical predicative value over the long term. I've watched five hyped predictions, and none of them have come true yet.
I agree that the posts have a sense of urgency that is not reflected by a good investment or trading strategy. The first post and analysis I saw, I blindly leapt on board. Now I've been watching, and I have observed that a more common sense approach to day trading would have yielded much better profits.
Timing IS the key.
I do find it all interesting.
https://steemit.com/bitcoin/@rohitpatil165/a-complete-beginner-s-guide-to-bitcoin-in-2018
I agree, any analysis on altcoins while bitcoin is dropping is bullshit. Yet he posts this crap every day and people believe him unconditionally. I guess the only way people learn is through financial loss
To his credit he's mentioned an 8k Bitcoin bottom possibility MANY TIMES and I kept that in mind, but I agree the headlines for newbs suggest "EXPLOSION" within seconds, etc.
Waah!.......Waah!
Same as yours just a lot more to the point.
People that aren't ready to adjust their TA, or the BLIND FOLLOWING OF SOMEONE ELSE'S TA FOR THAT MATTER, at an instance, should just get the fuck back to their dayjob as this is no playground for them.
LOTS OF SHEEP HERE
consider reading the post thoroughly and you will see that he recommends laddering in. he never gives a BUY target because he wants you to ladder in over time...please do not be negative without looking for the positive.
Actually the btc pairs will profit from the dip. In the end you will be able to sell them for more btc and have some nice btc stash after the dip.
This is where he has made most of his money from my conversations with him...it's the hardest thing to do when there is blood, but if you ladder correctly on the way down taking little bites (as he would say) eventually your bags will be filled and ready for the next push whenever that might be...i also have a few very successful investor friends that have done it the same way..it goes against all logic, but this is the way the wealthy do it
A good TA should more importantly be able to identify tops and when to get out of a market. Not just continually predict higher highs in a bull market
He doesnt need to sell, he has someone upvoting him for hundreds of dollars. Even if he is dead wrong
I haven't been paying as much attention because I am in stand pat mode, but I haven't noticed any "immenent" or "explosion" talk of late.
Projections in last 3 weeks of coins hitting all time highs have all gone the opposite way and invalidated his elliott counts. Look at XVG, STEEM, QTUM.
give it time and some patience and you will see....
who are the knuckle heads down voting? lol proving that the majority of the market is filled with dumb money
This is best opportunity to buy if you love crytpcurrencies guys!!! Buy Buy!! Follow me @meetkarthik
more buying opportunities incoming! Woo!!!
You need to start writing books on crypto, your analysis are have always been helpful to me when trading and dealing
✌
He’s providing an informed suggestion (in a quantum universe) of a possible good time to buy as it bottoms out. He could keep the information to himself and probably doesn’t need the Steem money at this point. For example, he warns people above to not panic sell. There’s nothing even remotely suggesting he’s led people to a slaughter. Again people are blaming the messenger
I also hope to buy more at below $10k. Bring on the price dive!
buy orders are ready! I love this scenario way better since it is a opportunity to max out on the profits!
You can buy some now, if right triangle 10k$ never reached, but just a few, in case it really dips to 8k$ ;-)
When this whole correction is at the bottom I hope to have more BTC and Alts than I have ever held. Of course the USD value will be far less than before coinbase triggered the fall, but I think this time next year will be a diff story.
The video is unavailable sir, that might be deleted or its not published yet?.. hhmmm
The Market has been showing so many solid bearish signals for the last week. Yet Haejin failed to see them and even preached calm to everyone while promoting alts that will supposedly go to the moon! How many people purchased those alts now god knows! Now as the BTC price continues to decline all those alt will hit rock bottom! So far for doing no harm! Sorry but that is the objective interpretation of events.
Anyone who bought alts recently! If you believe in Haejins interpretation that the BTC will "correct". then you have to just liquidate if you are not in major loss. if in a loss and not comfortable with playing around. Just hodl because the price will sure fall. Especially if you are in minor shit coins.
Agreed. He is doing harm. I blindly followed his predictions and i am at a 50% loss of my hard earned money and it keeps on going down. At this point I feel terrible and not know what to do.
I wouldn't say nothing against him if I didn't now found people on steemit that few days ago when he was promoting EXPLOSIVE profits on shitcoins, they were giving a much more sound advice of taking the money out and waiting to see what will happen, because the market looks really bearish.
And he with his 20 years of experience didn't think to give this much more safer advice. Shame on him.
Don`t despair if you are not in need of that money immediately. Market is sure to recover! We just do not know when at the moment. Last time it took almost 2 months but it did recover and ended up stronger then ever. As I mentioned, just hold on to your coins at the moment. Panic selling will only seal the deal and loss.
very interested to see how some of the Alts (especially the ones that are already very low in price) will bottom. Very interesting times indeed!
Can someone please clarify who these “bullies” are and why they are flagging so many comments?
Thank you @mitrado! Have an upvote from me ⬆️, and a flag from a bully. 🚩
BTC Futures are already trading @ 14000 markets at 11000 currently, coupling that with expiry of the futures contracts tomorrow .... BULL RUN in 24 hrs !!!!
From where did you get that btc futures trading price ?
https://steemit.com/bitcoin/@maykocan/why-is-bitcoin-are-being-asked-to-create-the-wrong-perception
I can appreciate you being bullish at 8000, but I have to admit i will be looking for an altcoin to give more returns at the next reversal. just saying.
🐧
Haejin's analysis is not really superb one. One can do as much as he does if they read several books on TA. There are a lot of people keep saying $8000~9000 is incoming including myself when Haejin was sticking to his primary count or whatever. Reading his blog should be just checking out what the other people think, not to make an investment decision. However, I think a lot of people here is using his blog like a jackpot machine. Remember that Haejin will not give you any money if you lose money based on his analysis. Yet he earns money from your donation and upvote even when he is wrong. Also remember the market was very bullish lately so even a monkey can call bullish. Really good analysts are born in bearish market. Let's see if Haejin can survive.
I remember that alt suggestion for bearish flag came very late.
Could you look at Rdd coin?
https://m.youtube.com/watch?v=k9zbFmU4qgA
Hakuna Matata, No worries, this will pass
I'm having a hard time these days, but I know.
This too will pass away.
yeah...
yeah look at the graphs of past months and you will see these type of corrections,crypto is going to be super big 2018,now bitcoin may burst but it will be definately reaching its peak again and maybe going to 50k$,who knows,just HOL'D.
I agree its a buying opportunity, done this before and made good profit :)
Muchas gracias por la información
Video doesn't work for me, is it the same for everyone?
the video needs a bit time to be displayed on youtube altough it is already uploaded. just wait for a few minutes.
This is update news about bitcoin.......
i had interested about that and for this i am helped
so thanks for this to share
just carry on
Thanks for the update! I have decided to sell and watch from the side lines. The Fall 2017 crash lasted 2.5 months. Way too long to have money sitting.
It's never a good idea to sell at a loss. Patience is a virtue and bitcoin wouldve recovered significantly. That wasnt a great move
Not true at all! Cut your losses quickly and let your winners run. Hope is not a risk management strategy.
The fact that this isn't the first time the market has done something like this is definitely a reason to hold on. Each time there was a significant correction/dip like this it's always restored itself 5x over. It's not ''hope'' at the end of the day. It's logic and common sense to know that things like this happen occasionally in this type of market.
Thank you. Will be interesting to see how this plays out.
But if you believe its going to go that low (~9000) why not sell and buy back then?
Because it's just a possibility, it can also bounce back from here, and form a right triangle. So IF it dips to 8k$ => buy. I personnaly just bought 1/3 of what I plan to buy, the other 2/3 are for the 9k$ and 7k$ levels if reached ;-)
Thanks for the quick update, everyone's waiting for in this moment, to stand against the fear : )
I hope so.
Thank you Haejin! Looking forward to BTS and VERGE updates as well.
They are on huuuge correction, I have casted ladders for bts at 2500/2000 sat if I remember well, just saying, ... can dip lower than that.
Good luck with that!
Thank you for your updates!
Thanks for posting!!
Thank you, Haejin. You are a solid voice during smooth sailing as well as in the storms. I wish I could upvote you 1000x.
How can we say that all of this will pass when the biggest shareholders in the market are selling off due to whats happening in South Korea. It will take months or years for volume to come back.... The market is screwed.
then seems it's time for you to sell, bye
but educate me here. hows it gonna come back
how long are you following haejin's channel so far?
one of the first things you should have learned so far is that it is price that drives the market, nothing else. based on this you simply apply the EW count that haejin projects for btc day by day.
expect that once we hit the bottom of the c wave there is coming the next set of impulse waves the brings us towards new ATHs. and also instead of blindly following, go ahead and dive into the tutorials provided by haejin and get some books so that you become independet in decision making (thats what haejiins blog is all about, check the links under each of his blogs).
The queen of trolls!
It does seem time for you to sell friend. Don't feel bad. I did too. A ways back to buy back of course... not so sure you will be with me.
Glad I finally decided to wade into Steemit last night! Jk 😙 Let us not even talk about BTS. At least the latest Larimer project is holding up. All 3 are really good so I HODL. Just hope Im not wrong! TBH if Steemit BTS and EOS don't succeed...wtf will?
해진 선생님 진심으로 감사 드립니다. 매일 아내와 함께 , 올려주시는 글을 읽고 영상을 보면서 많은 배움과 힘을 얻고 있습니다. 아직은 저의 판단 능력과 과감성이 부족하여 많은 손실을 보고 있지만 선생님께서 매일 나누어주시는 통찰력을 좇으며 결실을 일구어 내겠습니다. 늘 지지하고 응원합니다. 고맙습니다.
@haejin BTS fell below the prior ATH. Can you do a revised analysis on BTS? Thank you!
Vid not working
So, what do you think?
Sell all of your alts into Tether, then wait for the bottom and buy back cheap? Post your strategy. I would be interested.
I'm seeing a big bullish flag formation with a possible bounce up at $10,500.
Sure looks like a BTC bull flag to me...
https://www.tradingview.com/x/Ajk2dg8i/
people are people ...
Stop blame other people ! He said ,she said...
Go sell, if is this so hard for you.
Thanks haejin
your posts makes me brave against future. thanks
Who is just hodling till it goes up? I won't sell it..
of course buy - sell will make more profit but I won't... who's in?
So the consensus is we are going down to $8Kish.
Well at the risk of looking like a tool i'll go with, we bounce around here. Zooming out and looking at the global market cap from June last year we have had five waves up with no extended fifth, and an A,B,C, correction down to prior wave four.
BTC actually topped a month ago and since then many alts have prospered. Now we have almost universal end of the world bearishness so now everybody must sell! Only to find you've been bucked off the greatest bull market in history.
Guys come on this is not the first time we see this shit, right? Relax, buy with the discount and be happy soon after recovery.
guys no one knows what future brings, maybe all these angry guys should be angry at themselfes? if you sell now - your fault, not of anyone else - you know its a risky market - hold on or trade - still possibilities to get some coins cheaper (eth dropped not hard, if you hold eth like he recommended, you made like 100% profit in last 2 months - i did - sold it and changing for some other coins - cheaper than 2 days ago....)
Thanks haejin, I am ready for this correction, I think it's overdue. Can you take a look at Eth's correction path?