SUMMARY
Elliott Waves states that an event or news shall arrive to justify the forecast, and never the reverse. This means that Technical Analysis begets the fundamentals, and never the reverse. I see many use fundamentals to try and justify their technical analysis and that's a bit upside down. This is one reason why I pay little to no attention to fundamental analysis.
What has kept me bound to the BCH bullish call is that five waves have been put in and these are sub waves of blue wave 1. BCH has not escaped the "Hurry Up and Wait" syndrome since the correction has now been 2x the time it took for the impulse waves. Once blue wave 2 is complete, which wave is next? That's right, blue wave 3. And this blue wave 3 can't be shorter than blue wave 1. That is how I pin the $1,250 as the target.
The apex, point at which the two white lines of the triangle intersect has been updated and it is scheduled at around the 30th. That's five days. Let's see what transpires. Again, news or an event shall arrive to justify the forecast and never the reverse.
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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.**
Sweet, BCH to the moon. I wish you all massive profits!
To the moooon !
Really good one @haejin I was loosing my patience with BCash... I thought you forgot about your call! ;) Thanks for your TA. I hope it gets there!
Heh, I made a calculated decision to exit my BCH position at a loss today, so I could catch wave 3 of ADX which should start up in the next 24-48hrs.
I'm hoping to sell off that portion of my ADX position back into BCH in time before BCH takes off for its next impulse up. Here's hoping I time this correctly. ;)
Brave!
I have adx. @ what price will you sell it?
Brave, but mis-timed as usual LOL. I ended up hopping back into BCH and will just stay strapped in now. As for an ADX sell target I have my eye on 34k and 40k sats as major resistance lines. I don't necessarily plan on selling there, but if ADX can breach both of those with gusto I full expect a new ATH and consider selling above 50k sats... maybe.
I'm very bullish on ADX over the long term.
Diversify! Own a little of both, profit on either should be an acceptable outcome.
Definitely, I was just trying to maximize my returns by trying to time two upswings, but that almost never works out I suppose. The last few weeks have been such a drag, and I kind of jumped the gun.
I'm just going to close the charts for a week and re-visit everything later, heh.
OK thanks
I want to drink the same Beer as @haejin! This could be massive, thank you very much for this post :)
thx so much @haejin .
I've take position on metal (mtl) at 7$ (10/23/2017). Now he is at 9, do you think it's will continue to be bullish ?
when profitable, first objective becomes protecting profits. Second objective becomes growing the profit. Please consider purchasing the Elliot Wave book I recommended. Learning this would enable you to become self sufficient on TA. I'll do the anlaysis tomorrow as it is very late here in Germany.
Greetings also from Germany!!!
Great! I am here until Frida morning.
thx for your answer.
unfortunately my english is not good enough to understand a technical analysis book (i'm a little french :p). I start learning in cryptocurrency trading when I read your analysis.
Have a good night :)
Found it! ;) http://www.elliottwave.com/Book/Elliott-Wave-Principle
Thank you !
I wonder if Huobi re-opening will be the reason to justify the waves
Seems like you are moving the upper slanted line again and again after every false breakeout. I am not saying the breakout will never happen, but who knows when.
@haejin it's been a long time since you haven't done zcash. Could you please?
@haejin it's been a long time since you haven't done zcash. Could you please?
Hi Devrim, here is the update. Please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/zec-analysis-mid-term-target-usd492-112-profit-potetial
Bitmain only accept Bitcoin Cash for miners purchase. They accumulated a lot of BCH from the last batch of L3+ and S9 sales. They always dump ( sale ) miners before a pump. Classic. I purchased extra BCH after placing my order at Bitmain. Holding until wave 5 !
Thank you for sharing gems like this Haejin. If only I had had the courage to act on this analysis on the 26th of october when I told my friends not to sell their BCH just yet.. Didn't buy a single BCH myself :/
Such is my ability. I can make others wealthy, but it is harder with myself.
Still, my failure to sieze the opportunity does not diminish your ability and what you did for anyone who had the luck to read this post.
If I had acted on it, my life would be.. very different. :)
So keep doing what you do, TA Master. You are affecting so many peoples lives in a positive way. I just hope OMG also comes through and runs up those jaws of wealth!
One day if crypto makes me escape the rat race, I will remember Haejin.