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SUMMARY
Bitshares (BTS) is correcting and I present two pathways. The first is a classic a,b,c correction which would retrace to the prior wave 4 zone. The below chart shows the wave c as sublabeled into its five waves. As I've always said, the best time to buy is at the end of an a,b,c correction. Thus, subdividing the terminal c wave allows precision casting of buy ladders.
The below shows my alternate on how this correction coudl unfold. Don't forget that cryptos always love triangles. So when in doubt as to which pattern might be likely....think triangle. I've labeled the a,b,c,d,e subwaves.
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.**
Excellent analysis! Thanks for your work.
Thank you, master, very interesting analysis.
Best regards NSC
I am tell you all now
"Buy just 100 BTS and it will be worth a million within two years"
BTS to the MOON!
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AEX.com +
source: https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-20th-december-2017
BTS price should (more less) follow bitCNY marketcap
Feel the Burn Sanders !!
A lot of great news coming out about BitShares. Hopefully the correction is quick and painless so we can get back on track and land on the moon!
If you have a quick minute, watch this podcast. Came out today.
https://steemit.com/bitshares/@bluerocktalk/exclusive-breaking-news-in-bitshares-with-stan-larimer#@letmesee/re-bluerocktalk-exclusive-breaking-news-in-bitshares-with-stan-larimer-20171221t140738004z
bitshares has a lot of good news in the pipeline, which will keep upward pressure on the price. Hodl !
Hey dave...let me know if you have any questions...the only thing im still trying to figure out is creating your own assets and borrowing , but everything else im pretty cool with..i was on their telegram site and they mentioned they were going to integrate trading view charts and many other things so i think 2018 will be a good year...i've watched the volume for months and months and i have to say the liquidity has increased substantially....cheers friend
That would rock the House if they integrate trading view charts!
For borrowing, just go into: Dashboard->Margin Positions->bitUSD then set your collateral level. I've always done 4x. And, of course, understand that you will be margin called if the BTS price falls below the Call Price.
No doubt , hopefully they get on it ASAP!
That's some really great news. Some more volumes and more coins like Binance and I'll be a migrated person (into BTS).
Yeah you bring up a really good topic Vimukthi...they have some really good coins, but as soon as they start supporting more we will see even more people move over
Binance had a good UX, ok volume and a bunch of coins with so much potential that no exchange had bothered to list (WTC, SONM, Bytom, Hcash, Tron(They even had an in-exchange ICO-which was refunded after the China ban.))
More coins with great potential is the most important factor. When there are lots of trading options and low fees, volume will naturally grow.
Very good point...i didn't include this in all of my posts...in fact I've had to transfer BTC out of the DEX just so i could invest in other coins...Binance really knocked it out of the park by the way they did things...really really impressed
Hey Shawn maybe you can help me out. I sold some BTS today and it sits in BitUSD. How do I get that converted to USD? Thank you
Sure yetti...sorry for the late response...ok so you first have to go to the deposit page by clicking on the drop down menu at the top right corner of the page...this takes you to the gateway page where you can deposit and withdraw coins from other exchanges and also set up FIAT...you have to submit your information for KYC verification and enter your bank info...they will send you a confirmation email letting you know that you are approved...then go to the find markets tab and type in open.USD to find the open.USD from open ledger...buy open.USD using your BitUSD balance...then on the same gateway deposit /withdrawal page click on withdrawal and choose how much open.USD you want to withdrawal and the USD will be deposited into your bank account...hope this helps friend
im going to HODL. but i still don't like their interface. They better start upgrading on it so we can all MOON
I fully agree with you.. Hopefully there is a strategy behind it and will they upgrade the UI soon!
The UI is definitely being updated. It's had 2 updates in the past month that were great improvements and many more are on the way!
It works ! I bought steem by sending BTC to the Steem wallet which automaticly is converted to STEEM and then converted Steem to SteemPower ! and now I see the $ increase when I Upvote ! People add STEEM POWER and support Haejin !
At last I can post! Its taken weeks to get a steemit account from the UK.
First off - a BIG thank you to Haejin for your work. It's much appreciated.
Hmm....... all this talk of a crash in alts due to a bitcoin correction.
Has anyone noticed bitcoin has already fallen $4000 which has occurred roughly from the 17th Dec onwards. In that time, BTS initially dipped, then recovered and moved overall from 45c to 56c.
If this is the effect of a bitcoin correction why is it right this time to sell?
Bitcoin going through a massive correction should mean all ALTCOINS will gain. Where else will Bitcoin profit takers put there cash? In Altcoins IMO.
wrong, in tether or other crypto, which value always equates to 1usd
I'm Hodling for either way! Thanks
yup. same
thank you for the update, I released mine at $.60 after buying in at $.38 as per your recommendation so a nice little flip.
high five
Move right at the right time. That's the trick. And thanks to everyone on behalf of sharing this tricky point :)
Do you understand ?
Thank you bro :)
You are making me calm in turbulent times. Thanks a bunch!
thank you for sharing
Amazing content! But he seems to have sold all of his BTS. Is it a cue to sell and get back in? Check it out: https://cryptofresh.com/u/haejin1970
With bitshares you can buy and sell to make gains if you want to put in the effort. He is holding 25,560 right now, which is a pretty good chunk
The man has multiple accounts. He has not sold all his bitshares.
Your analysis are always very impressive. Let's watch as things unfold with the bitshare.
probably adding a bts/btc graph will be more helpful as bts is traded against btc everywhere
I actually mostly tend to trade against it with USD on openledger, as shorting against the with borrowed USD
created by using the BTS is often a good side earner.
Thanks for the warning. Nice to see your posting corrections.
do the graphs in btc, no one trades in usd
I'm excited about market drops now!!
I need physical coin
nice thanks
Wonderful analytic post.your presentation is nice.
Thanks.
A much needed correction. But it just means that it's setting up for new heights down the road. It's going to great!
thanks haejin
Btc is a very nice way to earn money i love btc
You mean BTS? :)
Thank you!
Thanks for the update. I have a question for Team Haejin...
If one were unable to sell profits due to limits $10k US, how would one go about weathering the storm on this, BTC and other coins.
Is there a US cap on GDAX? Ive already applied for higher limit sells on Coinbase and start (waiting) for my GDAX account.
I'm in alts for this downturn, that's one way to preserve wealth. USDT (Tether) is another way, although I've heard odd rumors about it being a scam, see "Bitfinex'ed" on Twitter, not that I believe what he's pushing...
Sell BTS for BitUSD on the Bitshares platform, it's the better transparent alternative to Tether!
So would it still be wise to sell and buy in again later?
Master Lee, Can you please show us the sub waves of 5?
Need some analys new altcoin for invest plz
just watch youtube. plenty out there. Cardano, EOS, NEO, QTUM, LISK, Ripple, LITE....
Any good BTS wallets to store my BTS in? Preferably with mobile support. Thank you :)
www.bitshares.org/download :)
uff... i bought yesterday additional 900 BTS
So the advice is to sell and buy in again?
Bitshares , Hodl, Hodl, Hodl......
looks like its following the first pathway... anybody else notice how the BST price on bitshares is a few cents more than tradingview? is there a need to adjust our ladder buy targets to compensate?
Thank you for the level of detail. I really enjoy learning from your content.
Nice post bro @ha
While the first path would see a lower price later, I see perhaps the second is likely taking shape and will rise out of the wedge?
You have me very intrigued about BTS and EW. Is it bad to be myopic on a single coin while learning EW charting? As it is happening?
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 329.04 SBD, based on the pending payout at the time the data was extracted.
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I decided to HODL
but am curious what is the best way to cash out short and buy back in at a lower price ? If you cash out to BTC when BTC is dropping you may loose some of your profits - is it best to cash out to bitUSD or something else ?
These are detailed in my buy/sell setup tutorial
ok thanks Haejin ! enjoy the christmas crypto sales !
BTFD time soon!
Thank you Haejin I sold all my long term holdings of BTS. I just bought them back on this dip Im just happy to accumulate more BTS. If the BT2 trade goes according to plan I will add all profits to steem to help with the upvote all in good time. You just finshed your wave one and now your having wave two correction. the news that came was the down voters. but fear not because we all know what comes after wave 2.