SUMMARY
I believe Bitcoin (BTC) is bouncing and Altcoins are following. The below BitShares (BTS) bounced off the 0.78 Fib level. Thus far, the BTS bounce is very three wavish as labeled by a,b,c. The first target for wave c is the 0.5 Fib level or $0.4799. The white impulse wave for the likely one more lower low is shown making a tag to the lower support zone at around the 0.866 Fib zone near the horizontal white line. Again, much of this depends on Bitcoin's direction.
The alternate scenario would allow the a,b,c rebound to extend further to the 0.38 level. However, this likely means that the pathway is different but same bottom destination. The white impulse waves would be expected to stretch towards the white horizontal line.
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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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If the price drops lower as you suggest it will give me/us the opportunity to load up on BTS before the next surge! Let’s hope you are right.
That is the thinking of a true investor! No greed, no fear, no blame; just awareness and confidence! Well done!
Really waiting for Bitshares to get back on track!
Thanks for this. I posted my prediction on BTS a cpl days ago. Would be awesome if you could give feedback on it:
https://steemit.com/bitcoin/@benkalashnikov/bitshares-bts-analysis-403-potential-profit
can u i get an up vote bro
i got you
me too guys lol
i got you!
I got you, too.
I upvoted up. Get me back.
Got you both👍✅
right back at you!
Got you both 👍✅
Don't buy any crypto until you see this: https://steemit.com/bitcoin/@investingtips/why-i-see-another-crash-for-bitcoin-and-the-general-crypto-market .
Looks like Bitshares does not care about BTC price anymore.
You got it cheers 🥂
Same :)
I just upvoted everyone on this post! Hit me back with an UPVOTE!
Great breakdown.
D day is coming... ;)
Will bfd on bts. Haejin can you do reddcoin sometime.
Utilizing the BTS pairs, I've increased my BTS holdings and will keep making more BTS in the future.
please explain? I suck at trying to obtain more coins lol.... I swear it looks like its about to drop so I sell it and try to get lower.... it doesnt drop 😥. Then when I buy back and hold less it starts to drop lol.
How have you been able to get more?
Simply day trading it? buy the dip and sell the spike?
You should watch @haejin ‘s Elliott Wave tutorials he has posted at the bottom of his videos. They explain a lot and have helped me a lot when it comes to predicting price movement
thank you. I do watch them and I have the books. i am doing pretty well but on the shorter term trading I cant seem to get a good understanding. like day trading using Elliot waves. it seems that its not as accurate.
What do you think?
Don’t day trade, just swing trade, that’s my advice. It’s too hard to time cryptocurrencies from being so viotile
Day trading is impossible!! Extend your timeframe !! Look for C bottoms then HODL for profits!!
@ryan313 and @bitshareboy
But, but, I get so bored!
any hobby suggestions? I wish I could go to some crypto events or something. I work from my computer but all my friends work day jobs lol. So I have nothing to do but day trade when I am bored. aka loose money
Write detailed blog posts about your fears and thoughts, and why you make one or other decision. How it relates to the theory in books and what scenarious can happened and your actions.
I have the same problem even if I am trading while doing my day job. It is a really bad habit. Take some time to plan a solid strategy for the next months and do your day trading in a paper trading account. If your paper trading looks better you can switch back ;)
If you want to day trade, definitely check out https://steemit.com/@philakonecrypto He both swing trades and day trades. He's super transparent and has a lot of tutorials, live trading videos... etc. He uses EW, trendlines with RSI and MACD.
Buy feezcoin lol
Good post creative information friend that serves us all is very important and is what is spoken today! Congratulations friend, you have my little vote
Darn....this is exactly what I was thinking. Was hoping to be wrong. I saw another guy thinking that we could be on a new wave 1. I wouldn't mind a healthy B that would allow for stops to increasing BTS at the end of C.
I think if this pattern holds true even through the futures release, then you are spot on. As more regulated investment options for BTC and crypto as a whole come into play the patterns will consolidate more and continue to mirror each other as for right now the price of btc manipulates all pairs traded against it.
It is definitely bouncing! It has been for the past days now. I can't wait until it bounces back to the highs.
Great analyzes Not a lot of people will like it because they don't want to believe that bitcoin could go down, but sometimes the truth hurts. Tough love man its what the people need!
I like your post
Good
@haejin If you notice this bounce, will you warn us or give us an update if you think this is about to happen? feels like a Second Chance SELL high BUY low opportunity.
Many thanks
https://steemit.com/bitshares/@bitshareboy/bitshares-going-to-bounce-but-correction-is-still-not-over
I made this same TA yesterday, so glad to see Haejin has the same prediction. I’m very happy because wave B allows us to get more money to be able to buy more BTS after wave C finishes. Thanks @haejin for the update! BitShares for life!
Interesting. There seems to be lots of news to come for bitshares and i wonder how this will relate. Thanks for info Haejin!
So you believe that BTC will not fall to 9k or 8k? it will go up and up from now on?
Check out my TA on it:
https://steemit.com/bitcoin/@bitshareboy/bitcoin-is-bouncing-but-correction-isn-t-over-yet
please do a BTC afternoon update @haejin we are starving for it. Also, whats your thoughts on it hanging out so high lately? is it signs of strength and a likely impulse? or is the drop more probable at this point?
I think it could be going up due to the fact that its holding its ground over the last 48 hours... your thoughts?
Check out my TA on it:
https://steemit.com/bitcoin/@bitshareboy/bitcoin-is-bouncing-but-correction-isn-t-over-yet
믿어도 되나요?^^/잘 봤습니다.
thanks for sharing this valuable post. hope that everybody learn many think from here..keep it up
感谢冠军 !
Good post Haejin....Im goin to follow you and you?
You're always on point @haejin
Hey guys I've seen a new USD backed token being talked about by some people that have a lot of followers online, but have no idea about Bit Assets like BitUSD BitEUR and BitCYN..i've been doing my best to leave comments on twitter and youtube but I hope everyone can add theirs too (If you agree that Bitshares is a valuable exchange and a good investment)..the fact that it isn't mentioned shows the lack of marketing on their part...so word of mouth is key here...hope everyone is doing well..can't wait until this bear market is over with..cheers
Hey Shawnster! Whats the name of the coin? I saw your comment and went looking, but couldn't find it.
Hey bluedog...sure ..here are a few links to tweets and their website
https://blog.trusttoken.com/trueusd-a-usd-backed-stablecoin-you-can-trust-9688796cfd0d
https://truecoin.com/
Let me know if you have any other questions...Cheers friend
항상 잘 보고 있습니다~~~!
Muchas gracias por compartir tus análisis
https://d.tube/v/cryptobtcchris/and10rcp
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