SUMMARY
During corrections, a person's true colors comes out. The level of one's emotional maturity shines; or the lack of it. Just look at the comments in my blogs. Since 1997, my journey as a trader has been more about self discovery and growth than profits. Humans have a tendency to want to project their guilt outwards and that way, temporarily make themselves not the responsible ones and so gain a period of relief from guilt. It's quite ego based. But, one can arrive at a state where such doesn't become your first instinct. That's called discipline. The discipline to remain calm under fire is well possessed by those with battlefield military experience. Such iron discipline allows them to excel quickly as traders because they never blame others. This is why I often say that a "Good Trader" is a "Bad Trader" who first forgives himself for his mistakes, learns his lessons and tries again. I see no other pathway to becoming a Good Trader.
Bitshares (BTS) has delivered >2,000% in profits from $.045 to $0.91. I believe soon, it will do FAR MORE than that! BTS is using this correction as a pre-breakout setup. The below chart shows how BTS can choose between teh yellow or white a,b,c,d,e pathway. Once that resolution is made, the pathway will be clearer with unchanged destination...UP! There is a chance that price could go sideways for a while. But no matter, time has no stake in my projections.
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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Oh! I missed this post... What a beautiful cup and handle! Missed that in my analysis :) But talk about other viable points:
BitShares (BTS) - Analysis (403% POTENTIAL PROFIT) https://steemit.com/bitcoin/@benkalashnikov/bitshares-bts-analysis-403-potential-profit
I am doing the same.
Right right. Firesale! Get 'em while they're cheap!!
Bts is the cheapest coin right now even after the recovery , good coin for short term trade as well as long !
Do u buy it ?
Thats good news for BTS . Thank you !
I wonder what's up with STELLAR on monday there is suppose to be good news. It broke out of its triangle will there be a correction first ? Bearish or Bullish ?
BTS is a 5 year hold, for $100 at least.
Stellar Lumens is in the same positive category as BTS, but larger and less hyped here... remember we're in a community that is very BTS-affine because Steem is sort of BTS' little brother.
Stellar is being mentally associated with Ripple as it has similar functions, so what it does (because of buyer psychology) is follow Bitcoin with a lesser tendency of following Ripple...
In general, it tends to shoot as soon as Bitcoin is out of the water.
I'm personally still waiting for this to happen, and it just hasn't happened yet.
As long as there's another serious Bitcoin dip ahead, why would anyone want to even day-trade (though that was actually very easy these last days, but I was too lazy).
Should the dip not come, insecurity would last for another week or more.
Please update NULS.
Let me do a very small question.. in terms of smart coin, what is the strength of BTS compared to others such as Kyber Network ??
p.s. ah I'm also BTS holder and buyer:)
Even .45 cents is a bargain to what BTS will be by the end of the year.
대단히 감사합니다
Bitshares is the future, plan and simple. Either you accept it now or cry later because FOMO.
Truth be told! People are going to be running to bitshares bitassets (bitUSD/bitCNY/etc) when the tether bubble pops. Also, don't forget that there are two new assets coming to bitshares soon. The quint and quintS, pegged to the value of gold and silver, AND fully redeemable in actual physical silver and gold. Woohoo!
Hi there. Could you explain this news further please? I just tried searching online, but your post is the only thing I have found. I am already invested in bitshares, but I am doing my due dilligence at the moment and am always looking for coins that are backed up by meaningful assets, rather than just being naked bits of code. Thanks for posting the news, but if it could be fleshed out (if you have a link then great) that would be ideal
We need accurate knowledge of how things work in other to maintain our emotional stability during market corrections. Ego is a reciprocal function of knowledge, the more the ego the less the knowledge and the more the knowledge the less the ego.
Very well said, couldn't agree more.
Brilliant description of ego kevaton! I absolutely agree. May knowledge soothe the ignorant's fears.
Keep loading up the Bitshares. I'm torn, I want Bitshares to go up, but then again I want it to stay low a little longer so I can get more. #Cryptoproblems
I love BTS , I would be interested in people's views on prices targets by the end of 2018. My own view is this could reach $2 by the end of the year, but appreciate that this could be too conservative.
We are well aware that at one time it was .045...not all of us were able to buy in at that price...some of us got caught up with some more recent TA analysis you did suggesting imminent moon shot...definitely over $1....instead we got a crash...so lesson learned...what's time....what's a few thousand dollars among friends...
Looks like you're projecting/blaming others for your mistakes. Maybe read his posts before shitposting. You're now the prime example of what Haejin was just talking about.
Lol..
you only lose if you sell lil man
of course you need a long intro because you made plenty people loose money on BTS already... you dont shout 3.12$ 2 days before the coin plunge to 0.22$ so far your predictions have been full of shit... and yes you made me in a situation to be margin called... I lost 80% of my BTS THANK YOU.... because TA analysis is inefficient in REAL world of REUTERS so shut UP
crying because you got Margin called? Don't play with money you don't have. If you played with money you had, you wouldn't care about a correction that has effected 90% of the market. The only one to blame is your self. If you weren't on margin you could have simply waited with patience for the market to correct. When BTS crosses the dollar mark I reckon you will learn not to leverage trade. Patience is key. Don't play margins if you can't afford to get REKT!
@daysaway808 - How about those of us who play with money we have? Even though I take full responsibility for my own decisions, truth is I wouldn't have increased my margin position if it weren't for Haejin posting about $3.
When the price plummeted I had to quickly make a bank transfer that miraculously only took one day to come through. It was pure luck that I got money into the dex quick enough to increase my collateral before getting called.
Hey, I pumped in more money close to the lowest price, as long as it goes up again I'll be just fine, but I can understand peoples frustration as it's easy to believe all the praise people are giving Haejin and buy into the hype, literally.
I've learned my lesson, luckily without any losses. Sorry to hear you didn't make it @buckland
TA analysis should just be a tool in your tool chest. Use all the tools you have to accomplish the goals that you set for yourself. Never rely on 1 tool. Also, Margin trading on cyrptos?? Do not margin trade if you are not willing to take the risk.
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It's ultimately your fault, admit it, else you will always loose.
Also, read this: https://steemit.com/bitcoin/@cryptovestor/why-bitcoin-is-perfect-for-most-first-time-investors
How did you lose 80% of your bitshares on a margin? Did you margin on bitshares dex, because if so, I'm pretty sure you only lose 45% of your collateral?
Sorry...don't know what your talking about..i myself and friends made a ton of money on BTS
Not a loss until you cash out. If you believe it's going to be to ATMs at some point just hold.
@trizle called it as a time to sell at same time haejin predicted up. Predicting the weather and trends is not easy. TA versus fundamentals is an ongoing discussion in my mind. TA surely can't be expected to predict announcements by foreign governments, even though Haejin says the news arrives to match the TA. I'm fascinated to watch and learn. At these times fundamentals seem to override TA. Without the news Haejin might have been proved right. No one is God but if someone has a huge following then prophecies can be self fulfilling as people move en mass according to the prediction making it true. Anyway, right or wrong people choose to go with Haejins analysis or not. I upvote everything I find interesting whether I agree or not. Haejin is a master of TA. Of course I read his posts and he's won many of my upvotes and respect. Difference of opinion? That's the fun of steemit surely.
I was in bts last year and caught some of the rise but sold and got into something else, this happened twice. I was angry when I didn't stick with it and it went up, but I remember clearly that the prognosis looked as if this might take well into March (next year, back then) , and I was too impatient for that (why wait for bts to climb when you can use the funds to earn some quicky in between).
So this is what you decide, and when you decide to stick with it, you have to stick with it.
Till it rises again. If you sell along the way when it's in a low phase, you will have a problem.
He has always been saying how he ONLY looks at TA and, that reality will prove TA correct after the fact, but this is of course only possible when you exclude the time factor from the equation. Time can only be guessed at, and this insecurity can be destructive - if you don't have the time.
You have to be very calm and patient to always have the time, and you must take this into account beforehand, and when you have progressed to such a level of collectedness, you will be able to envision the blind bowman drinking tea from an empty cup - applauding yourself with one hand clapping. Because time is always time, and space is always and only space.
The Bitcoin dip ruined the equation, it was unnecessary under the circumstances - the market was strong enough to have carried us through, but too many people expected that dip and a few manipulated to make it come. And Bitcoin dragged the altcoins down. I guess you cannot foresee that just looking at Elliott Waves, because Elliott Waves measure average market movements. The blind bowman didn't hit the target because the target had been taken out by an asteroid.
Temporarily, of course ;)
Its pretty obvious Bitcoin Futures as screwed the market recently ! Price was run up by the bankers prior to 18th Dec, then they got out knowing it would cause panic and price crash. They will buy up as much cheap BTC as they can and sit on a stockpile. JP Morgan did this with Silver !
They are going to run the price up again eventually so just hold now and try not to let greed drive your decisions, but get out next time before they do ! OR ditch BTC and buy Bitshares also move away from any centralised exchange onto DEX. WHY ? Because they are Introducing amazing new assets which will be backed by Gold/Silver etc so when the next crash comes, the DEX will be a safe haven. Banksters will be able to do anything they want with BTC because the ALTs will be pegged to other more stable coins (not BTC) so this pattern of BTC crashing and taking everything with it will eventually be a thing of the past.
I will put down my crystal ball now......
Unfortunately, institutions a) are well organized and b) have more money.
So they can buy their way into any sort of market, also into the decentralized exchanges. The principal superiority of an organization over a herd of chickens will always remain.
If everyone moved to Bitshares DEX it would have a lot higher liquidity, then when banksters hit BTC you could simply move to from bitBTC to quint (or other asset backed crypto) which is harder to manipulate so would prove a nice safe haven !
Bang on
We agree with that !
https://steemit.com/bitshares/@tatchcapital/tatch-trading-analysis-bts-classic-bump-and-run-an-opa-underway 👊😙
We agree with that !
https://steemit.com/bitshares/@tatchcapital/tatch-trading-analysis-bts-classic-bump-and-run-an-opa-underway 👊😙 but first some push lower
Yeah from my own experience I understand that I need to work on being disciplined and not allowed myself to take useless risks.
I second your TA by using fractals:
https://www.tradingview.com/chart/EVrwFueQ/
why dont you post a screenshot, as it would be more convenient for people to see
Looks good to me, not unexpected. I only wish that damn Bitcoin psychosis was already over, praying for that final dip ;)
Which means it may not come...
it will reach to minimum dip of 1k $
@zeeshan. What, a minimum dip to $1000? or are you saying $10k? Howdo you come to that conclusion if you really mean 1k? If that's what you really mean, lots of alcoins will drop to $0. How possible is that?
dont worry it was just a forecast by some blogger, it may or may to come to that... some of them says at the end of year it will reach 34k
when to 1k？
The time for that will come,bitcoin will crash but not soon,you still have some time,in the mean time,invest in good alts and wait and keep reaping money and save your initial investment.
Trading is not easy, need to learn and learn more. What comes out in the comments is exactly a reflection of how much a person know.
Is it right time to invest in ripple??
Well said, I should have stayed in BitUSD because I never suspected BTS could go to $0.23 cents!
buy bitshares
Very excited about BTS, bought some more during this dip!! :)
thank you for recommending bitshare while it was .45cents or something. but here's how i see bts.. it has already found the bottom and will break the bear flag to go sideways for a while when btc corrects.
i think it's an irregular flat, but you taught be that ;)
I have 500 BTS since $0.75
Now I have 1000 more! :)
Thank you for the BTS update. Upvoted and Resteemed!
Good detail!!! U are amazing
I am staying away from bitshares it will be going down soon like Bitconnect. It is a massive scam and fraud along with its Arise Bank. I follow you for advise but must say that on this the juice is not worth the squeez.
Sorry bud...hard to see these stats and come to the conclusion that it's a scam
https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-16th-january-2018
Bitshare or XDR or any other altcoin should i invest on, suggestion needed, dear good trader :D
Thank you!
BitShares BTS is one of the most undervalued Blockchains. A very bright future indeed.
Excellent analysis. Beautiful explanation.
This correction was a sort of wake up call for me. I handled it terribly, but it could have been much worse.
Great post. All traders must take personal responsibility, first and foremost. Well said, Haejin, and thank you for your work. I continue to learn.
Go Bitshares
It is not the market that is reacting irrational. It is you! That is the lesson one has to learn. Beside that I personally believe in BTS like you, but may be on more fundamental reasons - or better expressed - the interaction between market forces and fundamental properties. Please do not hype it too much. I was not able to buy in yet with the amount I've planned.
We've had 4 years. Bitshares has long deserved the hype. :/
I know it. As I am really interested in the long term in BTS it would be much more convenient if it rises in a more constant manner.
...
muchas gracias por compartir tus análisis
kimjongpoo must be sleeping right now 😀😀
You're right, I've noticed a lot of people have lost control of their emotions during this correction and their inexperience and novelty is shining; I think it likely speaks to their personalities outside of investing as well.
EXPLOSION iMMINENT!!!
The biggest surprise for me since I've started trading/investing 10 months ago is how much it's taught me about myself. It's allowed me to mature, to understand what motivated/motivates me to trade, and to realize what makes me truly happy in life.
Do u buy it ?
Bitshares , ole friend is where I left off the start of my EOS calls...... some may recall this year bitshares will do as Eos has done Hands Down, Patience is. A Virtue...... nothing worthwhile dances within times rainbow smile
Great posts as always ole freind
Thank you kindly
Thank you for your insight haejin
haejin, thank you for your analysis. Great work!
thx haejin! I bought BTS about 0.88$. But I’m not scared. I believe BTS to the mooooooon!!
nice one. i have been looking at these a little while now. time for a little more intensive research i thinks. cheers for the heads up bud
Bitshares will be back at 0,91 quickly, just bought 2,5k extra on the 0,2 dip
https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction in December. Click the play button.
Please check and follow my tradingview and steemit blog.
https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction in December. Click the play button.
Please check and follow my tradingview and steemit blog.
The astonishing thing is when you compare BTS to the other cryptos. There are a few good ones out there but not many. BTS sits within an up and running decentralised exchange that works superbly. Bitshares is a banking setup. The smart coins like bitUSD which are solidly backed, resolve the problem of the banks fractional reserve lending and make things like USDT look like a joke. If for some crazy reason you can't see BTS as the future, the platform remains a safe haven for your crypto from surprise regulation, hacks, dodgy exchange owners and it has the many assets lkke bitUSD or BitGOLD to park your investments safely during a crash. I had invested in BTS after I became aware of the genius of Dean Laimer via Steem. I only discovered the BTS DEX when bittrex delitsed BTS and forced me to move them somewhere. I discovered: almost free transactions, the fastest transfers in the cytosphere and easy named accounts instead of long strings. All I can say is If you haven't tried the bitshares exchange, open an account (no email or ID needed) save your password with paranoid care (just like steemit) and give it a go. I'm pretty sure you'll end up confused like me- wondering how this is the most overlooked coin, asset and system within the whole world of crypto. My thoughts? Buy whilst the discount lasts!
Totally agree! Although i hope they begin to add more coins soon - im sure when they do the price will begin to stretch out a bit
Yes the exchange needs more coins. There is a belief that once BTS breaks $1 then coins will increase and price movement will become more independent from BTC