SUMMARY
NOTE: Lots for details in the video analysis!
Overnight price action has bounced off the lower triangle line which is serving as support. Price has bounced off this support twice already and overnight was third. If the a,b,c,d,e triangle pattern is playing out as shown below, then waves a,b and now c could be complete. That means price should recover to complete wave d and e. The daily MACD is near the zero level and it hasn't decreased decisively below it for as long as I can see in this chart. So, from preponderance of evidence of historical levels, current MACD could equate to near oversold conditions. Unless we have a crash scenario, the MACD would have a challenge to decisively decline below the zero level.
Another alternate count is shown below as a bear flag type and also labeled as a,b,c,d,e. Once a recovery for e completes, then a decline would occur to a lower low. This is still more of the a,b,c decline alternate.
I sustain 10% of portfolio in USD cash. This allows BTFD actions to be taken. Having cash to buy these kinds of corrections provides significant empowerment which becomes additive to the levels of confidence and empowerment. If you have zero cash, then it's during these corrections when you will feel like you have to sell at these low levels to raise the cash when price was rising.
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 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.**
Hi @haejin Happy Holidays! You know I have been sending you several messages in past previous of your posts, because I envision truly that when cryptos get even more popular and Steemit (together with other SMTs that will be created and other front-ends of the steem blockchain) becomes one of the largest social networks, you will be interviewed by tradition main stream media, newspapers, and channels around the world, to let them know how you predicted this high growth of cryptos, and the downsides of others realtime. Hope you dont forget about as, when this happens! Sure not!
I am not sure if you checked any of my posts on the past, but I was here to watch you grow from less than 500 followers to the over 13,000 you are now, and I also experienced learning from your technical analysis (learned to fish a bit), and also took your information advise to buy some cryptos, and they were right with good accuracy. Sometimes time varies, but that is something very difficult to do, timing the market!
I first saw when you had few upvotes, to the many more upvotes lately, and that shows people are making better trading decisions with your posts. Also, when you got the backup of @ranchorelaxo you started to be paid for all the previous hard work you had been doing. He noticed same as other people on steemit that you were doing good for many people and making them improve their trading, and with his upvotes many more people started to see your posts and be benefited from them.
I am not sure if you saw any of the chapters from the 11 chapters full Steemit guide I have created to help new visitors, new users on steemit and minnows to understand as much and as fast as possible about steemit and the steem blockchain, and thus help them make their way on the platform.
Thanks to your huge support @blocktrades and the one of @lukestokes @steempower , @timcliff , @cryptographic , @starkerz @stephenkendal is that the full steemit guide is reaching many more people and hands, and that is great. Now 280+ comments questions from new visitors, new users on steemit and counting. Really glad this is helping many more people than I expected.
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Here is what Chapter 5 is about, and a link to it:
Chapter 5 of 11: Learning some of the many "Other ways to Earn Rewards on the Steemit Platform & Steem Blockchain" - This is part 5 of the 11 Chapters (Full Guide) to help new people make their way on Steemit
https://steemit.com/steem/@gold84/chapter-5-of-11-learning-some-of-the-many-other-ways-to-earn-rewards-on-the-steemit-platform-and-steem-blockchain-this-is-part-5
Looking forward to hear from you on this one in any comments section, of any Chapter! Your knowledge and experience together with @lukestokes @timcliff @starkerz @stephenkendal @steempower has been inspiring me to continue with the series, and even add more value and additions to it.
Regards, @gold84
TLDR?
well I would recommend you to give it a read
Like Hajin didn't either
I checked his guide and I must say specially newbies might profit from this since I was a little lost when I landed on steem and only had this very skinny FAQ to help me. No reason to be so critical :-)
@gold64. TLDR? GTTP(Get To The Point)?
Hey all!
I have put together some picks. They are low market cap coins that I believe have great potential for profit. Obviously there is risk and do your own diligence before buying. I am not a financial planner or advisor.
In no particular order:
(Follow me on my new Steemit for daily picks, and have an excellent day!)
Just tell briefly what to do instead of just posting a link, looks like a scam ...
he only promotes his guides which you find in his blog, the content is good as I can tell
Thank you !
Thanks for great update waiting for more data points ! Got dry powder ready ..10% cash and your portfolio overview is greAt thanks for all you do !!
@haejin, I would be interested in getting your thoughts on dcorp, if you are looking at new cryptos to chart.
Thanks for the solid analysis on this recent BTC correction. Fully agree that having % of cash ready to make a move on these opportunities is vital, especially when trying to grow your portfolio.
Looking forward to some buying opportunities.
Early Bitcoin developers have been warning about the present state of affairs (extremely high fees, overloaded network) for years.
no reason to spread FUD, BTC is still the crypto flagship and the entry gate into the alt-world.
He's a BCH propagator, what would you expect.
Problem is, they will make the entire market go down.
Could you please do an update on Ripple?
https://steemit.com/bitcoin/@haejin/ripple-xrp-is-becoming-a-profit-tsunami-target-usd4-11-200-profit-potential - I would say we are still on track
Yes, but what's haejin's analysis?
I've just linked it right above, that wasn't mine no worries :-) it is haejins analysis from a few days ago, compare it to the actual chart and there you have your answer, not much changed ;-)
Thanks, I know it is his. My point is that he might have a different vision, you never know for sure.
If it changes, he usually does updates, if not it's on track. We can't expec5 haejin to do updates on everything every day. He's got to get some trading done too.
well the version changed slightly since the triangle pattern broke, now it looks like a flat, but the desitnation remains the same an I wont be touching my ripples until 4$ :-) anyway I might enjoy an update as well to see which kind of pattern or correction he sees there :-)
It can be a bit scary when someone just looks at the dollar amount whether its up or down, looking at the charts is the only way to really see whats happening.
Good morning! Finally you bring some light into this dark day :-)
Your last point is what is happening. People have everything in the system and are selling as they think they are losing money.
You only lose money if you sell lower than you pay.
Bitshares is falling big time.... oooo its an amazing game when prices are going up but not that great when prices are going down.
All this panic selling that is going on is REALLY REALLY going to hurt people. If you dont know what you are doing....do nothing at all, is the best advice i can give you.
PANIC = PAIN
I totally agree and I'm so greatful to @haejin that I've grown the confidence to ignore any FUD and resist panic selling. The only mistake I made is that I have no fiat left on the exchanges, so maybe I will have to increase my invests a little since I just can't not to buy these delicious dips.. Good luck and a succesful year to you!
People are just herd animals, once one starts screaming hysterically and running, the rest follow.
If they just shrug and stay, massive gains follow... if they run, they lose a lot and after a while, whales gather up all the lost money. That's evolution, why should stupidity survive ?
That's what distinguishes the human primate from other animals : it's sober intelligence ;))
Not.
Discipline is the thing, so banks and whales have pundits here who try to write the market down.
There's at least one article on cointelegraphe every day, "Crypto Market In Red, Total Market Cap Down $100 Bln Since Monday" and so on. Scream, scream ! Run, run !
So they run.
Haejin is one of the herders, who calm them down, and thereby he's the archfiend of the powers that be...
Finally, good news of the day comes from you ... Thanks mate.. @haejin
yes I couldn't wait to get his update, I wish I was living in the same timezone with him so I wouldn't be alone with my bleeding portfolio for half of the day :-D
Hehehe... :P Your wish will come true someday :)
we will see, but hey @haejin can be my guest at any time :P
That 10% USD is a really wise move. My ETH margin trades payed off well but everything else kind of sucked. I don't have much to invest so I've put everything on Crypto. When these moments come It really feels sad.
But then again when everything goes bull while I hold Fiat is also painful. To BTFD or not to BTFD. That is the question :-|
I have promised myself that I will not invest any more fiat, but these delicious dips are tempting me really badly right now.. I guess I will go for it
I really need to apply this 10% USD strategie when I'm doing my next portfolio adjustment.
I just made a post showing BTC touching the tip of it's triangle after breaking out, along with an example picture of what happens in a symmetric triangle.
and BTC's current standing;
I believe we are at a bottom.
Please check out the post;
https://steemit.com/bitcoin/@louwtjie/btc-update-symmetric-triangle-upwards-break-pulling-back-to-the-tip
Thanks for sharing.
Hello @haejin. Your posts are very helpful and informative. You are my steemit idol. @adedoyinwealth
Dont want to create FUD, just maybe somebody has some thoughts about this also.
Bitcoincash and ETH, are taking down BTC, dont think BTC will last very long, I know all is connected to BTC, but im sure someday BTC will not be the mayor player anymore.
oh my god , second case is 7000 dollar?
why wouldn't you enjoy a 50% discount?
Just buy EOS! 😉
aint it beautiful? bout a month out too, gonna raise some funds
Hi,
informative charts. Thanks for that.
Do you have any additional information regarding this chart development?
What's the reason behind the price fluctuation?
you should listen to his videos or get into his tutorials. none of his projections are based on news/events but solely on price. Good luck for you!
An Informative post.
Thanks for the analysis!
BTFD!!!
Thanks for this nice info. Especially the following charts that will benefit us about what will happen when bitcoin falls. @haejin
Good news.
Thanks a lot for sharing it
Upvoted and resteemed
Nice Man you are great :)
Follow and upvote pls follow back
I’m so much in love with bitcoin cause it’s simply the future of cryptocurrency
Let’s hope the first chart is the reality. Although a further dip could be a great chance to get in cheap.
Payday is Friday. Hoping we are still dipping!
no thanks, enaugh is enaugh :-D
Great! Keep posting us update! Please don't stop posting.
Great as always. Thank you!
I am watching your updates every day.
Detailed information.
I'm new to steemit kindly follow @official-mo and upvote
Can you do an update for Bcash/ dash/ zec/ Ltc?
Thank you Haejin
thanks bro
hot stuff
Good work
Haejin! You always give a trader confidence in his decisions. Although I would like to ask you: Do you have any recommendations for promising ICO-projects? So far I've invested in uTrust and Titanium ICO. Are there any projects that you are looking into at the moment? Keep up the good work my friend!
LTCBTC to explode?
yup
Thank you for TA
Only few clicks per day to get free satoshis check out more here:
https://steemit.com/bitcoin/@s3cr3t/free-bitcoin-up-to-200usd-every-hour
Thanks @haejin. Even with the alternate counts in mind you would buy these type of dips?
of course you would, it's the last time you will see this low befor taking off to next ATHs!
Again, many thanks Haejin. 🙏
Very educating and interesting video as usual. Thank you!
I really loved the part about the rich greedy wallstreet bastards. You are such an admirable person to me! As soon as my TA is on a sufficient level I will try to get a coaching with you.
I highly recommend it, I'm going to take my second lesson soon
@haeijin - you are my mentor , my guru. Thanks for teaching me these concepts.. :-)
"Unless we have a crash scenario" - now You freaked me out a bit. I think You never used those words.
Do DENT!
Imo there is a fallacy in the idea of always having 10% to buy the dip. What happens when you already bought what you thought was the dip but at a much higher level. That 10% is only there if you don't spend it. Once you btfd you better be correct or you don't have any more cash on the side.
thats why you dont buy everything at once but use laddering. check his tutorials on that topic
of course but once in a while the price will move past your ladder setting and you will be all in
it never happens that all ladders are filled if you are ladderin in at the bottom end of a correction which is what you want to do. also if you fail to hit the bottom, you of course delete the upper ladders.
never say never, that's a very risky point of view. of course your laddering will some times fail. Sounds like a martingale fallacy
This is my first post, I have no clue how steemit works. Haejin, thank you sir for all your works. It certainly helps with confidence for new traders (as in really new) like me.
Good analysis . Shoo away perma bears!