SUMMARY
Bitcoin (BTC) overnight price action is showing that the correction is now well underway. The chart below shows that price will likely take the blue arrow path where it could touch and sit on the upper white trend line before resuming the uptrend. The alternate is the white arrow where price can temporarily pierce the trend line as a way of getting rid of weak hands and as result pop right back up like a buoy underwater.
The closeup view shows that five wave down is in progress and nearly complete. This would signal the next step where the blue (b) wave would provide a bounce towards the region of $11,300 or so. The final blue (c) leg of the correction will also consist of five subwaves; thus completing the ZigZag (5,3,5) correction.
The Fibonacci chart shows that the correction will likely reach the 0.5 (white waves) or the 0.618 zones (red waves).
The larger picture shows that the uptrend is still intact and likely follow along the blue arrow line. The Inverted H&S has NOT been invalidated.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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
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What do you think about that we're in an ABC within a bigger ABC?
Don't know about the bigger ABC. It is a possibility but what gives?
But I also think the minor abc fits better into the overall picture.
Posted my chart as a reply to Haejin's post.
Thanks Haejin you said there would be a minor dip and it happened. You've helped so many people in this community and have a lot of friends and followers. May the multiverse of abundant realities converge on your wallet.
Long live capitalism and your rightful Lion's Share on Steemit for your hard work of technical analysis. Let the punkass haters sit and marinate in their underwear in their government provided homes, talking on their obamaphones, and bitching on their keyboards about not being able to buy liquor with their foodstamps
Haejin is not showing anything extradionary.
In the 4H graph you could ride a train from 10560$ to whatever price (because that is when a kumo twist happened) and have the close orders ready on the kijun sen.
Your orders are closed now and you made a nice profit. There is no need to use Elliott Waves or make 2-3 updates daily about a single cryptocurrency.
In the daily graph it has no bullish signals ready yet.
You are entitled to your opinion but there are many of us who appreciate the updates throughout the day. Many of us are still learning and don[t yet have your wisdom.
I understand you jghowe.
If you would like to learn TA analysis there are much better teachers on youtube though.
Maybe can go down a lil more and touch the cloud on a tf of 1h is abearsish trend, probably there will be a pullback soon
You are right - for people with own TA experiences.
But thats not the audience of haejin.
@eirik. Blah, blah, blah. Sick and tired of people who does not use their brain, no critical thinking skill and spread stupidity!!!
Haejin's predictions WILL lose you money
My IMX TA, Give me $300 upvote!
My FIRE TA, Give me $300 upvote!
My MAY TA, give me $300 upvote!
My DOGE TA, give me $300 upvote!
Haejin's Voting Trends
Bernie's Voting Trends
Haejin's rewards come almost completely from a single user... Haejin doesn't care about you or the money you make, he just wants to earn as much money as he can and in the process he will ruin and kill the profits of others. So lets spread out these profits, #flaghaejin
Grow up and quit whining......instead why don't you do something to contribute to the community!
Thank you Haejin
lol - funny @diverse. Idk whats goin on but I learnt a lot from Mr. Lee and it has helped me for-seeing the future trend not to be panic and be patient. I hope it will pay off big soon.
Bitcoin (BTC) Morning Update: Proposed Path of Minor Correction ..
This is the end of the benchmark (BTC) and we expect the price to increase and we beginners will never know about Bitcoin (BTC), because we know here how we can make $ 8 dollars or 8 sbd in a week and be able to we use well, thanks information
@haejin Thank you for everything you put into this community. I firmly believe you are true to your statement of doing no harm and it's very sad to see some of the hate your work inspires. I joined Steemit last year because of you and I'm sure many others who are now discovering Steemit have come because of you. I hope you continue to push back on the haters and that all your followers stand up and be counted so the accusations that you have so many bots and fake accounts can be disproved once and for all. Keep up the good work - thanks.
Interesting
Thanks for your great work, @Haejin!
Lol
I like Bitcoin. Good update news about Bitcoin. Thanks @haejin
@haejin ...thanks for helping us with such BTC regular updates...haha..the only thing is that your morning BTC update is a night time update for me...as itz 8 p.m here right now..:D
I wasn't sure about this account at first because I heard so much negativity about it when signing up for steem.
In fact so much so that I would feel afraid to even comment. In regards to steem rewards I think you are taking the optimal strategy, which is what one would expect a technical analyst should do.
If there is a problem with how it pans out in the end it is simply a sign that the system encourages said behavior. This in turn exposes possible weaknesses in the Steem blockchain.
Anyways overall I find your analysis interesting, all the best.
bitcoin is really trying to test my patience.. but otherways it would be just a bit to easy I guess :-)
bitcoin doesn't even know you exit, so don't take it personally.
well...yea, I guess I'm supposed to feel better now..? :-P
The analysis is superb.
Thank you.
Its price is expected to continue to fluctuate unpredictably,
Haejin's predictions WILL lose you money
My IMX TA, Give me $300 upvote!
My FIRE TA, Give me $300 upvote!
My MAY TA, give me $300 upvote!
My DOGE TA, give me $300 upvote!
Haejin's Voting Trends
Bernie's Voting Trends
Haejin's rewards come almost completely from a single user... Haejin doesn't care about you or the money you make, he just wants to earn as much money as he can and in the process he will ruin and kill the profits of others. So lets spread out these profits, #flaghaejin
The wave 3 of 3 we have been monitoring in the past days was not impulsive at all. Taking a step back, to me the idea that we may be in wave 2 fits better into the overall picture. I also like the fact that the there is good horizontal support around 8850/8950 usd which would bring the correction to 50% fib of wave1. Also the increase in volume today kinds of confirms that we are in a corrective secondary trend rather than a lower minor trend.
I do not see the volume to confirm the inverted H&S but another interpretation would be an ascending triangle. However, volume should decrease near the apex of the triangle which is not the case so I prefer the wave 2 theory....
upvoted as always. thank you ~
My BTC analysis. This is a new method I have discovered, the Pebble Count Technique.
Enjoy the laugh. Thanks always Haejin! Love and Light
its like predicting childs gender. 50/50 chance
check out my new post
https://steemit.com/science/@elbaryboy/a-new-invention-makes-contaminated-seawater-drinkable
Like
@Haejin my friend. I find it hard to know what to comment on your posts. Am I only supposed to sing your praises? Serious question. Because last time I posted here, I was flagged by some of your worshipers and then you made a special effort to head over to my blog and request that I not advertise on your posts (which I asserted very clearly I am not intending to do).
I am simply providing your followers another perspective to consider, which you have verbally encouraged. I am thinking independently, also encouraged by you. And then, I am providing a detailed trail of my logic in the comment. But rather than spamming the whole post, I simply provide a link which the readers can click on should they desire to read more.
I was actually attempting to be considerate by NOT posting an overly-lengthy comment. And this was the gratitude I received? Why?
I do not desire followers. I do this for fun. I do this to broaden my horizons and others with me. I do this so that we can all learn together.
I have a great full-time job. I get paid very well. I post to contribute to the community. No alternative angle. You may not understand this mindset but it is purely altruistic.
I do not need followers. I do not want followers. I want to learn together. I want to hear other people's thoughts and opinions. I want to listen to others. I want to hear what they say in my comments section.
I allow people to speak so that I can learn from them. A plethitude of perspectives can only broaden the mind. Do you agree?
I do not need money. I do this in addition to a full-time job in hopes of helping and encouraging others. I do this because I enjoy it. Why judge my intentions antithetically then? Why make ill-assumptions and cast this judgement?
I do find it paradoxical, to say the least, that you, who encourage freedom, dencentrality, independent thought, inclusive perspective, and humility, seem to act anti-paradigmatically when approached with a differing perspective. I am not suggesting you are a dictator or narrow in allowance of outside views or arrogant. I am only suggesting that this is what it appears to me from the little interaction I have received from you and a few your followers thus far. Not good.
Can you please explain why you do not allow differing perspectives? Not to do so can become dangerous and, in fact, harmful to your followers as one-sided perspective always is. Please consider allowing a confluence of opinions in your posts. In so doing, we can work together to foster and cultivate an environment conducive to a broad array of ideas. We can enrich, enable, and inspire the community together. We can make this space the caring, sharing, and inclusive culture is should be. Will you do this with me?
Let me know. Thank you kindly.
Stop it please, I read you twice spamming it is useless and annoying.
Thanks.
If haejin has not responded you yet, he will probably not, just stop spamming your message I have to scroll down/up to read other comments ... I will have to ignore you, other people may have done it already, and that's not what you want I guess.
Reposted because my other one got flagged. Sorry.
Sir. Like @Haejin, I offer my technical analysis insight on cryptos.
morning???? but its night here(lol)
Lol...It's afternoon here... What a world!
thank's for sharing
Do you think that chart is probable?
Thanks for your work and your replies!
Haters gonna hate
thanks for sharing this information....
Hey Master,
thanks for another crispy TA :)
Im wondering if you could make a Golem-Update maybe a Goem/BTC in order to get aware of potentionally good opportunities :)
Thanks 100x in advance,
All the best from germany,
johannes
@haejin what do you think about trading to ETH? never see much info passing about trading to ETH.. imho ETH is more stable to be king, speed higher and fees less lower than BTC also.. so why do i have the feeling i'm the only one interested in trading to ETH? :)
thanks for your opinion
have good day!
Vechain might be a common response to analyse right? :)
Thank you for your TA. I respect your opinion on price action and it helps me expand on my own analysis. I always do my own analysis first before I get yours and others perspective, and I would urge others to do the same. I am new to steemit and primarily joined so I could show my gratitude by up-voting your posts.
If it is at all possible, could you take a look at NEO. I believe in the project and the recent FUD has allowed me to increase my position. I would love to see your short and long term perspective.
You are an asset to this space and I hope can look past the ignorance of the haters to us who respect you and your work
Your information is very good. This field is usually complex, you have to study a lot of statistics to be able to enter many things.
Upvoted! Thank you Haejin. Can you do an analysis on KICKCOIN ? Thank you !
Good Morning Mr. Lee, Nice post. I see a great up trend potential on MINT. Could you please write an update on it. I thin Wave 3 is about to start or already started so fireworks ahead of us?
goof
I don't know if there is any validity to your analysis. I am just here for the entertainment that is offered. Keep up with what you are doing!
Thanks @haejin
Thanks Haejin, always appreciated.
I very much agree with your detail count, though I do believe the bigger count is different. Ascending wedge pattern (ABCDE) as a large wave 2 is what I have been seeing for the past days now.
Feel free to check out my blog for more in-depth information and details in regards to the EW count and technicals.
İs it decrease or increase we are waiting for a month
Here's my BTC chart for today :)
@thedolphin
What do you think of ETH?
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Hell Yeah
Crypto Currency is Failure in Coming Era because in year 2018 its rates are just getting down Day by Day if i talk about crypto in Pakistan so it's Probably Illegal to buy and sell Crypto Currency in Pakistan from Any Website !
This is my Own suggestion !
Dear Haejin , I know that the error of recognition is always forgiven, but not so that you can sell your face anonymously at the price of altruism. The way you try to update patches continuously for hours is to pay a lot of attention to the many people in the community. I have been wrong and feel ashamed of it. And now I understand why you hide your face.
If you are trying to contribute for community purposes, just stop.
Coins mentioned in post:
Haejin, it says you are making 270$, didnt you say you were going to do free TA? It is costing this platform a lot having you post them on here. So you are not doing it for free at all. You are doing TA at great expense to a brand new blockchain and platform. Therefore you saying you would do TA for free is a blatant lie? Otherwise why are you making 270$ on this post, Doesnt sound like you are doing it for free. Therefore I am continuing downvoting until you do free TA as you said you were.
interesting