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SUMMARY
Nxt put in five waves up as shown below. Elliott Waves states that after five waves, there is a requisite retrace in the form of an a,b,c correction. However, there are three primary types of corrections. There is the a,b,c zig zag and flats. Then there are the triangles. I've labeled what I think 9 out of 10 times the Altcoins pattern out...an a,b,c,d,e triangle! When in doubt as to which pattern is being made...it's a triangle! Also, don't forget about the the Hurry Up & Wait Syndrome. This means that while the impulse waves are put on very quickly, the corrections become slower than molasses flowing upwards outside in the middle of February! Yes, the corrections are NEVER quick for the altcoins...they are always slower than turtles on the corrections! Don't forget this.
The NXT/BTC pair is also expected to correct. The below chart shows a broadening pattern where price has already hit the upper trend line. The likely scenario is for price to become attracted towards the bottom line. HOWEVER, the two double bottoms are very bullish....so, should price breach decisively the upper trend line and stay above it...we could have a very different bullish story to tell. So, let's see if this breach happens.
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.**
NULS touched the target, can you make a new analysis ?
wish i could have bought it in time .
I guess u are not alone.
Double cup!!
thank you for all the info. and we did post other videos about crypto's
Could you please do an update on FunFair?
you be our hero
NXT is due a breakout to the upside, once it breaks the 80 cent resistance levels, I can see it heading back to the $1.60 range and above.
i felt bad when it dipped and i had some NXT in my wallet, i hope it corrects faster since i didnt sell my coins, cant wait to see it back above $1.5
this will take time though.. but when it does, it's happy hour..
We appreciate you Haejin!
good post you frenn
Will buy a little today. Thank you.
All the TA in the world isn't gonna help you if you ignore the fundamental analysis. NXT is a dead project walking. ARDR is the next generation of NXT, and the only reason that it had the run that it did in December is because people were hoping to get an airdrop of the first ARDR child chain: IGNIS. Anyone who did the research could have told you that the coin would dump the second that the snapshot occured, and that's exactly what happened.
That's not to say that NXT won't experience a dead cat bounce or two over the new few weeks, but anyone who values their capital will stay away from this one.
Take into account other factors when doing an analysis. NXT took a snapshot on Dec. 28th to airdrop 0.5 Ignis coin per NXT. With Ignis futures trading well above $2 I believe that precipitated an exaggerated bull run as people were acquiring NXT to secure more Ignis. Also the price ran up as traders in the know were more likely to hold.
Price peaked at the snapshot and it took only a couple of days for the price to tumble below 50 cents.
A correction makes the most sense given the external forces which drove the price upwards.
No fundamentals are used in this style TA. The call comes out, the news comes later.
I hear you. Keep the technicals and fundamentals separated.
@berniesanders new account @iflagtrash. Talk about raping the reward pool. Check out the single post in the blog and the thousands of dollars in rewards for comments like 'Test', 'Uh Hu'. Great well thought out content. Deserves every cent. Definitely what Steem is all about. Followers of @berniesanders, its good to see you lining this Conartist, Bullys pockets.
Very interesting :) Thanks
Daniel... we know the truth... stop lying and taking from US...
@berniesanders new account @iflagtrash. Talk about raping the reward pool. Check out the single post in the blog and the thousands of dollars in rewards for comments like 'Test', 'Uh Hu'. Great well thought out content. Deserves every cent. Definitely what Steem is all about. Followers of @berniesanders, its good to see you lining this Conartist, Bullys pockets.
Hey STX (STOX) hasn't gone up. Do you still predict it to hit $1.50+ soon
Thanks :D
How about you hodl a few months at least? Yeah, nothing's over night.
Only TA is not enough for STOX, stratisking want out of STOX, it can't rise at the moment, you will have to wait.
I think spreadcoin SPR and Reddconin RDD took 2-3 months from analysis. Is 2-3 months too long to wait for 10x or more profits?
Nope!
Doesn't matter.....news and events never beget the sentiment reflected in price pathways.
for my nxt has the days counted for it to disappear
Why do you say that? I don't hold nxt, just wondering.
good job @haejin. Thanks sharing bitcoin information.
@resteem
Thank you.
ABY is ready to go up! a,b,c,d,e chart complete.. check it out!!
Thank you mate for this informative blog
The price of Ltc/btc dropped whats your prediction for the near future. February for instance
Thank you.
thanks for the information
Thank you :)
Anyone check this out is free money https://steemit.com/bitcoin/@s3cr3t/free-bitcoin-up-to-200usd-every-hour
DentaCoin DCN has a beautiful cup and handle
Hey Haejin, can we get an update on xvg, when can we expect our returns, we've been hodling forever and we feel like sitting ducks
your amazing man.
i love you ....
i upvote you resteem you and follow you .
Is anyone else beginning to believe that the majority of the analysts in the crypto space are merely using the DMA to gauge bears and bulls?
I mean, how many times have you read that we should all simply HODL. Isn't that in itself not facing the issue that crypto is a market?
These little hodlers really need to get up to speed with Haejin Lee!
Corrections are good and healthy for the currency to progress in a consistent upward trend, though the occasional volatility after a correction is not ideal haha
INTERESTING .
KEEP POSTING AND PLEASE TAKE MY VOTE
THANK YOU
posts that can be very outdoors, teach us that we can post the right, greeting steemit
follow me plz
https://steemit.com/@omarid
Hi @haejin
I’m new to the space, but I ran across your precious post about NXT “it’s bull run isn’t done yet” and this post is saying that it’s going through a correction? I am just trying to determine, if this post was showing more accurate up to date info or not. Was your first post an error or was this post part of the bull run that NXT is estimated to have? Or is that no longer the case. Thanks