IOTA: A Healthy Correction
SUMMARY
IOTA generated a wxyxz (blue) as its correction which retraced almost to the prior wave 2 even in the abscence of an extended wave 5. Since the blue Z wave completion, price impulsed in five waves up (white). The key question is when will the ongoing correction complete.
The white impulse waves traversed in fives but in a channel (blue lines). This could be seen as a bear flag which makes sense since there is a requisite correction following a five wave move.
When seeing the closeup of the chart, the minor correction could be contained within the boundaries of a symmetrical triangle. The label of the abcde is temporary but the red E wave targets the 0.618 Fib level.
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Coins mentioned in post:
Coin.info, you beautiful bastard.
Stop spamming, please, as you are destroying Steemit with this content
Stop spamming this perfectly good content with your comments.
... who cares if Haejin gets tons of rewards for sharing his technical analysis expertise? Is the idea that it takes away potential gains from other users? Feelisgood, don't you only stand to gain if someone opposed to Haejins rewards rewards your post?
LOL... his "expert technical analysis" has resulted in about 5% accuracy. Almost everything he has posted has failed time and time again.
masterjoe, if you were a real student of technical analysis, you would understand that tying the credibility of an analyst to the eventual accuracy of an analysis on a single snapshot makes no sense whatsoever. Haejin's trade ideas serve to draw attention to charts and price action that serve further personal analysis. I would never take a trade based on a snapshot. The value of Haejin's posts come from getting a glimpse into his method of analysis. If your criticism represents the main crux this whole "anti-Haejin" effort, then it is absolute nonsense.
I was a fan of Haejin, until his greed became all too obvious. Over the last few months, he has constantly made bullish calls on the obscurest of alt coins, even though we all know by now that alt coins typically follow bitcoin in price action. The fact that he failed at even acknowledging this proves that he only does these TA charts to get steem rewards from people who think hes some kind of prediction guru. The fact is there is much more to elliot waves than drawing some lines. He rarely talks about support and resistence, trendlines, and never goes back and sees if his predictions actually went up as he thought they would. He likes to claim high accuracy without any facts. There are way better analysts out there.
Your bias is so clear that it is hard to take your perspective seriously. You seem to have an agenda against Haejin that you could profit from if others reward you for your efforts. All of your criticisms are subjective, and lead me to wonder, why not just read someone else's TA posts? The rewards Haejin receives do not prevent any user from working to build their own content to compete and receive their own rewards.
IOTA is perfect crypto, great project.
GOOD
@haejin
Thanks for the info. I just started looking at IOTA.
@Lymmerik
They have some, um, timescale issues, but being the first DAG, working with the likes of Borsch etc, makes me think there is really something to IOTA. I'm HODL-ing!