Bitcoin (BTC) Evening Update: BTC Target $10,600; BCH Target $1,832 Both by Bullish Inverted Head & Shoulders...Check out this analysis!
SUMMARY
Bitcoin (BTC) has breached out of the flag pattern and provided another all time high. I've laid out the primary Elliott Wave pathway as shown in below chart. If this is correct, overnight price action should give higher highs.
Below shows a very large inverted bullish Head & Shoulders pattern. The minimum price run is $10,341 which is pretty close to the $10,600 Elliott Wave target. If this pattern and Elliott Wave combination projection plays out, we could see serious profits getting made.
One alternate count is shown below since BTC loves Expanded Flats. Given the three wavish looks; the below could still play out.
Here is Bitcoin Cash (BCH) with its bullish flag pattern. Price is expected to breach the upper white line and start impulsing upwards.
Bitcoin Cash is also sporting an inverted Head & Shoulders pattern as shown and the minimu price run is $1,832. If this is correct, then BTC and BCH will be both going up! How can this be possible? What reason, news or rumor would be put out to rationalize this? To me, it'll be a simple case of news or events arriving to justify the forecast!
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
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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.**
Ayyy, your posts make it so tempting to flip coins and ride BTC more. Trying to stay diversified and avoid tax liability for 2017 by holding as is. Such a huge carrot dangling in those charts though.
Alts have huge potential. How excited would you be for another coin to go from $8.00 to $10.00, or $0.08 to $0.10. Don't let the Siren 10K take you off course.
it's all about percentages :) but reality is people in alts got killed by hodling alts vs btc [ not in usd but in btc if you care for that kind of things..and you should ]
Yup. It uses up about 99% of my nerves to stay 90% with alts. I still believe it's good in long term, but for the past 3-4 months it takes me, more or less each day, step closer to going crazy. I started with being able to buy X BTC, now I'm at about 0,5X.
yeap. of course theREAL question is not if eventually they go...but if you could have made more in BTC. I mean for sure you could have sold tops and rebought now more or laddering down. even if alts go 4x they might still be a loss vs btc. and with btc towards 10.000$...well, dunno. Hodl strong :D
Exactly my thoughts and my concerns. Recently I tend to think that alts are either for lucky ones (when You score really big hit) or for people that are much more experienced than me and can effectively trade.
I'm a HODLer and I'm afraid in long term BTC will prove to be best for people like me.
BUT... I may be thinking like this because alts had a few weaker months. Changing my strategy based only on this, could be stupid.
Future will prove if I was right or wrong. Either way, I will get there with no fingernails.
It would be awesome to see a research on "crypto volatility to nail biting relation". Or even better - "general health and appearance of hands between general population and crypto investors" :-)
Hence, I trade to USD pair almost always.
not that many high volume /usd /eth pair.
But I find it a little ironic to say you opt out of fiat but actually trade on fiat pairs :D
I trade 1/3 of portfolio and hold the 2/3 in crypto. When I trade, I trade to USD and not BTC.
Thanks for the guidance. I'm pretty set on my game plan, and not a trader, but Haejin's posts have made me question my holding game plan a little. I'll stay on the course for now. Can't have it all.
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STOPHi Haejin, firstly thank you for spending your own time to help us learn!!
I was wondering you often post the sub wave predictions which fit into the longer term wave trends. Hope this makes sense, could you do a couple where you do the sub waves and the larger longer term waves. So for example what is your recommendation, ive got into quite a few CVC, XRP, XWC, SPR, Stratis, XVG, Steem, GRS etc ive been trying to work out a strategy, so I mean lets say Civic pops bang up to the shorter wave prediction- say $3 odd, would you sell 50% take some profits of the table, keeping 50% if the longer trend pans out, however selling 50% encase it doesn't- you've still profited either way..Thanks again!!
Each video builds upon the previous, and your observation makes sense.
Please review laddering videos. Haejin will often set up 8 - 10 rungs. It is genius, and it works.
Thank you!
Identifying and sticking to a strategy is definitely a challenge! Mine has evolved, but this is where I am now: I have a set of what I consider to be core holdings. One of the major factors in determining these was Haejin's long term projections (a couple months ago he did a string of 6-12 month projections). I went through the stage of thinking I would trade every wave. But now the way I see it is think about selling at the major 5 waves. Then buy back on the correction that follows so I end up with the same # of coins.
As an example, I have 165k XVG. I plan to sell maybe 65k at the wave 5 top around $0.045, and then buy them all back for less. My thoughts anyway.
Thank you! As a newbie was trying to keep it somewhat simple, im similar to you in that have almost 150,000 XVG, planned to sell half when he was suggesting that possible $1, then holding the other half longer term. Balance out some early profits with still going for some longer term/larger profits if they pan out that way...plus being bit inexperienced not trying to be too tricky yet and sell at ever wave and buy back in low..can be patient if need be while I learn. Have watched heaps of his videos lately will get onto the laddering one shortly- happy profits to all :)
where are oyu selling on the pair xvg/usd?
Thank you very much for the great work.
It's nice to see these, but why do you need to post so many?
This is like asking a baker why he makes so many loafs of bread everyday - thank you haejin keep up the amazing work.
I like your style. Welcome.
95% of my posts are as result of requests for analysis by followers/readers.
Thanks a lot for your valuable time and wise teachings. We appreciate a lot.
thank you shi fu
Ok. Well you need to meet those requests, so keep up the good work.
There are many people with different needs on the planet :-)
I think many post are good. So there is something for everybody ... I like it ...
Great work, thanks! 👏
Hi could you do an analysis of doge ? Thanks
POWR analysis - reading this 30 day, does it appear POWR is on wave 5 extended, and should correct A B C for another potential buy point soon?
Cheers -
First
Stellar analysis as always haejin...thank you sir