Bitcoin (BTC) Evening Update: $18,424 and then $20,467 Short Term TargetssteemCreated with Sketch.

in bitcoin •  8 months ago

SUMMARY

A near precision hit of my morning forecast! Using the proportionate relationship of the flag Fractal #1 and #2 provided a reliable guidance to the upside target of day time price action! Not too shabby!

I have set multiple upper level short term targets of $18,424 and $20,467 as shown in below chart. These are the subwaves of the 3rd wave to $23,531 target. Therefore, BTC has completed circled white wave 1 and 2 and currently progressing through the circled white wave 3. I believe some exciting times are ahead. The video has more details!!

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?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--

If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf


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.**

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

i hope for 23k ;)

Maybe another probable outcome would look like this:

Screen Shot 2018-01-05 at 11.08.30 PM.png

Back down and then....UP!

·

Seems like you're right on it! Good job!

·
·

Thanks but this is still a second or third probable outcome. This dip we are experiencing might be the fuel to bring BTC to @haejin 's $18424 wave 3.

·
·

This up and downs are making me crazy! But this is crypto ;-)

·
·

good job

·

I wonder whats going to happen, dropped a bit overnight, thought might go to 18k. Have at the moment 50 % in BTC on my portfolio was looking forward to that rise to 23k :)

·
·

Hopefully you rote some of that at the next top to alt coins:)

·

agree agree agree agree!!!!!!!!!

Bro, why are people hating on you so much @haejin. You sound like a compassionate human trying to help out anyone willing to listen. You helping others around you get more experience points (XP).

I really appreciate this analysis. It excites me and I thoroughly enjoy the statistic analysis, your trajectories are art man.

You've got my follow!

Keep it fucking up! Do I downvote or upvote?

·

Upvote all the way. Unlike downvotes, you'd also gain curation rewards. when you see hundreds of dollars of payout upto 25% of it goes back to the hands of upvoters. So upvote all the way!

·
·

Wow! Thanks mate. @vimukthi

BTC seems to be having trouble getting over the 17K hump.

Thank you for the update, let's see tomorrow morning how it goes :)

Not so high as predicted for now. As we are learning, I am curious what was the third probable trend?

@haejin I really missed the alternate count. I am charting the waves and patterns myself, and always do alternate counts. Watching you do it helps me understand what I am doing right and what I am doing wrong..

Perhaps you could just show an image of your alternate count within the post here on steemit as a bonus for us and leave it out of the videos??

Thanks for all your hard work :)

·

@live-and-learn, me too! But I had few alternate of my own, can u share one of yours?

Easiest, doomsday caller;

Thank you and Good night @haejin! As always, Upvoted and Resteemed!!

·

FoldingCoin is going to the Moon right now folks. Haejin can u give update on FoldingCoin???

·
·

Yeah, it's been on fire! CURE is also doing really well which I'm merge-mining with FLDC.

·

Hey @haejin can you please do a review of SBD and STEEM?

Bitcoin is going to re-assert its dominance.

·

So many people said it was dead...lol Amatuers.

·

The whales will not pump BTC until they have exhausted the Altcoin Popping Fest

started following you via a recommendation from a friend, looks interesting!

I think Bitcoin is going to 50 K within 2 months~!

Another great hit. Let’s hope you are on with the predictions for the next price move and we can regain and surpass the prices we saw a few weeks ago!

very informative post @haejin , thank for sharing this post..

this will alert us all the prices of cryptocurrency.

More steem power to you..

Guess the FUD about China banning mining practices has been debunked and survived :)

we have to see bitcoin on long term basis say at least 6 months

nice..i don't thank u enuff.
https://steemit.com/haejin/@blhz/nice-haejin

18k will be next before 19k, step by step.

Could you please do an update on Litecoin?

Btc back at it again

What do you think about kin Coin?Its price is 482.76% more than last week.

I'll be interested to see just how long Wrecked Bitcoin (BTC) can keep on fooling people into thinking it's a viable long-term cryptocurrency versus Real Bitcoin (aka Bitcoin Cash) and other cryptos that didn't shit the bed when it came to addressing scaling.

·

When the lightning network is implemented on the BTC blockchain, won't that make BCC obsolete? What does BCC offer that Litecoin + BTC with lightning network won't be able to offer?

·
·

The lightning network is not even a finished product yet, who knows how or if it will work.!

To me it seems like BTC has been hijacked by the banks, as they basically own the lightening network and is pushing for the development of it (from my understanding). They refuse to increase the block size, because it will limit their business opportunities for profiting of Bitcoin transactions...

BTC is practical for trading altcoins, and that is that IMHO. It is definitely not digital cash as it once was, and I dont imagine anyone buying coffee with BTC in the future. It is no longer digital cash, so whats the point of it really???

I guess It can (in theory) become "digital gold" with a store value. Which would make it practical for trading altcoins, but not for purchases and transactions between private individuals. So, if it just becomes something people hold and never use, will it have value? - My guess is no.

Is BTC today the bitcoin described in the original whitepaper? - NO
Is BTH today the bitcoin described in the original whitepaper? - YES

·
·
·

I agree with you.

The big banks and exchanges and miners will take advantage of the massive influx of fiat currency into crypto to extract fees. Today, the miners are essentially rate limiting, meaning they are taking those willing to pay higher fees into blocks as a priority. Every single movement costs.

I think there is room for an alt coin to win out over slow and expensive BTC. There is a lot of money coming into this market in 2018 and with no implementable solution, it's only going to get worse. I learned today that Coinbase is now taking 9 days for your BTC order to be processed. I see weeks in the near future. It's not at all a solution and it will never be used by regular people to buy regular stuff.

·
·
·
·

Good point about "Today, the miners are essentially rate limiting, meaning they are taking those willing to pay higher fees into blocks as a priority. Every single movement costs.", and this is some proper bullshit (them not you)! The whole point of BTC was to included everyone in a decentralized monetary system, not just those who can afford to pay, that system already exists, and it´s called banks!

And yes, it will get worst, seems like the BTC developers really have their heads up their asses. They claim that BTH is a fraud, I think that they are the fraudsters! In my country we have a saying "thieves think all men steal", this surely applies to the BTC developers who have currupted BTC at the highest level!

They call Roger Ver (@rogerkver) "bitcoin judas", I think that he is extremely brave for standing up for his beliefs and doing what needed to be done, fighting the good fight!

·
·
·
·
·

"The whole point of BTC was to included everyone in a decentralized monetary system, not just those who can afford to pay, that system already exists..."

By increasing the block size in BCC, you harm the ability of individuals to participate in mining, therefore you harm the decentralized state of the blockchain. If you want a weakened state of decentralization in the name of accommodating small transactions, why don't we all just use Ripple?

·
·
·
·
·
·

Really? You compare Ripple with Bitcoin Cash and claim they are centralized in the same manner?
And, which individuals?? Do you mean the mining farms in China or India? LOL

·
·
·
·
·
·
·

Of course there is centralized mining forces in the current Bitcoin ecosystem, but increasing the block size enables that centralization at the expense of individual mining even further.

·
·
·

The value of Bitcoin lies in its superior security - with a longer and better track record than any other crypto. It's not valuable as a store of value because of the volatility, and the fees make it not practical for small transactions. It is the most secure though, and no other cryptocurrency has yet been tested at the scale Bitcoin has. It doesn't matter what the whitepaper says - Bitcoin's security is what makes it revolutionary.

·
·
·
·

"It doesn't matter what the whitepaper says" - Just wow

·
·
·
·
·

My point is that much like a religious text, everyone has their interpretation. Claiming your preferred coin is "the true interpretation of the holy book," is worthless.

·
·

There's always something coming Real Soon Now that will make BTC work. Segwit. Then 2x (oh, wait, they promised that then reneged). Lightning Network. Etc.

Yes, Wrecked Bitcoin might eventually be made to work reasonably well, if the core devs and the miners can get their act together and stop being short-term greedheads.

But Bitcoin Cash already DOES work the way Bitcoin was intended to work. So why wait around and hope that maybe, just maybe, the core devs and miners will someday extract crania from recta for more than five minutes running?

·
·
·

"Yes, Wrecked Bitcoin might eventually be made to work reasonably well"

Well said!

·
·
·

Increasing the block size undermines the ability for individuals to participate in Bitcoin mining. The notion that you should increase the block sizes and forgo the strength of the decentralization of the network by inhibiting the ability for individual participation in the securing of the network - all so that people can buy a coffee with their Bitcoin is very misguided in my opinion.

It doesn't matter what Satoshi's intentions were - the only thing that matters is what actually makes Bitcoin revolutionary, which is - Bitcoin is the first global decentralized digital asset and is more secure than any method of peer to peer transaction that humans have devised to this point.

Fees pay for mining, which secure the network. If the price of Bitcoin Cash ran up substantially, the fees would skyrocket too. Bitcoin Cash is not immune to price volatility - how can you expect it to function as a means to make small purchases any better than Bitcoin or Litecoin.

And what say you about Litecoin? As far as I'm concerned, Litecoin is far better suited to achieve what BCC supporters are going for. BCC is totally unnecessary and confusing for the average consumer.

·

everything is paired with BTC... We will not see it dying anytime soon.

·
·

And that is really its only function...

hello

could you do RCN please.

Thank you for your timely well done technical analysis of various coins. Your hard work is valued across this community and please do continue. You have earned my follow across all platforms and I will be turning others onto your Steem posts as I think this will extend the most value in return to you, Sir. THANK YOU!

Hey there Mr. Lee and fellow students. Started to get worried about ARK. Deleted everything and redrew it. Is it done correcting!? I think so actually! I am but a novice..any feed back would be much appreciated!

https://www.coinigy.com/s/i/5a5053f2cce9e/

·

Possible, I got in Ark too early too, got to wait for correction done before it goes up and take profit ...

I moved a good portion of my tradeable portfolio into BTC on Tuesday. So far so good. I also bought a leveraged long position on Bitmex for March 30th at $12500 a week or so ago. This looks like it will be the next leg up for BTC. Great TA @Haejin that is not my skill set.

·

I don't use leverage.
I wish you MASSIVE profits!

When I grow up I wanna be just like @haejin

An update on neo would be nice. Just wanna know how things have changed.

Do you accept requests for analysis on specific coins? I was wondering what you thought about Bounty0x (BNTY).

·

If you scroll back through @haegins blog, you will see that he has been positive on BNTY a couple of times . The last chart he did is still valid.

The more I see your plotting and how it works the more I get fascinated and enthusiastic about studying TA. Thank you once again for sharing your knowledge.

Any chance of a mid/long term TA viewpoint on Kin Coin (kin) & (XP) experience points, Thank you

Can you look at EBST? Its another gaming crypto.

Thanks for keeping us informed @haejin :)

Each Day provides its own gifts; @haejin

kindly info, kindly heart~
thank you much!!

So look forward to your updates. Its not just that you know what your talking about. Its the fact that your delivery is excellent, almost like you have your own show... which in a way you have.

A true Master. Thank you Haejin.

Thank you haejin for keeping us informed! Your hard work has shown! Sleep/rest this morning, afternoon, evening where ever you are at!

Great! Thank you always!

what do you think about Spreadcoin, Firstblood, Civic are they still gona rise or due to btc growth they have done?

As precise as anybody could be! Great job as always!

Thanks Haejin, great prognosis as always! I think we'll have a outcome of more volatile downslides before the upcoming ups, the previous patterns don't really apply now that it's working on completely different prices

pretty confident!

Make me reotch beotche! I have original content. send it to your friends and fam.... well, semi orig?
https://steemit.com/p2p/@sackdeezle/breakdown-of-business-blockchain-chapter-11

@haejin... i am wondering why that 2-3 will be that long ? its more than 2.618 in fibbo

So we need to sell all the other altcoin and keep anly BTC untill the power up period?

·

Depend of alts, depend also if alt go in phase with BTC, if btc goes up does not money comes only from alt and does not mean money goes only to btc, people can buy btc AND alts together.

Hi @haejin,

I'm not so experienced in EW compared to you, but my gut is saying me that we will go down to 10000.

https://steemit.com/money/@coinsultant/btcusd-another-correction-ahead

·

That is my alternate count

·
·

Haejin thank you for your analysis videos. I would really like to hear these alternate counts. It may give new players another outlook on their future trades and reign them in a bit to avoid some bad decisions. Hearing both sides of the story may help others make safer and more thought out choices.

Thanks again!

Another alternate is also a 5/flat/5, we are done with the 5 waves impulse of the flat and another 5w imp down could bring price back to 10k$, then up direction 25k$.

Check it out :
https://steemit.com/btc/@adri1202/new-apocalyptic-alternate-for-btc-correction

Thank you Haejin!

Great Post. AirNet Hawk-Project - @exstyle = 06/01/2018 _AHP15 :


Bitcoin (BTC) Evening Update: $18,424 and then $20,467 Short Term Targets



Sharing and Supporting on Steemit - Reaching deep space with 'best priced' RESTEEM
https://steemit.com/@exstyle

hahah another wrong "analysis" CRYSTALBALL

·

You seem bitter. Lost money on a trade???

I think we see another doubling this year. It is crazy how on any healthy pullback the media stories sensationalize it. BTC down 10%, they say its tumbling with no end in sight, come on. HODL

·

Marketing is everything these days :D

but in my opinon we allready beat the media stories again :D no crash.. no bubble... just bitcoin

And then $24,000, and then $48,000 and then $100,000,000,000.

Guys we're all gonna be rich :D

i hope you think right :D i totaly agree with your point of view but the not working transaction system of bitcoin is still a problem...

on the other side: the Futures are allready launched... maybe we be witnesses of the first wave of money which slowly comes to the Market.

anyways its very funny to be a part of it :)

cheer's

Thanks for the update and sharing experience.
My strategy is - just HODL. :)

my God, thanks for the great post. very impressed.good update.Let's c what will happen in morning.Bitcoins looks very much bullish nowadays.My believe is it will cross 20000 dollars in this month.Your prediction is outstanding.

Do you think big companies will bang the close of the first contract as it expires on January 17th? I think the price is leading up to the first contract which was $17,800.

Time to sell altcoins? Or this will follow

·

Altcoins will take off and rise with bTC - Dont go trading them for BTC now

·

Time to take profits on altcoins was yesterday. Although, it depends on where you bought in.

·

Bitcoin has had strong support on the 50 day EMA, and now that it has broken bullish through key support levels, we will likely indeed see Bitcoin take off from here.

·

Remember what happened to altcoins last time Bitcoin ripped from $7ks to $20k - altcoins had a long consolidation and accumulation period.

·

Pro traders will ride the waves and trade back and forth between BTC and alts. I will probably just go with the bigger trends though and scale back into alts when it is clear BTC has exhausted this bull phase.

Good post

Then I guess I will have my alts bleed lol. I don't get this market anymore. I really think it's people with big pockets are running some sort of software to go back and forth. Because now everytime btc goes up alts suffer. It just seems like same people manipulating the market. In the end everything will be up but alts suffer bad now when btc goes up. Much worse that they used to. When btc goes up now it really negates all the TA on alts it seems.

·

totally agree, just glad I got in early enough that my profits wont bleed.

·

Part of it has to do with it being a self-fulfilling prophecy. It's happened so frequently like clockwork that the moment it looks like BTC is about to make a move traders will ditch their alts to avoid being down 20-30% in BTC. This ends up triggering stop losses on everyone, bringing alts down even further, and since much of trading is down with bots this is a cascade effect that happens simultaneously.

Congratulations @haejin!
Your post was mentioned in the hit parade in the following categories:

  • Upvotes - Ranked 8 with 645 upvotes
  • Pending payout - Ranked 8 with $ 724,67

Moon mission scheduled to happen early!