Bitcoin (BTC) Morning Update: Fractal #3 is Spotted!! Check out the this chart!steemCreated with Sketch.

in #bitcoin5 years ago (edited)


Bitcoin (BTC) overnight price action seems to be completing a third fractal bull flag as shown below. Note the similarity to prior two flags. So, if Fractal #3 is about 2.5x the size of the second fractal; then we can potentially measure the price rise by extending Fractal #2s rise by 2.5. The chart below shows that with the green vertical lines. Not surprisingly, that coincides pretty well with the $20,467 level and I think if that's correct, it'll be an awesome event! I have to say that Cryptos are truly showing price patterns that are the truest reflection of sentiment. Unlike the stock market where excessive manipulations can bend or stretch the waves; not so in cryptos. No PPT or banks here to front run the everyday investors!

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 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.**


Haejin your years of study and practise is paying off, true semtiment is being showed. You really will go down in the history books like Edwards and Magee.

Them two men lived in a time where true sentiment was shown, now you can see first hand that the masters where spot on.

Imagine a chat with them men, cryptos would be a joy to behold for them.

God bless you my dear friend. You are a master. I wish you, family and friends, success happiness and health.

If you make me a millionaire, i will have to meet you in person, to personally thank you, its that simple.

His insights are much appreciated. I definitely make it a point to look for his posts daily!

@haejin is a TA CGI...think about that!

Thanks for you insight on BTC's future. I don't believe it's got much more room to run, but I appreciate your research and reading of the charts!

It's hard to imagine BTC going higher, but who'd have ever thought it would get this far!

Upvoted and resteemed. Thanks Haejin.

I totally agree that looks to be the next high, very soon

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

hey haejin, made a steem account finally to be able to support you with votes and resteems, bought 30 steem as well and transferred them to steem power. :) thank you so much! take all the votes you can hodl!

very interesting post, thank you.
will be interesting to see if your prediction is as accurate as always.

I don't anticipate price moving the way that you do in this post..

I expect a rotation lower to the 4x1 Gann support unless price starts moving upwards past the 8x1 Gann resistance very soon

How about other coins like LBC, DOGE, VERGE, MANA, RIPPLE holding on to it in this case or better sell it for BTC before the rising? i would sell it, i should sold it 2 days ago, what is safest now? still got btc profit, not much like 2 days ago but still good. Sell for BTC?! Thanks @haejin

take at easy :)


maybe i am to stupid, i dont get why ;) when the price of btc is rising, i guess there are some people just buying back into bitcoin what makes alt coins suffer. after btc finished his rising, they will start take profit into altcoins, so they will rise and btc will drop a little.
so wouldnt it be good to be in btc at the rise, when it reaches 20.000 or more, buy back the holding positions of the alts and make a nice amount in alts? where is the risk? i got just like 2 month experience in cryptos so i still needto learn a lot!

earlier this has been the case indeed. what you now see more and more is that at least some of the alts are actually breaking out of this phasic cycle.

I wouldnt recommend to drain all your alts but rather to adjust your portfolio ratio which you might (and should) have defined (10-20% btc and so on). These adjustemts / redistributions should be done monthly

ah ok, thanks, now i understand more what haejin means with altcoins going nonphasic. so i will keep my stock as it is. maybe just reducing positions like Ripple. i got my portfolio splitted in a trade and a long term hodl portfolio, so the longtherm i dont change anything, the short term is just for trading where i try to make btc profit, was at 30% increase until it dropped again yesterday.... i was thinking about selling all for btc and take btc profit, than get back into new positions after rise, scared of losses, guess this are the panic emotions i should keep away, so i will watch a movie, smoke and sleep ;) thanks

I completely agree. Please consider holding some coins that will be around in 5 years. You will do extraordinarily well holding. Then do some trading with additional funds.

Good advice. Thanks. I already put part of my alts back to BTC. Made some stop loss orders on others. I remember what BTC rally did in December. Now I feel better prepared.

Thanks again!

good advice thanks for the advice

The posts you write are very useful for steemit users and bitcoin owners

Hey there! Thank you for sharing your knowledge with us! We should all buy you at least few beers. Cheers!

Thank you for update and video! No matter how short or long they are I always learn something :)

Awesome. I will bet your analysis.

Few years back I had no knowledge of crytpos when BTC was in development & initial stages also LTC was forked. I was too busy to listen to these things, I think I spend a significant portion of my time playing GTA, NFS and trying to crack an entrance exam to get admission to a college, actually I am doing homework everyday now and trying to get as much knowledge that I can grab in cryptos, I think it is still not late. I wish you all massive profits!

Everyday I learn something new from you Haejin. I still don't have the confidence to use what I have learned from the tutorials as it's all new, but I will in time, until then I'll keep using your advise as my accounts keep going up. Please think about offering a online class, I would be more then willing to pay. If not the free technical analysis you provide works great. Just not sure how long you will continue to do this. Thank you

I've found it helps to practice and apply what you've learned by taking positions based off your analysis . This way you have more incentive to learn and gain experience, all in real time!

Use very small amounts and try it out, the hardest part is staying disciplined. Also, adjusting analysis accordingly when things don't go EXACTLY how you saw it (which is often, lol). Good luck!

@heajin i understand that you want to have more meaningful conversations with those who read your blog. So i have gone ahead and tried to create my own elliot waves. Here is what i have:

Screen Shot 2018-01-06 at 14.02.22.png

I would put your 1 where 3 is and 2 where 4 is and thus 3 isn't even done yet

maybe like this?

This is an abc correction. C needs to be lower than A. Y USB lower than W

Thanks for the update, it's great to see BTC moving again! One question; what do you think about the total crypto market cap as shown here?

If you check the charts I could apply EW to it and would come to the conclusion that we are building Wave 5 and a major total market correction is next. I'm really interested on hearing your thoughts on this @haejin

I don’t agree it’s going to be $20,467

Good to see that your spending so much attention on BTC and keep analysing this so precise...Thanks @haejin !

So, in other words, buckle up! Thanks Haejin

Siacoin (SC) is exploding upward!

Much obliged to you for imparting your insight to us.
Upvoted and resteemed

Hello @haejin

Which Fibonacci Indicator do you use in Tradingview?


This is why you HODL and buy at dips. You will be greatly rewarded for your patience.

You always update us with your good predictions. Looking forward for more. Great work

Mr. Ralph Elliot Nelson would be proud.

Amen to that brotha

It's a good time for BTC that's for sure! Glad I bought back in on the break from $15.5k :-)

God bless you my dear friend. You are a master. I wish you, family and friends, success happiness and health.

If you make me a millionaire, i will have to meet you in person, to personally thank you, its that simple. :D

Good morning! I miss the alternate counts, as those are the ones that help me learn the most. Oh well.

Edit** Perhaps an alternate is a retracement to the .618 of larger wave one.. which is just under 14k. Doesn't feel likely yet.

Alternative count?

alternative count

Alternate count:

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

Doomsday alternative?

That would be awesome, I mean horrible (but you know what I mean).

I know exactly what you mean!

I see that is not all that far off from Haejin's update doomsday possibility. How is that projected?

I just looked for a large wave count over a bigger time frame and used the basic ABC retracement guidelines which puts the correction ending around the prior (my assumed) leg 4 range, which is between $5K-8K or thereabouts. I don't see BTC getting to $5K very easily but who knows? I do know I will be buying a lot of BTC if that is the case, where as I was scared to buy $1,200 BTC when I first got into crypto, haha!

Will Alt Coins be slaughtered once more?

wow, btc geyser is coming!

thank you much, i got some steem power, vote~~

Hello, haejin. If the bitcoin price will go up... will alt coins be slaughtered??

Great read as always. Thanks so much for the post! Recently got my steemit account after seeing your posts and just finished writing my first post on TRON(TRX)

Again your awesome man thanks for the motivation for me to start! And any comments from you on my post would be amazing.

Welcome to Steemit. Be aware that promoting your posts in other people’s posts is heavily frowned upon.

Your every post is helpful for us..

Upvoted and resteemed

@haejin Can we have analysis of kin coin. Currently it ranks 40 according to market cap.

Thanks for the information

Thank you for the BTC update. Upvoted and Resteemed!

Looking forward to it!

Hey, Haejin, happy New Year!

Does anyone think that the traffic limitations of major exchanges such as Bittrex, Binance, Bitfinex, Coinbase, etc. are going to have a major impact on trends we're seeing or is it all factored in?

Most of the exchanges I've listed haven't allowed new users for almost a month! Coinbase has been over-loaded since BTC hit 10K it seems like. I see firsthand how (at least in the short term) it can deter once interested friends away because of these hindrances.

We need new money to enter and it appears to me that there is some major blockage happening, at the moment at least.

Thank you so much for sharing the trends and analysis. Have a good night!

Very nice post! I've just started following you and I'm already very optmist!! Thanks for sharing the knowledge!

Power to the People!

It looks like nexus NXS has completed the cup on the cup and handle. May I request an update of what to expect from the handle and breakout?

Well still holding my alts. At this rate I guess no need to do TA on alts. If btc goes vertical like you said it is. Almost all alt TAs will be negated. Lol. Also I am surprised you said it's all sentiment in crypto and no manipulation. I mean when across the board alts suffer and bitcoin goes up. I doubt the everyone decides hey let's swap to bitcoin now off of sudden. I can bet my 2 cents that it's major money moving back and forth. Since it happens in exact manner.

Truly appreciate the constant effort put towards all this TA!

Good morning Haejin! Thanks for the analysis!

Could you please do an update on Monaco (MCO) please?

For those wanting to study elliot waves you can get a free pdf copy of The Elliott Wave Principle - Frost and Prechter as recommended by Haejin at:

You need to subcribe to the website but they don't pressurise you in to buying anything.

What are your thoughts on alt coins? They still seem to be out of phase with BTC. They bleed every time BTC pumps.

Thank you! This is valuable information to steemeans (steemers or steemians).

Hello Steemians!

I currently hold about 35% of my portfolio in STEEM (which is the highest % of all my coins).

I am still confused with all these SBD, SD, SP etc. I don't know if I should convert my STEEM coins. I have no intention in blogging however since I have joined I did a little bit of curating ( if you can call it that).

Could someone please give me links to some really good explanation? I have tried reading about it but I still can't wrap my mind around it. ( feeling stupid).

I would also appreciate some rly short breakdowns on why you think I should convert it or not.


Best thing IMHO to do is "Power Up" using said Steem. That way you can have upvoting power and earn more Steem and Steem Dollars (SBD). Since you own a good percentage of your holdings in STeem, it seems you will hold on to Steem for a while. That's a smart investment IMO. Once the general population of social media realizes you can make money blogging on Steemit, convert SBD to BTC and make more money, Steem and all other related coin (BTS, EOS, etc.) will go vertical in price and you will make more money. But for now, the short answer advice is to "Power Up" and use your voice on Steemit to earn SBD. Hope this helps a little (I wish someone told me this when I joined in November).

Here are the basic things you have to understand:

  • STEEM is the tradable token on STEEM blockchain
  • When you transfer it to Steemit account, it is available for using right away
  • When you use the Power Up option, it means that you want to put those tokens into Steemit (Bank) account and lock them down for 13 weeks (this time is needed to get the money back in portions per week when you want to sell your STEEM). And in exchange you get STEEM Power (SP) shares or vests of Steemit network. More STEEM you have, more SP you have. You votes are more valuable and as a result you get bigger return of your votes.
  • The way to understand what is more valuable, SBD was introduced, so you can see the value of your votes in USD equivalent or $ sign.

The thing that in market SDB costs more than STEEM is just a speculative nonsense.

I invested $7.5k few months ago, Powered UP and now got an account with vote worth of $4. Nice? And now STEEM is upand account is worth ~$50k. Even better. But I'm fine with it. I can wait a year or two to get it $500k. Even better.

You have your STEEM locked on Steemit account and play with your strong votes to support the best authors you like. As a result your STEEM is still with you, get few bucks back and support those who are in need.


Thanks a lot for your time.

As you can imagine I have a lot of trust in Steemit. My only concern with doing that however is that in the event of a crypto market crash (for god knows what reasons) by the time steemians will have a chance to get out there is a high probability your position will be worth 90+ % less.

Am I mistaken in saying that?

In case of global crypto crash, there woun't be any survivors. Only those that have cashed out before the crash. If you are asking those questions then you are not the one who survives. Don't dream. 😉

I was not a strong believer in Steemit and still am not. However, it did not stop me from playing around and locking down my money in it. During the last war on Steemit, I started to power down, to get out. But we survived and I'm back again in game. 🙏

You have to decide on what you want from this crypto. Pump-and-dump, then stay on exchange. Wait for huge profit, then probably it is worth trying and locking down for a while. STEEM was waiting about a year for this growth in price and it is not going to "crash" because of some mystical things. Year just started, STEEM price is up and every vote is worth $0.01, that is huge growth. People are just starting to enjoy the first big profits and there are no signs of not continuing that way. At least for this year. These are my hopes.

Another thing. Those $7.5k are profit from crypto trading. And I invested them here because of @haejin tutorials, to support his growth. This is not solely my money, but profits from "air". If I got them because of Steemit, then I should get something back to it.

Crypto world is wild wild west. Only the strongest survives. I want to be one of them. 🤑

Thanks again.

After "sleeping on it" I have decided to wait a bit until I get some profits from my STEEM investment and use those profits to buy SP. I think it won't take long before we get another x2 increase.

This is not based on FUD but rather because I can use that amount after I take the profits to multiply in trading faster ( while steem slowly goes up over the year) and still invest the profits back into steem.

Looking forward to BTC breaking 20,000! Been a fun ride, many thanks @haejin

Please Review Breakout Coin(BRK). Fractals look very promising.

Thank you for TA.
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