Bitcoin (BTC) Morning Update: Landing Zones

in bitcoin •  2 years ago 

SUMMARY

Bitcoin (BTC) overnight price action is adhereing to carving out the subwaves of blue wave (3). While there is a current bounce, the frenzied capitulation phase could be taking a breather. Once blue wave 3 completes, a larger bounce is expected to ensue. I personally don't try and trade these bounces...it's too much of day trading. And such never works consistently.

I've drawn out the 1.62 x blue wave 1 length using vertical lines. This would be the first level projection for blue wave 3 in an alternate count with a second landing zone. From a Fibonacci standpoint, this price distance measurement fits well. Recall that wave lengths are always measure in price distance, never in time distance. This way, wave 2 could take alot longer than wave 1 in time, but remains much shorter in price. Confusing wave length with time is a common Elliott Wave newbie mistake.

Here is the bullish alternate count where the five waves down for red wave C could be complete. If so, it could look like this as if blue wave 1 was extended. However, this would not be my primary count, just a second alternate but still good to keep in the awareness zone.

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.

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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Hi @haejin, do you know why or can you ask @ranchorelaxo why he flagged this post?

https://steemit.com/witness-category/@jasonshick/meet-our-witnesses-netuoso

i sold my bitcoin at 9500, i saw it was going down and u mention it going to 8k but after few hours bitcoin spikes, and i lost money , any how thanks

  ·  2 years ago (edited)

Translation: btc went down. I saw this and became fearful of taking a loss. I searched for justification of my fears. I found a Haejin post. Haejin post said 8k was possible. I sold at 9500 maybe assuming I could get 18% more btc this way! Oh dear, it went up, but its not my fault, I sold, but definitely not my fault.

@haejin is not a fucking magic seer and I do not know if the TA is bullshit or not, FWIW I have used a few tips to place bets on several crypto that have been successful, using his tips along with a lot of dd I do myself. Hell, its even fun just to see if something I hold pops up on one of his posts! (this is the important bit) HOWEVER: EVEN IF I HAD A TOTAL LOSS with coins BASED ENTIRELY OFF @haejin tips I WOULD NOT EVER CONSIDER BLAMING HIM FOR MY ACTIONS... are you kidding me?

Take some responsibility of your own actions like a fucking adult.

My apologies for the maybe not so subtle attack, it does suck seeing your shit go down and I wish everyone the best of luck as a general rule, but a cool thing about crypto is its all about being the sole person accountable for your own money, including why/how/when/where you buy/sell/trade it.

tbh if you still have the cash there is a non trivial chance we see 8k and you can buy back in.

*edited a word

🤗postingan yg begitu bagus

? Are you blaming him?

  ·  2 years ago Reveal Comment

This drama is so silly... I can't even..

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Hi Transisto, I know you are a very reasonable Steemians.
Can you do something to solve issue with racist laden flag war?

If you truly review this blog, they have helped a lot of people. Which other blog gets 30k plus views? At times 10k on the first hour? The thousands of new steemit users this blog has brought. I've checked all of this blog's DTube posts and there are so many who get more payouts than Haejin per post. But their viewers are not even 1/10 of Haejin's.

I think Steemit whales like you should help Steemit Super Stars because such talent and attraction to Steemit he stands for is of value for the community. There aren't that many Super Stars in steemit and without help, they can go elsewhere.

Can you kindly help in any way?

Thanks

  ·  2 years ago Reveal Comment

Market is dropping hard. People are going to rant cause they loss maybe half their previous profit. What to do? Keep learning about wave patterns and TA. One day we will be better. Trading is like this.

Yup, and for anyone who doesn't want to learn a lot about technical analysis, just buy after crashes and HODL!

There’s just too much to learn. I’m already addicted though.

I think the moon is in the other direction!

HODL HODL HODL !!!

lol.jpg

I'm on the same page here, been preparing to buy in now, and lower. Set your buy levels guys and try to enjoy the ride. And for those of you that are stuck in other coins, I recently posted valuable updates on coins like:

BTC, ADA, BTS, EMC2, ETC, GNT, SBD, STEEM, XVG

https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-ada-bts-emc2-etc-gnt-sbd-steem-xvg

ada.png

  ·  2 years ago Reveal Comment

Man I don't know if you don't have nothing to do but you better get a life and stop disrespecting Mr.Lee. Go somewhere else

Unfortunately the downside of Steemit... Hope it will be fixed soon

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great pic) this is my answer to you enjoy)))

Great work. Had to laugh a lot...

Lol Hilarious , I am saving this on my blog . run out of fiat , maxing credit Lmao !

  ·  2 years ago Reveal Comment

Hacksaw Ridge this time right...

  ·  2 years ago Reveal Comment

hahahahahah lmfao

  ·  2 years ago Reveal Comment

Maybe we will keep hodlin until zero if this keeps going 😂

  ·  2 years ago Reveal Comment
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Get a life dude, You are a prime example of internet troll. piss off

Have anyone reported this Ashle already ?

  ·  2 years ago Reveal Comment

Can you please stop??!!
You are acting ridiculous and it is annoying people here who are interested in Haejin's analyses.
Best regards from the Netherlands

  ·  2 years ago Reveal Comment

I don't get it.. is this the racist comments? Are you for or against the blog? Are you saying he is unworthy of haejins response or that haejin is too lazy to repond?? so confusing...

  ·  2 years ago Reveal Comment

It's incredibly selfish to be down voting these posts at a time when the market is falling and people need Haejin's posts for reassurance.

That's what this platform is. A selfish money printing factory for abusers. (and CEOs)

Abuse 3.png

Ned Self Vote 6k.png

  ·  2 years ago Reveal Comment

HODL!!! AND BTFD!!!

  ·  2 years ago Reveal Comment

Time to flush you down the closet, please don't trouble community who are seriously looking for some updates!

Getting ready to buy around 8-9k :)

  ·  2 years ago Reveal Comment
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Hey Kim I see you bought thousands of Steem. What exactly is your strategy?

in case anyone is sick of the spam by @kimjongpoo, dont forget you can simply mute a person.

upvoted for visibility

  ·  2 years ago Reveal Comment

thats what I'm talking about, right😊 but thanks for the guide 😉

  ·  2 years ago Reveal Comment

well yes, but if muting is to difficult then the problem might be found in the user..;-)

also no need to go to the page to mute, simply click on the name right in the comment section and a popup appears where you can select mute #LIFEHACK

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seriously?

Could you verify it was you that reached out to me on steemit.chat?

Confirmed.

  ·  2 years ago Reveal Comment

It is great news if the BTC price gets below $10000 AUD

  ·  2 years ago Reveal Comment

cue kimjongpoo

  ·  2 years ago Reveal Comment

Thanks to this man, people earned. He taught us a lot. Look at how many people support him. He has 17,000 subscribers. I registered for myself, only because of him. Because on the Internet you rarely meet, a specialist who understands the wave analysis, and still gives his knowledge to other people. We learned a lot from him. haejin do not pay any attention to these people are just jealous of you, they do not know how to make money. Hanging - this is the vice of people who have not achieved anything in their life, even write an elementary blog, so people were interested. Do not leave your people write, we are waiting for your articles every day. We are with you and believe in you!

Благодаря этому человеку люди заработали. Он многому научил нас.Посмотрите сколько людей его поддерживают. У него 17000 подписчиков. Я сама зарегистрировалась в стеемит, только из-за него. Потому что в интернете редко встретишь, специалиста который разбирается в волновом анализе, да и еще дает свои знания другим людям. Мы многому у него научились. haejin не обращайте ни на кого внимания эти люди просто завидуют Вам, они не умеют зарабатывать деньги. Завесь - это порок людей которые не достигли в своей жизни не чего, даже написать элементарный блог, чтоб людям было интересно Не оставляйте своих людей пишите, мы каждый день ждем ваших статей. Мы с Вами и верим в Вас!

  ·  2 years ago Reveal Comment
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https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction.
Please check my tradingview and steemit blog.

Just Hold and enjoy the long term ride, we have faced this situation a ton of times and if you are new here please take suggestions from someone experienced and JUST HOLD

This means alot i will keep buy more around 8000 price range, waiting for it go even lower ;)

  ·  2 years ago Reveal Comment

U5dr4UMPwdP7iq2izJwMF3ZXnYnAH4Y.gif
Good morning

@haejin Haha glad to see you revise your target told you it'll go below 7500$ ^^ https://steemit.com/bitcoin/@tatchcapital/tatch-trading-analysis-btc-so-btc-dipped-as-expected-and-it-ain-t-over-yet
Anyway good post, keep it up ! Also you should do something regarding Gulden (NLG) really good coins with an interesting POW/POS mixed features incoming...

Mister Haejin, I am sensing a drop to 5900-6700; do you believe that possible? What do you think the future of btc holds this year?; do you think it will it recover to 15k in february-march? I read that this is a manipulated dump; i believe banks are getting ready to invest into crypto (why would they pay top dollar,better crash the market) can I have your opinion om the subject? Do you think another coin will replace Btc? And if yes, which coin?
I believe the market is being manipulated; the futures contracts expire in 3 hours; bitconnect, the ponzi scheme, added insult to injury by clossing and gave the authorities the motive to regulate crypto and further bash bitcoin. Please share your thoughts!

One of my charts has a gap around the $6500 USD (Red Cross) level from back in November. Charts love to close gaps and this might be no exception. Same chart also has another gap at around $14350 usd (Green Cross) so if the rule holds then it should climb back up to close it after closing the lower gap first...or something like that. I tried to find the charting tool that Haejin uses so I could take a closer look but had no luck so I'll just post my chart instead. :) Would like to know if other charts have those gaps on them too.

https://www.mql5.com/en/charts/8181063/btcusd-d1-first-prudential-markets

Actually, the whales who are manipulating the markets are trying to push the price up. The steep correction is just people taking profit, which causes a dip that makes people panic sell. What goes up has to go down.
https://steemit.com/bitcoin/@philakonecrypto/bitcoin-s-hidden-wall-holds-invisibly-strong-see-millions-of-dollars-of-btc-dumped-with-a-wall-holding

Thanks for the link. Just to clarify, are you saying the price is being propped up until the whale gets his fill and then he'll pull the props and let it go down even more?

The whales were trying to prop up the price, but they were unable too. The selling pressure was just too strong. Once the whales were gone, there was nothing to stop retail investors from panic selling and causing a massive dump.

Gotcha. So bit of a dead cat bounce today followed by some more correction?

Not necessarily. It just meant that if Bitcoin went broke below the whale buy wall 12800, Bitcoin was going to have a bloodbath, which it did.

I'm just doing an analysis of the past.

Gracias por la información

I been tellin people look at bitcoin chart the last 4 years, it has s little more dip left in it before rising again!

I called this correction since Dec 22. Haejin is finally accurate with his Elliott counts above, however the bottom may be in. 50/50 tossup as shown in this chart. More context in article.

https://steemit.com/bitcoin/@bodaggin/i-correctly-predicted-the-btc-crash-so-where-to-next

Please do another update. I want to know what is your opinion as the BTC stands now. Currently is $11,200 :D

Haejin could you please analyse the coin market cap graph? Also please pay attention to the same period for years before when it was new lunar year?Thanks!

@HAEJIN thanks!!

I look at the current situation as a great time for buying and gaining when this current dip ends

jeez whats with the crazy trolling posts, awesome blog haejin!

Good, finally realistic predicion!

SELL YOUR CAR AND BUY

2018-01-17 23_31_17-11,113 (BTC_USD) Bitfinex - Trading.png

  ·  2 years ago Reveal Comment

Great job, helping me to keep my nerve

  ·  2 years ago Reveal Comment

Like Seriously It's time to opt out of crypto's and opt into fiat.

  ·  2 years ago Reveal Comment

👍🏻👍🏻👍🏻

  ·  2 years ago Reveal Comment

Reaaly Amazig
Love You

  ·  2 years ago Reveal Comment

Just a healthy correction, yes master. You have told to your followers for weeks. Hahahahaha. Alt coins are going to the moon, hahahahahah. Phasic and non phasic. Hahahahaha. Fucking garbage what you give to yours followers.

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Seems like a good time to buy :))

  ·  2 years ago Reveal Comment

Why the hell are they flagging you?

  ·  2 years ago Reveal Comment

Neather will to you.

Good morning

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Thanks for this update. It was helpful..

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Bad times for crypto... Stay strong, it will recover soon! Thanks for the update @haejin

  ·  2 years ago Reveal Comment

Thanks. Exciting times ahead! 😃

  ·  2 years ago Reveal Comment

분석 잘 봤습니다. 한겨울 냉기를 녹여줄 봄의 훈풍이 한시라도 바삐 불어오길 바라는 마음이 가득합니다.

  ·  2 years ago Reveal Comment

just hold...

  ·  2 years ago Reveal Comment

It was a mindtrick!

  ·  2 years ago Reveal Comment

@haejin what if the blue number 2 wave was part of a triangle? (the triangle E wave would be what set off the crash impulse) Does that change anything?

  ·  2 years ago Reveal Comment

@haejin something like thisbtc 1.17.jpg

I hope there are no margin traders out there!

  ·  2 years ago Reveal Comment

Thank you for your reporting on BTC and TRX

  ·  2 years ago Reveal Comment

haejin back at it again with the daily garbage TA. "Oh, look overall market is going down, my TA for BTC today will go down too." Wouldn't surprise me if the overall market would rise tomorrow he would make a new TA stating BTC "is showing bullish signs". Stop abusing inexperienced people for upvotes, spreading this garbage TA, full of lies. You just gamble based on market movement. Flag him instead of spreading his virus TA even more with upvotes he doesn't deserve. The rewards you are seeing from his upvotes are from his whale friends, so don't go thinking this is a credible source based on his rewards. He doesn't want anything else than money, either from upvotes or donations. Why else would he post his wallet addresses on every single post. Like he doesn't earn enough already scamming people with "professional TA".

"You just gamble based on market movement."

Not sure if serious...or doesn't know what trading is?

Next level satire, bro/sefina.

  ·  2 years ago Reveal Comment

Today separates MEN from boys, I'm buying more altcoins
HODL

It doesnt make sense to buy Alts yet. You want to buy on last wave cause people then will be really panicking as they think the 4th waves is wall street stepping in. It will take nerve to wait til the 5th wave but that when prices will be rock bottom, bargain basement. Bitshares could be as low as 10-12cent.

Only a select few have Haejins awareness, most traders dont even believe in Technical Analysis which really blows my mind.

Ladder in on Bitcoin all the way... BIG TIME.

This is only my opinion, not fiancial advice.

  ·  2 years ago Reveal Comment

For so far wave 3 IMHO.... 4 and 5 to come... Let's do it and get it over with!

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Bitcoin Value Expected To Double in 2018
http://bit.ly/2mPt5k9

  ·  2 years ago Reveal Comment