BITCOIN, LITECOIN, CRYPTOS: VERY IMPORTANT MESSAGE
Here is a comment from an astute follower to all new readers of my blog:
PLEASE, BACK READ and VIEW my VIDEO ANALYSIS. ESPECIALLY THE BIG PICTURE ONES. Otherwise, it becomes very dangerous to your coin wallets.
is this the right time to buy btc or should wait for more deep?
Please review my past three BTC video updates. The laddering can be made at any point in time.
Go Go Go @scarlet7 :)
hahaha, thanks @sanj
FOMO obviously kicks in but if we have already seen the bottom ($3000) of iv then they could prove to have been correctly called the bottom, but if iv retraces again and perhaps heads below $3000 then hopefully they will use the experience as a learning moment, but also be happy they they got in close to the bottom
That's why I leave the unfilled lower rung alone for now.
Good advice as always Haejin. My rungs got filled above $3000 but still have my runs going from $3000 down to $2600 which may get filled if we see another dip. The part I find difficult is knowing when we pass a point where these will not get filled in this wave so I should cancel them and put new ladders at the current price ? Any advice thanks
I dont think this is the bottom. The two biggest chinese exchanges just delayed the inevitable. That's why @haejin has lower rungs...
I would also add that if you sell because you think you got it wrong, it's only going to hurt more! The pattern will proceed, don't sell yourself off at a loss hoping for another low. If that happens, then great, you're already in for the rise. If not, then great, you're already in for the rise.
PATIENCE is invaluable here. But with that patience, carry a hair pin trigger to retrieve your loot when the time comes.
wish you said this 2-3 hours ago lol.... FML
First, forgive yourself or any losses and FOMO. Then start again.
If it makes you feel any better, I wish I watched the market last night and got in at better positions myself. I watch it all night most nights, but last night I had other obligations to take care of, and woke up to a bull!
Same happened to me. Usually at its bottom when I wake up. I think that might happen again tonight. Might be another sell off due to such a strong bounce form 200. Bounce from 200 was strong, I called on ceuptocompare downfall to 200. Order book was too big on 200. Right now profit taking is too lucrative in short term. Whales can easily push the price below 200 and buy more. That’s what makes me very iffy about this bounce. I feel like I am gonna wake up tomorrow to 220 or lower. Remember order book at 200 is filled so no one is going to buy if it starts falling again. Lot of FOMO going on right now and if you see the order book it’s very week. Which might lead to another dump. And the FOMO will kick in panic sells.
Dies it mean wave 5 tipy top will not go very far(<$4000)?
$7,000 to $9,000 is my call.
Sweet! As always thank you for your advice!
did we miss the dip??
meaning the wave 2 dip to 3300
It wont rise forever. Watch the volume and check. We will have a slight sell off soon. There was big support at 200 I called it yesterday not here but other places. Thats why the bounce was so strong. Now you will have some profit taking and some fomo and you can ladder your buy in. I think we might see another dip to 3300-3400. BTC has tried to break 3800 like 4 times now and failed. So it wont be going straight up in a line. I think he already laid out a scenario one more wave down after a large bump and then to the moon. Really depends on how bad that wave is.
Also, @haejin is it very likely/ probable that wave 2 bottom has finished at $3500 ish? instead of dropping to around 3300?? whats the likelihood of that?
Also, how come you didn't take profits at 3850? and then catch the BTC on the dip?? I dont get it. Is that just ot be safe? thats a 30% jump then you can buy back in and make the bigger spike afterwards.... does that make sense or is that not recommened / Risky?
I think we completed the a and b (red) waves and c is next:
is there a specific time frame that we should be expecting the drop to C? could it be within the next 24 hours? or most likely later?
I thought we kind of hit the bottom (3000) ...are we going back down to another correction before it goes up to wave 5. I thought Haejin wasn't sure at this time. I know he said it was possible but ,, Please fill me in with specifics I am curious. Have a Little dry powder left. Very very little ,I've been reading your posts and we think alike. Scary Ugh?
haejin..i wanted to get your opinion on an alternate count I have for BTC..If you zoom out on the 1 day the volume completly surpasses the volume of the previous moves..from what I've learned from EW..this means that this will be perhaps an extended wave 5 to your 7000-9000 level, or this may be wave 3 of 3 starting which will take us much much higher...since wave 3 is the strongest I'm paying attention very closely to how this proceeds but IMHO this may be wave 3 starting instead of wave 5...wanted to get your take on this ..thanks for sharing your counts..cheers
If you review my past analysis, I almost always show an extended 5th Waves. This is not like stocks that extend the 3rd. It's more similar to commodities which also tend to extend the fifth.
Another common occurrence in cryptos is the expanded flats which is a bit u common in stocks.
Much appreciated friend...here is another one of my alternate counts which looks to follow all of the EW rules...Wave 2 sideways ABC or WXY depending on analyst..and then a sharp wave 4 alternation. Might be we correct a little further and then make new lows...please let me know your thoughts on my photographs as well..cheers
It's a good count and valid. For EW, there are many ways to count to the same end. Your (A) could equal my first Wave IV potential stop (C?) of around $3,000 which we pretty much recently hit. Your (C) coincides with my second potential for the Wave IV bottom at around $2,000, labeled as (C??).
Here is my same count but in a log chart and is significant as it won't allow as many variations in EW counts and the price goes from BTC genesis. So the ABC could bring it to about $240.
Or this could be another count with Wave IV as an expanded flat which I'm noticing to be quite common in cryptos (unlike stocks). Wave 5s on daily are frequently extended but not so in sub daily charts. So if Wave V becomes extended in thsi log chart.....$27,000...why not? Let's see what happens.
Very cool stuff haejin..Thanks for responding..don't know too many other people on social media that follow and actually use EW..cheers friend
Haejin...I don't like the volume falling off from here and no follow through...It's starting to look corrective to me instead of a new trend...I'm thinking it may be an ABC with B now forming an extended flat which you said you see often..interesting..it's unfortunate because i was hoping that would be it for the downside, but we shall see my friend
It will be a correction. I posted an update.
Do you have any video coming up for ETH?
Just posted.
https://steemit.com/bitcoin/@haejin/ethereum-eth-update-can-you-see-this-bullish-pattern
I am respectfully annoyed by this warning. You assume children and/or the stupid are trading? Of course everyone is "fully aware of what they are doing"- whatever that means.
What's the reason to assume anyone would have 'emptied their account into their ladders' following these blogs? Laddering has been explained in great detail.
If anything, you should advice people to follow the instructions more closely, as they are terribly spot-on.
Some comments and questions from new readers/followers were indicative of blindly following and so I thought this would be a good time to post that.
Sorry steemitromney..if i offended you in any way, it wasn't my intentions..i was just collaborating with haejin just to see if his wave counts coincided with mine..that's all..it wasn't to portray an outcome that was 100% right..i certainly don't know what the market is going to do, but i try to navigate as best as i can..cheers
Yoo @shawnster not at all mate. I was referring to the statements made by scarlet. They seemed a bit hollow and overly righteous. One of the great things about the @heajin channel is that all contributions are to the point and without unrelated distraction. However, I typed too aggressively so its me who should apologize. Sorry. Love you guys.
Ok cool my friend..i must have misinterpreted the response..thanks for getting back to me sir....cheers