CONDENSATE (RAIN): Bullish in the Midst of a Correction

in #bitcoin4 years ago

SUMMARY

Can a coin rise in the midst of a correction? Yes, because each coin stands on its own with regards to drivers of sentiment. Yes, there is a uniformity of sentiment and the fact that Bitcoin is also the moon that moves the tides of the Cryptosphere. But, given how price is a reflection of sentiment, IF pattern and Elliott Waves display a bullish scenario, then such call is made.

Here is an example, RAIN/BTC. The corrective a,b,c waves are complete given how five subwaves of the red c wave can be identified. Recall that Technical Analysis does not output certainty but rather probability. Given how RAIN/BTC is beginning to rise; Elliott Waves and pattern show a target of 2,400 Satoshi. Should there be a lower low, then that would reset the impulse; but not necessarily the target as then it would be a different pathway but same destination.

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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Thanks, can you make an update on Bitcoin? I posted my thoughts on it in my recent post about Augur (REP):

https://steemit.com/bitcoin/@benkalashnikov/ardor-rep-analysis-update-70-potential-profit

Screen Shot 2018-01-18 at 23.47.14.png

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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What’s up with the poo emoji lols

haejin can you know any other ideas about charting?
i see only waves charts
i follow you and other guy @salahuddin2004
you are both good for me
@salahuddin2004 have different ideas of charting , but you are master i know, but please different charting idea?
now i am also follow one more guy matts he also have different charting.

7

All you say is just #buythefuckingdip.

Why talk too much and all this random lines???


This guy is talking about Bitcoin.
A lot of altcoins will meet 0 in 2018 like bitconnect.
No developers (only nice website!?!?!)--> no value --> shitcoin --> exitscam --> 0
teambernie.JPG

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Yeah shit worth $0.46....

Make it rain blockchain

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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CND is a good example of a coin that was moving against the overall market trend during the last pull back.

I will probably sing this song if your analysis goes spot on """Let it RAIN over me"" 😀

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Is that a Chuck Berry song?
I prefer Love Reign Over Me.

Purple, green or red rain?

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Would love to get people’s civilised opinion about this viewpoint. I especially beseech @haejin to please indicate what you feel as I believe there is a point which at least deserves the courtesy of being addressed.

The thing with elliot wave is that it’s correct as long as it’s correct. However, according to elliot wave everything will just keep going up because a correction is just a wave 2 or 4 of a larger trend.

You can keep on projecting larger and larger trends with no end. Any drops will just fall under a larger trend and will be projected to go up further after that.

However, this doesn’t reflect the real world unfortunately, as it ignores the reality that projects, stocks and assets can fail outright. If elliot wave was used on all Dotcom stock companies they should all be huge right now. The reality is things fail in the real world and this is fundamental. Elliot wave would have projected Bitconnect to keep rising and rising, and Haejin recently posted a projection that bitconnect was in wave 1 of a higher degree trend which would see it hitting all time highs. However, the fundamentals blew through that as bitconnect is now defunct and has been uncovered as a ponzi. It seems that sole reliance on elliott without fundamentals can blind people to reality.

In the long run what affects price is the fundamentals. Whether the project will stay afloat or not. And whether it will actually be something people want to use or not. The longer the timeframe, the more elliott waves are likely to fail as no one can predict events which would seriously fundamentally hurt any investment. For example, if there was a 3rd world war. The longer you project out, the more fundamental variables potentially affect price. Who’s to say there won’t be a catastrophe which destroys the internet or some fundamental change in the world order in the future? Im just using these as extreme examples obviously and not saying they’re likely in the near future but just illustrating that the further out we go, the less we are able to predict what will happen.

Elliott may be good for predicting price pathways in the short term, especially in a speculative market such as crypto, which is fuelled largely by sentiment. However, I feel it may be slightly irresponsible when Haejin makes extremely long term projections like the projection of Bitshares to hit $352 on a logarithmic scale and pushing it to his followers. It seems very clickbaity to give out such long term projections because it’s clear they have extremely reduced accuracy for the long term and I think most people can understand that in the long term fundamentals do in fact matter.

For further clarity let me use the example of a theoretical ball being throw which never stops rolling. I can predict with almost certainty what will happen to the ball’s pathway as it leaves my hand and in the first 1m of it’s travel. I can predict with good likelihood even what will happen to it 20m down the track. But as it travels further, I become less and less able to predict it’s pathway. The higher the likelihood of something coming along unexpectedly to change it’s course. What if a strong breeze suddenly starts and blows it off course or a dog comes over and takes it away.

These are just my musings and logical reasonings. Also note I’ve used neutral language such as “it seems” and “may”. Im not absolutely asserting or accusing anyone of anything. Please dont come with comments like if you don’t like it then just leave which add nothing to a discussion. Because i can equally say the same to you. If you dont like my comment you have the choice to ignore it. But that doesnt mean i should not be able to express a certain viewpoint does it? This is after all not a dictatorship, I hope.

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Is a problem of high and low conflict between the two extremes in both cases we are with them, the love of adventure thanks

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Haejin fans, please see my elliot wave analysis of Tron TRX. I have high accuracy rate and perform free educational TA.
https://steemit.com/tron/@philakonecrypto/tron-trx-jan-18-afternoon-update-consolidation-after-massive-uptrend

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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I believe this chart looks bullish because of a possible cup and handle pattern being formed. This is great to see that cryptos are taking a jump in price despite the early correction phase this month.

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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For anyone interested, we are a 1k+ pump group that is growing at an increasingly fast pace. The early members will have an advantage in getting coin info before the pump! This is the discord if you're interested in pumping coins: https://discord.gg/4uJECJU

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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I was in this awhile ago. They are still working on their whitepaper (they litereally had nothing a couple weeks ago) and they don't keep people up to date (a month spanned without any info or replying to an email). The staking rates are also insane so the amount of coins constantly being added to circulation is very high. proceed with caution.

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Nice, yet another promising TA... How should I make this one... Hmm the total market is moving upwards today so my TA must definitely be showing bullish signs... Hmm rain looks like a coin no-one cares about so I'll get my upvotes regardless of whether it makes sense or not... Hmm let me write some fancy lines about my "professional" TA... Hmm still need a chart though... Hmm no accurate patterns can be found on this one though... hmm easy fix, I'll just zoom out on the chart, put some random Elliot wave on the last part of the chart and boom this post is ready to make me some money from newcomers who will fall for this without doubting whether it's credible, they all love charts that indicate bullish signs anyway. Oh, almost forgot my copy-paste section at the end so people can send me more money for my overpriced courses and donate me even more. It's not like I care about my audience or content anyways.

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Is this a joke? do people only read his post or just automatically up vote.

BE CAREFUL. They are still working on whitepaper (it's taken them months) and they really don't have anything besides a website and a twitter account with barely any activity.

Also, this coin staking rate is insane so the rising supply on the coin will effect its price. I actually liked the idea when it was first announced but they have done jack with the project since then.

But of course this post will go unnoticed and probably flagged even though it provides more information

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
image

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
image

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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So what you are triyn to say it that it will rain these days? xd

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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Who cares about a coin now. We're on a very critical point of Bitcoin.
Is it going to 14.000 or is i gonna go down!

People with diversified portfolios care about other coins...And don’t care as much during healthy dips in a market

Bitcoin went from 14.365,-- to 9.500,-- in two days........................and you call that a healthy correction? It now even is on it's way to 7.500,--. That's 50% off! Do the math......

It went up from 5,000 without any corrections to all time highs of 20,000. Yes this is a healthy correction. It cant continue to grow without corrections. It hurts for all the new people that got in bitcoin at all time highs

Just be careful with this one. They are still working on whitepaper and they really don't have anything besides a website and twitter account. Also, this coin staking rate is insane

No, no, don't look at the story's. Buy Bitconnect. And he really did mention them! Oké, with a warning, but still........

well your damned if you try to help out your damned if you dont. No matter what you get flagged and Haejin doesnt even respond to helpful input or up vote. This platform has become just a giant pissing match

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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You can't tell right now.
Sleep in harmony with the universe now.

Dear @haejin and followers, your posts are so easy to make that I have made 2, a dogecoin TA and a Theresa May TA

Where are my $500 upvotes that you feel you deserve? I deserve them too since I have just as much of a potential to make people money.

MAY is projected to rise 132%
Dogecoin is projected to rise another 131%

If my posts don't deserve $500 then neither do yours. Decline payout

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
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@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
image

Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 257.66 SBD, based on the pending payout at the time the data was extracted.

If you do not wish to receive these messages in future, reply with the word "stop".

this poo definitely stinky! smell that? its bullshit.
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and he only votes on himself!! not you ignorant followers!!
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haejin TA is like this pile of poo!!
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and he only votes on himself!! not you ignorant followers!!
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haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
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Congratulations @haejin, this post is the fifth most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 395 and the total pending payments to posts in this category was $11357.46. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

this poo definitely stinky! smell that? its bullshit.
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

this poo definitely stinky! smell that? its bullshit.
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

this poo definitely stinky! smell that? its bullshit.
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
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haejin TA is like this pile of poo!!
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muchas gracias por publicar tus análisis

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
image

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
image

@kimjongpoo is so sorry! I did not mean to offend poo! Doo doo forgive me??
image

Hola de nuevo, ¿se puede saber por que razón me has echo FLAG?. Mi comentario es de buena intención, no lo entiendo, Quedo a la espera de tus noticias, saludos

this poo definitely stinky! smell that? its bullshit.
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

and he only votes on himself!! not you ignorant followers!!
image
image

haejin TA is like this pile of poo!!
image

Hi @Haejin!!!

Could you do an analysis for Voxels (VOX)?

Thanks a lot for your efforts!!!

P. S. : Do not listen to the trolls and their sad envy.

this poo definitely stinky! smell that? its bullshit.
image

and he only votes on himself!! not you ignorant followers!!
image
image

and he only votes on himself!! not you ignorant followers!!
image
image

and he only votes on himself!! not you ignorant followers!!
image
image