STEEM Update: Bullish or Bearish? Take a look at my analysis.
I had made several posts declaring that the Cup and Handle pattern was just so beautiful on STEEM.
Now, with prices busting out of the handle as shown by this short time frame, I've added the EW counts. Wave iii is next so $4 is soon not impossible! Actually, probable!
NOTE: The caveat to any bullish posts is that BTC topping needs to be watched closely!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: 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.
Make it rain! The more the merrier! regards
thx for sharing
Can I just say ONE thing? ONE THING?!?! CAN I JUST SAY ONE THING!!!?????
It's the Calm Before the STEEM!
HAHAHAHA! I love your diagram! I really hope Steem shoots up as much as your enthusiasm - STEEM ON!!
Can i please resteem your diagram? I am actually in love with it! :D
*Edit - i just saw your post on your profile and i resteemed that instead!
Use anything you'd like! Learn Laugh Earn!
Hi Haejin!
Do you want to tell us why did you choose 4 USD as the top? How did you deduce this?
If you have the time, it would be much appreciated!
Hi @echinox, one thing I learnt very quickly about @haejin is there is never a top, calculate your profits you're happy with and exit out. He has mentioned 4 USD and if the market hits 4 USD then happy profits, if it hits 3 USD again happy profits.
Ladder in your buys and sells and move to the next one!
I'm totally new to this, I've lost every time I thought I can guess the top, trick is keep increasing your profits, and before you know it, you'll be on top for every trade!
Also keep an eye out for @scarlet7 - very very helpful, especially when Haejin can't answer every question.
Nice post! I also use Wave v to profit but usually of highe order so if v is sub Wave v of 5, I use Wave 5 to take profits. But it's up to you to make your own variation.
Steem Update:
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed
I can assure you this, it's not a guess....well I mean it is...but it's a very educated guess. He keeps things pretty simple on the charts. They can be pretty busy if you include all the angles and variations of possibilities. Although more directly to your question, he did say he would make a blog post about that to help people understand a little bit at some point.
I was proud of myself for getting this one right today, and I imagine it takes him much less time to deduce these data points than it takes me.
So here's a fractal pattern I noticed this morning with DGB at around 530am. So I went ahead and made my best count on the wave and tried to work in the fractal pattern that has been emerging in many coins....low and behold.....(right click and view to see full size)
And so with that information I was working off of, I also saw that it was very likely to fill in a Head and Shoulders pattern, and it all sort of made sense once I had it drawn out. I'll be darned, it hit exactly on every break and line. Crazy patterns.
Probably measuring with the Fibonacci extension tool.
Probably doesn't need it. I didn't, and I'm a rookie in comparison.
Yes, and rule of distances for waves.
Steem Update:
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed
He doesn't reply to any questions. That is too bad, he could build a much better following with a little interaction. I've been upvoting 1$ almost every post, should I continue? If someone votes me up and comments I always give the respect to at least reply and upvote their stuff.
Sorry for delay. I've posted responses above.
Thanks for the upvotes.
Steem Update, please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed
I use both Fib ratio and the fact that impulse is usually 0.75 to 1.5 of bottom of c to top of v
Steem Update:
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed
When I was just looking at the live chart, I was seeing the count having the very real possibility of being on the 4 right now, moving into an extended 5th. It would follow suit with other coins....and if it is, it could skyrocket for a minute.
thats on BTC chart btw
You think the top of wave iii will put us over $2.50? Good chart marking.
It should. Wave iii started.
Too bad this forecast was wrong.
I disagree. The cup and handle invalidates if price dips below the bottom of cup. Still live and kicking.
My forecast still active and valid:
Hi Haejin, is it finishing wave 2 still? Wave 3 did not start yet I assume since it is down.
Still in Wavee iii, ii has finished.
Here is the STEEM update, please use only to augment your due diligence.
