IMPORTANT Coin Updates 2 (BTC, SBD, GNT, STEEM, XVG)

benkalashnikov (60) in bitcoin • 7 years ago

Is The Blood Bath Over Yet? (Part 2)

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So after todays price action, my take is that we've entered the 4th wave of an ABC correction, meaning we will see a little rise in price. This is the point where people start hoping again, only to be fooled, left with shame and despair while price starts dropping again. It's a risky move but there's some merit to sell off a small percentage of your BTC at this point if you can handle the risk of being left out if the price rises instead.

I see that some alt coins have recovered a little during this correction pause, but I would be very surprised if todays gains won't be smashed again when Bitcoin drops. I've set some low buy orders on coins I believe in long term and some have been bought. Let's see if we can scoop up some cheap coins after the next drop. I'm also ready with cash to buy Bitcoin at: $4 000 to $9 000. Don't think it will drop that low but you never know.

Are there any coins that you want me to analyze? It's a difficult spot we're in and I hope I can share my thoughts and help you in any way. In return I'd be extremely happy and thankful to get an up vote or resteem. I see that my Twitter and Steemit followers are growing everyday and I will show my gratitude by rolling out an idea I've been thinking about as soon as this correction is over.

Trade safe and I wish you major gains!

Follow me on Twitter and turn on notifications to get instant updates at http://www.twitter.com/benkalashnikov

Bitcoin Update

Screen Shot 2018-01-17 at 21.13.25.png

Steem Dollars (SBD)

Looking like we're starting a little uptrend in the D wave. Expecting lower lows after that. I still have a target but wouldn't make any moves right now, would wait for another dip. If you wanna play it safe, set levels from here down to end of E wave.

Screen Shot 2018-01-17 at 21.43.12.png

Golem (GNT)

Same as above. Waiting for E wave to kick in before buying in.

Screen Shot 2018-01-17 at 21.48.39.png

Steem(STEEM)

Soon entering the last wave within the C wave. Setting buy levels as soon as it starts dipping substantially.

Screen Shot 2018-01-17 at 21.55.27.png

Verge (XVG)

Soon entering the last correction wave. Won't be fooled by this small impulse wave we're in right now.

Screen Shot 2018-01-17 at 22.01.02.png

Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.

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7 years ago by benkalashnikov (60)

$17.16

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masterthematrix (60) · 7 years ago

Very good charts @benkalashnikov, I agree that we will see the current correction will go on for a while. I also just recently analysed the logarithmic chart of Bitcoin from 2013-2018. If you like to give me a feedback I would appreciate it.
https://steemit.com/bitcoin/@masterthematrix/bitcoin-when-do-the-big-fish-eat-the-little-ones-big-picture-analysis-logarithmic-chart-from-2013-2018

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2 votes

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benkalashnikov (60) · 7 years ago

Followed and commented on it. Great post sir!

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1 vote

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umairkhalid (14) · 7 years ago

The future of cryptocurrency is bright and cryptocurrencies are trending all over the world as the internet payments have been accepted by many companies. Cryptocurrency is trending payment and investment asset just like how people invest in mutual funds, real estate, market shares, silver, and gold nowadays. More investors are interested in investing their money on these cryptocurrencies, and the increased demand of cryptocurrency has increased its prices a lot.

It is important to note that it is not late to invest in cryptocurrency. However, the fact is that we can’t invest more in Bitcoin because its price has already touched the sky. That’s why we have to choose the cryptocurrency whose price is low and will increase in next couple of years.

There are more than 5000 cryptocurrencies in the world and it is really difficult to recognize the right cryptocurrency to invest. However, the future of cryptocurrency can be predicted by looking at their market cap and many others thing.

Investing in cryptocurrency can be fruitful if we select the right cryptocurrency to invest. That’s why we have to be careful while investing our money in cryptocurrency. We can earn a good amount of money by trading cryptocurrency. On the other hand, there will be huge chance of big loss if we are new.

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2 votes

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benkalashnikov (60) · 7 years ago

Very true, stay diversified and hold big and solid coins... trade the rest.

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nocturnal (48) · 7 years ago

As a n00b, this is the first I've heard of C-waves and E-waves. How do you know which will be which?

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1 vote

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benkalashnikov (60) · 7 years ago

If you study the basics of Elliot Waves, you'll get a better understanding for my posts. I'd suggest searching on youtube for elliot waves.

But in short, a correction according to the Elliot Waves principle is either an ABC or ABCDE. The latter often forms a triangle.

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1 vote

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randr10 (62) · 7 years ago

When I studied Elliot Wave analysis many years ago, I don't remember seeing D->E waves in anything but a sideways consolidating move. In anything that was a clear correction followed by a resumption of trend, A->C was it. Your BTC analysis shows D->E waves in a downward corrective move, and I don't think that's right. If it is right, they should be labeled 1->5 waves and it would indicate a change in long term trend.

Disclaimer: This is not financial advice. I'm not a financial adviser and I am not an expert on cryptocurrencies nor investing. This is the amateur opinion of some guy having fun on the internet. If you choose to invest your money in anything I talk about, you do so at your own risk.