)
SUMMARY
In this morning's update, we had a primary pathway for an a,b,c,d,e triangle and a secondary price pathway for an a,b,c retracement. Being aware of these two paths, a lower low should not have panicked anyone but rather keep it far away.
The below chart again adds to the fact that Bitcoin just loves triangle patterns! If it is correct, then this pattern will complete as a bullish downward pointing symmetrical triangle and can be labeled as a,b,c,d,e. Price might want to get closer to the Apex but for now, I'm putting a $12,393 as the retracement target. Let's see what happens in the overnight price action. The pattern might complete overnight, in which case, we could see the price effects of a renewed impulse up.
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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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.**
I put in a stop loss a few days ago during the surge and sold 2 btc at 17300 then rebought back in at an average of $16300 because I hate not having my Bitcoin. Guess I should have waited. Had a few chances yesterday to sell at $16300 plus but decided to hold. Hope it turns out well. I'm sure we will see $20k plus very soon as Haejin so wisely predicts. Without his knowledge I would have been panicking but Haejin's learned knowledge has helped with my nerves and has been a real saint. Thank you again Haejin for your posts and wisdom.
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selling Bitcoin to buy back in, is a risk business, the higher we go the more risker it gets.
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I say at least 12k if not lower and tonight is the big Futures party launch...we are all invited!!! Grab some popcorn, smash that Upvote button and let's get niiiiiice~~~!
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Bitcoin is going to 72000 by may - 100000 by this time next year......better get a Dumptruckmload of that popcorn my friend.
Thank you kindly.
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There are 21 million bitcoins.
Most of those bitcoins are held by ideological hodlers who won't sell until post-hyperbitcoinization.
There are thousands of Wall Street traders who are all experiencing massive Bitcoin FOMO.
You do the math.
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Well, the last bitcoin of the 21 Mil won't be released to miners until the year 2,140
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that is mad its that far away...lol be pricey by then.
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I need to warn all of You guys - there is something seriously wrong with HitBTC exchange. I was using it because it was for a long time main place to buy BQX.
Today I was trying to move BQX out to Binance. Transaction is pending for 14 hours now. I got to their support forum and it's flooded with complaints from people waiting more than 10 days for a withdrawal (various coins). People say that support stopped replying to emails and on forum.
I hope the problems are temporary. I have significant number of BQX there.
Smells wrong, doesn't it?
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I use HitBTC a fair amount due to low fees and many Altcoin options. I have seen many complaints in the Troll Box from people who have had problems. I've recently transferred LTC both in and out with no issues. That said, I definitely wouldn't keep all my trading funds there or at any single centralized exchange.
As volume and coin options improve at the BTS DEX I'll be moving more of my activity there. I did just have an OpenLedger ETH transaction pending for over 2 days. And no, the issue was not on the Ethereum side... OpenLedger had their gateway down but for some reason still allowed me to initiate the transfer.
I hope that your BQX issue is resolved promptly.
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Thanks for some reassurance.
Situation looks a bit worse now - first of all transaction is still "pending", not even registered in blockchain (can't find it on etherscan).
Secondly, I found that they had some hacker activity 2nd of December on one of smaller markets. More info in their announcement https://blog.hitbtc.com/official-statement-on-amm-micromoney-token-markets-issue/
I hope they suspend withdrawals only until they resolve the case.
Can I ask You when did You do Your LTC transactions?
[edit] - whoah transaction appeared in etherscan. That's a big step forward.
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Glad to hear that your transaction is moving forward. My LTC transactions were within the last 36 hours. Also, my ETH transaction with OpenLedger eventually went through once they got the gateways back up.
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Got my Elliot Wave book Coach H! Looking forward to another session when we can get down to some nuts and bolts. Cheers
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I wish you MASSIVE profits!!
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i hope this is abcde correction !
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Don't hope have faith in the moment that precedes the next.
Thank you kindly.
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STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
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Is steem an inverted cup? Should we get out?
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I don’t think getting out of steem is ever necessary. But do as you wish. This wasn’t advice. Make your own informative decision
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Do some research and you should figure out why you shouldn't power down for at least another year. I'm not a TA. I'm looking at the fundamentals which just so happens to be amazing. Spend few hours digging. It'll be worth it.
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it will be interesting what happens over night and tomorrow for sure
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Quite a tricky time right now for a trader, isn't it?
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Make this year different by making it the same
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Really like your content dude. Keep it up
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Got it dude!
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everyone in forums is fudding about futures trading is gonna short on bitcoin and spreading fudd. Really annoying, trying to make people panic sell and shit.
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Your post has been resteemed to my 2800 followers
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Get 1 free resteem using the Power Resteem Service #26
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What I was afraid of, happened. Btc started falling before the Alts could gain on it.
As usual got screwed. This vicious circle has to end. Alt prices should not depend on BTC.
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If it's just a correction, why play it? Too many trades mean you have to be that much more accurate.
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Sure @haejin, but it makes me sick that the Alts go down with the BTC corrections as well though it's not necessary in their chart.
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Wait for BTC 5th impulse wave: Alts will be back on track. All these bullish signals can't point to nowhere.
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yeah, what is easy to forget is, this is an adoption curve. Bitcoin is fueled by both greed and the need for change. Yes money is amazing but to think that this technology can make this world a better place is the key for me. This really is a special time in history.
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Hang in there my friend. All my alts have been pretty flat too, and patience is being tried for many. I have observed from several sources a common sentiment that alts will get back on the horse and gallop early this coming week. We shall soon see how this cycle is going to shake out.
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Haejin Lee you are a legend, defo going to sign up for coaching after i get some money from a trade. Your an inspiration, amazing style and passion. It is amazing what awareness will do. jsut chilling where in the past i would be transfering money from hard wallet to exchange.
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I wish you MASSIVE profits!!
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thanks Haejin, preparing for this bitcoin burst.
Verge and BTS are both looking prime for a breakout.
My strategy is to cash in on Bitcoin at about 22-24K (laddering), and then send the profits to VERGE and BTS as (if I'm reading/adapting what I've learnt from you), these alts should rise when Bitcoin hits wave 5 if I'm correct.
Thanks so much again.
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Thanks for your continued analysis @haejin.
I dont think the target was hit yet but it could be. I think the opening of the future exchange could coincide with your upward move.
That might be the "news" that moves it. LOL
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Thank you!
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Hello!
My name is Natalia and I’m a community manager of the TravelChain project.
Our team really like your blog about crypto news, bitcoin, cryptocurrency, money and your opinions about that. I really admire all the efforts you put into making such an amazing and unique content! I would be happy if we could work together.
The thing is, right now I'm looking for enthusiasts who will share the same interest in blockchain startups as we do. We're creating our decentralized travel database on our OWN BLOCKCHAIN. There are a lot of things I can tell you about our project, team and what we’ve already achieved. You can find the information by this link: https://bitcointalk.org/index.php?topic=2364466
In addition, if you will be interested in our project, I would like to talk about cooperation in our bounty campaign (of course, with reward).
I hope to hear back from you soon!
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So did we wake up to an impulse?
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Will you look at that. The target low was spot on. Binance 24h low is $12,368!
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