SUMMARY
Bitcoin (BTC) is going sideways and often this means it's either a WXY or WXYXZ or a triangle. Patterning out the price moves shows that Bitcoin is likey carving out the final waves of the abcde symmetrical triangle formation. The below 30 minute chart shows that waves a,b,c,d are complete and IF this is the selected pathway; then e wave would likely complete at around $8,921. For Cryptos, when a triangle pattern is discerned, it's most usually a wave 2 or 4. In this case, it's blue wave 2.
Encompassing the symmetrical pattern could be another overarching downward wedge as shown in the below 4 hour chart. The wedge waves a,b,c,d are complete and e is left to go.
For further consideration is that the fractal degree of similarity between the larger wedge from which Bitcoin breacheed out of and the current smaller fractal. Recall that wedges are quite common for Cryptos as corrective and consolidation phases and thus can consecutively repeat. In effect, this is yet another way of having price go sideways to consume time. So, if the blue wave 1 is complete, then the smaller wedge is likely being designed to fill the role of blue wave 2 and once complete, allow the onset of blue wave 3. Please always remember, I'm an ardent Bitcoin Bull! These corrections represent nothing more than additional opportunities to deploy cash.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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
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Essay: Is Technical Analysis a Quantum Event?
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Hello Mr. Haejin,
I would like to know if you want to have a civilized discussion about why you and @starjuno flagged my latest posts.
Is it because i am tracking the performance of your advice?
I would like to say that i started to do it because i don't see you providing the results of your advices anywhere else, and i got curious of how good Technical Analyst you are, and started tracking your performance myself.
So far, on 4 days fell 19,16% of the invested value, while the same amount on BTC only fell 14,88%.
Doesn't look good so far. But it seems that you know that already, since you only downvoted the posts and didn't provided any insightful comment.
Don't worry. I will keep tracking your portfolio in real time, and also do some backtracking on past months as soon as i have some extra time.
Aren't you curious of how is your performance?
Have a good day.
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Still stuck in this range. Let's see an upswing so I can cash out more!
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Same prediction here! Looks like a 2nd wave to me too. Are you any concerned about the "low" volume on the 1st wave though?
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Arbitrage Platform http://arbiswap.com
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bullseye!!!
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if you already upvote only your own comments, what about contributing some information instead of just spamming?
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Confused. If wave three increased passed wave 1, wouldn't that invalidate target E and the small continuing wedge as it would break out?
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no, since this is a lower degree corrective wave, it can surpass the subwaves of the higher degree.
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This kind of back and forth movement hurts me in my Tether regions
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Those regions are very sensitive. 😂
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lol
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have an upvote lol
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hey haejin! i invite you to vote my post!
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Thanks for your analysis! but after some time bitcoin going up thank for good post
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Coins mentioned in post:
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Good one
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bitshares ..... just testing
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Flagged, disagree with your potential rewards.
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FLAG #HAEJIN & earn more money on STEEMIT!!!! #FlagAWhale #FlagADonkey
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Excelente consejo amigo! Ya le deje mi voto. Unidos se puede lograr grandes metas. Saludos y gracias por su informacion!!!
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I’ve written a hip hop track to dispel the bubble myth, teach newbies about the revolutionary tech blockchain and IOT hold and to give us insiders a few belly laughs. The markets have been rough lately, but the longview is overwhelmingly positive. Please check it out... you won’t be dissapointed!!! https://d.tube/v/avatarawakening/0ulkcejg
Accessible on nearly every streaming platform (Spotify, iTunes, etc)
https://fanlink.to/thebitcoinbubble
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Hopefully we bottom out soon...
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Amazing...
Good post @haejin
I done follow and upvote you @haejin
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Creo que también deberíamos ampliar los conocimientos hacia Onecoin, para ver como compararíamos esta moneda cuando explote en octubre próximo.
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Dear @haejin
You have been flagged via the flag-a-bitch app. The reason is you have been found to be Raping the reward pool with a rate of around 2.133% of the reward fund. To add onto this, your TA's are so horrible that a simple check with a mock portfolio will provide a negative value.
The flag-a-bitch app is being used on you because of your consistent blattant abuse of steemit through means of: abusive self-upvoting, collusive coting groups, and disagreement on rewards. Since we deem that you have been damaging the steem economy, we flag you.
If you would like to help us out with our quest to fight abuse you can check out our post here.
Thank you!
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Bitcoin is very very important to us...nice post.
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FLAGGING @HAEJIN would be more important. And you would actually earn more money on steemit by
doing that. FLAG #HAEJIN & earn more money on STEEMIT!!!! #FlagAWhale #FlagADonkey
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BEAR MARKET IS COMING!
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Hope to see your paper trading results! 👍
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I do not see any of Haejin in your data. He continually states If- then scenarios and also puts up opposing viewpoints, which is at the heart of TA. I would never trust any person who only has one possible price pattern. And I don't trust your results because you seem to be missing the point. Nobody, and I mean NOBODY, knows the future, we can only make educated guesses and hope for the best. I too am calling for an uptrend due to the slow moving complex head and shoulders bottom that signaled a trend reversal. But it might not turn today or tomorrow, could be next week, or next month who knows. Nobody. That is just the regular hurry up and wait scenario that any good analyst knows.
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