SUMMARY
Divergences abound! I walk through the varying levels of indicator to price divergence as well as detail the probable pathway analysis. The video has it all!
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.
I've gotta say guys..after looking at charts for as long as i have , the moon shot looks more aesthetically possible before coming down to the bottom trend line...but that's what's great about ladders and EW..very good point haejin when it comes to symmetry...this is a fascinating situation right now..I'm glad I'm old enough to be witnessing this time in history again just like the good ole dot.com days..cheers
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Fantastic video Haejin, easily my favourite TA post from you in the couple of months I've been following you. Thank you so much for your insights.
I've only been playing this bear trend with about 40% of my stack, just trying to play some alts for small gains here and there, since even in a bear trend some alts will inevitably see some nice moves.
Unfortunately, I think I've only managed to break even, so this could just be a big fat waste of time lol.
I'm still being cautious though, and your TA has helped my own TA immensely! Personally, I think BTC needs to hit the mid 2000s before it can continue the run up past the ATH.
My thoughts on all of this:
To reach $6000+ we're going to need a MASSIVE influx of money into the markets and as we know, the smart institutional money doesn't like to buy at highs. How many billions of dollars do we need to breach the last high?
BTC hype has died down in the media so we won't be getting that frenzy of mom and pop investors any time soon. Everything right now just screams bull trap before the healthy correction to the long term trend line. If things get cheaper, more people can buy and we'll get a nice influx of money into the markets.
At the BTC peak we had about $170bn market cap, we're around the mid 130s right now. That's a big gap. The overall market volume is also very low so that doesn't give me too much hope of a huge rally any time soon either.
But all that being said, crypto is crazy, maybe that market will just explode and we hit those new ATH instead of correction. Either way I think we all win in the end by staying informed and having a plan for both potential paths. :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I had the same view and was shorting BTC on 5 times leverage using most my portfolio. Unfortunately things changed and I closed all the positions when the uptrend began. I think we might see a short term uptrend. Maybe the mid $2000 correction will be kicked down the road and we'll see 7K followed by a catastrophic crash.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah I'm fine with either scenario. If we run up then we can ride the waves up, if we crash we can have the cash on hand to buy at rock bottom prices. What a time to be alive.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Dry powder kegs :D! Ty @haejin
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
All kegs were filled during the Wave III topping.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi Haejin you mentioned in the video you took profits after bounce from $3000 can you confirm this or did I hear incorrectly thanks
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very Very interesting TA haejin..thank you for taking the time...cheers
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
May I suggest you try this but using logarithmic scale? I had a quick look and maybe this thing changes by percentage, not by value. I don't have enough knowledge to reach any conclusion though. What I mean is, e.g.: is goes up in steps of 100% rather than 1000USD (just an example).
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The video has log and linear parts.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
LOL! Yep... I saw that now. I tend to see parallel lines in logscale... but I'm trusting your eyes on this one!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks,
Could you do a BQX long term target?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Here is the BQX analysis, please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/bitquence-bqx-update-is-the-a-b-c-correction-done
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you. You mentioned a while back about the possible price target for EOS. Is this when BTC goes to $7-$9000 or is it much further down the road just wondering.(like years away).
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That would be nice!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Can you please do Dash and Monero?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Here is the analysis for Monero, please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/monero-xmr-update-target-usd340-usd-and-btc-analysis-shows-the-same-pathway
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Here is the analysis for DASH, please use only to augment you due diligence.
https://steemit.com/bitcoin/@haejin/dash-update-target-usd713-the-jaws-of-wealth-spreads-wide-open
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit