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SUMMARY
NOTE: If this blog gets downvoted; @ranchorelaxo has our backs!!
Bitshares (BTS) is following the below prescribed a,b,c,d,e triangle pathway pretty well. As waves a,b,c are done; that leave d and e to complete and price seems well on its way towards e. This despite the daily chart and MACD showing a bit of overbought condition; however, I've seen plenty of instances of MACD scraping the tops of the overbought ceiling for weeks before declining. So, let's see if the overnight prices can complete the d wave. These a,b,c,d,e patterns have about 61.8% success rates so they can become invalidated. However, probability leans towards validation.
Here is a bit of a bearish indication for the BTS/BTC pair. A Head & Shoulders pattern can be seen and this bodes a few declining days. Once BTC turns up, most /BTC pairs will decline and start correcting. Unless, the demand for a particular /BTC pair exceeds the upside rate of BTC.
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?
Follow me on Twitter for Real Time Alerts!!
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
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.**
This is my analysis: https://www.tradingview.com/chart/BTSUSD/3TRJsLFk-BTS-Bitshares-first-stop-is-0-97/
I think the ABCDE is complete.
Also interesting to note:
BTSUSD 1 month ago:
BTSUSD now:
BTSBTC now:
MASSIVE PROFITS!
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Quick update; we have almost broken out of the triangle. If it does, this could be a big run up!
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This does not seem to be right. I feel like @Haejin's prediction was correct.
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What in particular is does not seem right to you?
@haejin has a wealth of knowledge and experience on me, so I would not be surprised if he turned out to be correct!
I'm just throwing some ideas out there to learn and get feedback.
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So should we sell our BTS holdings and wait for the correction to finish then buy back into BTS? I bought in at 60$ per share btw.
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I can't tell you when to buy or sell, but when people ask me this I ask them are they investing or day trading.
If it's the former, you hold until it reaches some longer term profit target. You won't be concerned with day to day fluctuations in price because you think long term it will be much higher than you bought in.
If it's the latter, then set a short term profit target and a stop loss. That way you manage your risk and take a small loss if you are wrong, and you make a modest amount of profit in a short period if you are right.
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ABCDE is not complete yet.
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Hm, looks complete to me. Problem is it struggles with breaking out of triangle now. Is kinda dribbling on the upper triangle line.
[edit] - ah, I understand You now. You mean B and C in @crimsonronin chart might be just subwaves of real B and that would place us now at the top of D. Could be.
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That is exactly what I was talking about.
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Yeah I agree, it's looking more and more likely now.
I kept my original count and added @haejin's for reference.
It had momentum but couldn't break out, so I think it will retest the lower end for support
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@crimsonronin What software do you use?
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Think he is using tradingview.com, it is a good one but I prefer coinigy.com, many use both because not all coins are avaliable on each :)
Hope this helps.
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Correct; I'm using tradingview.com
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look like you made some money in the stock market as well.
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I have made 10,000% returns this year thanks @haejin I was just simple goat farmer before now I have wife 5 cows and crypto farm
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congrats, hoping I will get there myself! :)
Happy new year!
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If you are looking for the right point to laddering in...
thx for your work!
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You trade Forex mate? My tradingview user is @wolftredar we could connect
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I don't really trade forex. Once you nail a 2-10x trade in crypto, it's pretty hard to go elsewhere. I have traded other commodities though like gold, silver etc.
I followed you on TV.
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I agree I have traded it all but once you start getting 5x plus you kinda move away from traditional markets into crypto!!
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But I keep hearing that the responsible thing to do would be to regularly take crypto profits and invest in gold and silver to diversify the portfolio. What do you think? - and will the gold/silver prices fall as pro investors move away from gold and into cryptos? A friend told me that this would happen...
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Diversification is never a bad thing! And yes, always take profit. Don't be one of these people that holds till the end of the world.
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Right, thanks :)
If anyone knows of a good place to find information about diversifying ones portfolio, specifically gold and silver, then I would really appreciate a link.
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What do you think of diversifying into collateralized pegged assets on BitShares like bitGold instead of physical gold? You still have the systemic risk if the whole network suddenly dies, so it's not as fully diversified as holding physical gold, but it seems a lot more convenient than moving between crypto and physical.
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Hmm, had not really considered that option to be honest, but I will look in to it asap. Thanks for the suggestion :)
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It's a great idea. Gold and silver look to be hitting ATL's, so it might be a good time to get in soon. Also, property if you can afford it is always a good idea!
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You are awesome dude !! Did @haejin teach you this ?
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I follow a few people because I love to see a diversity of opinion eg.
https://www.tradingview.com/u/goldbug1/
https://www.tradingview.com/u/MarcPMarkets/
However, @Haejin's TA is among the best there is, especially in crypto, and I have learnt so much from him!
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Thanks so much. I still have a very long way to go, but I'm slowly seeing improvement!
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Funny how at the same time we want a coin to increase in price, that sometimes we like the idea of a correction so we can buy more when its cheap! :)
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Who does not love a sale! :) LOL
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so true!
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Do not be afraid to support and comment on Haeijin's blog!! BernieSanders cannot silence us all. He stopped his attacks agains Haejin and now is going after his supporters. FUCK BERNIESANDERS!!!
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@letmesee. Thanks.
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"if we stay in the forest... we can level up! Killing boars."
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Bro! I'm learning some s*** just reading your posts! Thanks for the content!
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do you mean shit
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Yes. That's what I meant. :-)
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Hell yea!
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Right?! It took crypto to get me to look at charts. Stocks just seem so boring, and don't get me started on real estate! Haha :-)
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Excellent diagram and information as always here’s to the next wave.
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It's time for Bts to Moon .
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Guys please help so when its done with D it will go down again? It's best to liquidify my gains then right and buy low!!
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It will go down again once D is complete, but the spreads are so small, that unless you are an experienced Day Trader, there is a good chance you will lose and not gain. You are far better off at the end of an ABCDE correction to just hodl and wait for it to go up again.
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@GmrBotswana I guess you are right bro, better not to risk it at that point. I should have tried it sooner.
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Yes. You can transfer to something that will go up for the time being. My bet is on VertCoin, but DYOR.
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Ivascons thanks for replying
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@haejin can you please explain where you got the idea that H&S price should also have H&S volume?
Every reference I have says left shoulder should have highest volume, with declining volume towards the head, then more volume on the right shoulder.
Where as you are saying the head should have the highest volume?
Thanks!
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Thanks!
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never thought I would slightly understand and actually study charts!! Few years and I'll be consulting!!
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I took a position on BTS today, but after further thought re the volume on the H&S decided to sell and give it another day or two. One hour later suddenly the price shot up 20%. Pretty sure a random pump Sheesh
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No Head and shoulders on BTS. If you are referring to the Head and Shoulders on the BTC chart, it is not valid. See the chart recognition book recommended by haejin.
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Thanks, I figured demand for Btc was not strong so to wait would be the best thing , I guess I was wrong.
Still learning
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Thank you!
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Thanks Haejin you’re awesome!
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BitShares is mostly fundamentals and product lunches... Your technical analysis is really weak imho :)
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DO you trade Forex bro? Awesome post by the way thanks
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Looking forward to BTS posts with great anticipation. Thank you.
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Thanks for the heads up!
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@haejin could we please look into $POE? Or "PO.ET" as the name. Thank you!
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Thank you Haejin, welcome back! So happy to read your posts :)
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Your post is always insightful! Thanks a lot! :)
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Great post there, keep up good work !
This replay was created using STEEMER.NET Alpha ( support STEEMER.NET / Wallet / Exchange Project here: https://steemit.com/investors-group/@cryptomonitor/steemer-net-steem-blockchain-transactor-for-windows-android-app-funding-update-243-1200-sbd-28-12-2017 )
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Very excited about this! Picked up a few😉
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해진님 화이팅입니다!
주노님께서 도우시느라 바쁘신가봐요~
따듯한 연말 보내세요!
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Be the first one to get to the exchanges.
Be sure to sign up today!
Announcing H a e j i n SMS Notification's https://steemit.com/elliotwaves/@libertyranger/steemit-new-blog-post-sms-messaging-for-haejin-crypto-annalist-post -- Please resteem
this post
Never Miss Another Post from this master of the Elliot Wave theory again and you can be first to the Crypto Exchange to place your buy orders.
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So I’m gonna just go out on a limb with this comment. Forgive me if I sound like a totally noob but I’m truly interested in learning more about this. I’m new to Steemit and new to crypto..reading @haejin (among others) blog seems to be the best way for a noob to get a good understanding of the technicalities of cryptocurrency and it’s graphs. Would anybody like to give me some advice for how to learn a bit more about reading these graphs and where to start. I know the obvious answer is to go back and reread @haejin stuff.
Also screw all the haters @haejin, you’ve got a new follower.
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Every post has a list of Tutorials which will go a long way to helping you understand Haejins charts, as well as starting you on the track to doing your own analysis.
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do his tutorial first
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Also, I went back a few weeks and binge-watched his bitcoin morning and evening updates, that really helped along with the tutorials of course :)
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Thank you guys I really appreciate it!!! I will def do that!
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Another humble request for an OMG update please Haejin
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thanks for the update!!!
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@zainuddinibrahim. You have the best intention. Thanks for that. Don't say, "proud of you" when you comment on someone like a teacher. lol. You say, "Thank you. "
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The term "proud of you" is used differently all around the world depending on language. I am also proud of @heajin for sticking to his belifs and for helping the "little guy" succeed despite all the hate that he is getting.
Although I do understand that in English it often sounds condescending, but not everyone is blessed with great English skills, which is also okay.
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Lol these gif's are dope xD
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