Bitcoin (BTC) Morning Update: Diagonal Counting and Volume Confirmation

niconico (35) · 7 years ago

hello @haejin, could you please include youtube links in these posts. the dtube and ipfs dont seem to work on mobile which is where i normally keep updated form. thank you! (im on an iphone with all apps updated)

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6 votes

mavaor (37) · 7 years ago

Wow Top 43 coins!
I have 22 of them.
https://steemit.com/cryptocurrencies/@salahuddin2004/top-43-cryptocurrencies-pending-price-target-and-their-due-dates-when-they-will-hit-targets-26-01-2018

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benkalashnikov (60) · 7 years ago

Great video as always!

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haejin (87) · 7 years ago

Just did. Here is the link:

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kimjongpoo (0) · 7 years ago

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investingtips (3) · 7 years ago

If Bitcoin doesn't crash again soon I will be mind-blown: https://steemit.com/bitcoin/@investingtips/textbook-symmetrical-triangle-on-btcusd

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thegreatcurrency (42) · 7 years ago

Would you do a post of OMGETH pairing please? Just started learning Elliot Wave principles and I know I'm getting parts wrong, all part of being new at something.

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haejin (87) · 7 years ago

I'll be happy to. I'm uploading the analysis now. Here is the chart:

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kimjongpoo (0) · 7 years ago

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yanisbreakers (10) · 7 years ago

thank you information

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kimjongpoo (0) · 7 years ago

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khanhumza (28) · 7 years ago

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cryptosuf (51) · 7 years ago

oh nice, another spam bot with poor grammar.
you're not actually getting anyone to follow you by spamming @Haejins posts...
@khanhumza

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scorer (58) · 7 years ago

Is it new Firefox 58, DTube or other changes that now shows this video without problems?

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haejin (87) · 7 years ago

Chrome should work best.

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khanhumza (28) · 7 years ago

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cryptocaddie (25) · 7 years ago

If you ever want to get your lips surgically removed from salahuddin's ass, I know a really good plastic surgeon.

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kimjongpoo (0) · 7 years ago

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jeff747 (50) · 7 years ago

Wait.. you have wave 4 overlapping wave 1? Isn't that a hard elliot rule..that wave 4 cannot overlap wave 1?

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shawnster (47) · 7 years ago

Hey Jeff...it can only in a leading or ending diagonal ...hope this helps

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ryan313 (57) · 7 years ago

Thanks

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kimjongpoo (0) · 7 years ago

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martinf (33) · 7 years ago

Alot of good infomation Haejin. Thank you.

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kimjongpoo (0) · 7 years ago

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bluedog1 (23) · 7 years ago

@Haejin, Great video and thanks! The mute button is very helpful indeed:) Learned much about the leading diagonal and where that can break the rule of 4. Every one of your videos builds upon the others and the information is there for those with eyes to see and ears to hear. I have personally watched the Fib tutorial 4 times and still have questions, so my intent is to watch it 4 more times at least! Many thanks, and much respect from a longtime follower.

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haejin (87) · 7 years ago

Please consider purchasing the Elliott Wave Principle book as that has tons of details.

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guyjeb (29) · 7 years ago

I agree. I didn't know i could mute. Googled it and found an easy Guide. SHould have known it was that easy.

For everyone who Doesnt know how to mute, It's next to the Authors Name (Down arrow)
https://steemit.com/howto/@rgeddes/how-to-mute-and-unmute-on-steemit

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kimjongpoo (0) · 7 years ago

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tokyoin (49) · 7 years ago (edited)

Watched the DTube video on Safarrriiii!!! Nice:)
Here is a screen grab:

Screen Shot 2018-01-26 at 1.02.26 PM.png

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scorer (58) · 7 years ago

It means that Dtube has fixed something.

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haejin (87) · 7 years ago

Glad to know it works on Safarrrrriiii!

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kimjongpoo (0) · 7 years ago

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dbrdbr (45) · 7 years ago

Hi :) is this a correct count? and a plausible alternate for BTC righ now?

if it doesn't break the support at 10400?

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cchanski (25) · 7 years ago

Yes and a common one we see everywhere. We have a battle between the bulls and bears around the 10k mark. This reminds me of last September when everyone was calling for lower lows at 3k but the bulls wouldn't let the bears have their way

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ryan313 (57) · 7 years ago

I remember 🌈

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haejin (87) · 7 years ago

Technically correct, but not my primary; but then every Elliottician has a different outlook.

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kimjongpoo (0) · 7 years ago

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myeasin (57) · 7 years ago

Dtube video Always Good

That's A Great Info

Thank you

kimjongpoo (0) · 7 years ago

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digitalhealth (25) · 7 years ago

Thanks again for your analysis!! Best in steemit

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haejin (87) · 7 years ago

I wish you MASSIVE profits!

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kimjongpoo (0) · 7 years ago

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z0rn (25) · 7 years ago (edited)

really nice vid as always. i really enjoy your videos, not only from the TA perspective, but ur giving such great life lessions which are not only fit into TA but in our lifes too. thats so valuable. its so sad that these flagging douchebags are all over the place and its really annoying that they flag us just for commenting. but i will stay and support u ;)

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kimjongpoo (0) · 7 years ago

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cryptosuf (51) · 7 years ago

lol nice cartoon

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shawnster (47) · 7 years ago

haejin i have an important question with regards to the leading diagonal analysis..from what I've learned over the years a leading diagonal is usually the Wave 1 if an impulse or Wave A of a correction which means that we are either beginning an impulse down or a larger ABC down and the ending of this diagonal will be WAVE A of a larger deeper correction...do you believe this correction will be an expanding diagonal, thereby making another high and then crashing to a new low??? BTW, for everyone, I blew off the dust from my trusty EWP book and i show this on page 40 for anyone that would like to discuss...this is a great group of people..glad i was able to find this section and meet haejin...EW analysts are a lonely group...it takes practice and patience...cheers everyone

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haejin (87) · 7 years ago

Yes, you're thinking what I'm thinking; this could be A of a larger ABC. However, I haven't introduced that yet to the blog as it would cause more confusion.

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barsic (42) · 7 years ago

I assume it is what you meant when hinting at 4k for another possible pathway

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shawnster (47) · 7 years ago

Roger that haejin..thank you...just wanted to make sure...cheers friend

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cryptocrypto18 (39) · 7 years ago

I am reading the Frost & Pretchter book currently, keeping in mind new to EW (being following yor blog for about 3 months) and only about 50 pages in the book and went back to page 40 to see...Interesting..Guess i am hoping for something else however following the principle we must experience the corrections to continue later increases.

On another note do you think that from a very large trend perspective 2017 was mostly a wave 1) and we are currently in a wave 2) ?

In my opinion BTC chart looks that way as does XRP, LTC and a few others..

There are some that look like in a 4) . I could be way off, if not however are we discussing all the extensions and sub waves of those larger trends?

Point being that time aside, we will eventually come out of these corrections and again start an upwards trend...? With some moving into their 3 & 5 waves.

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haejin (87) · 7 years ago (edited)

I'm thinking it has probable weight to be the A of a larger ABC down. Yes, that is something I"m keeping a close eye on. Good that you also see that. We'll have to see how that reversal after the completion of this diagonal goes.

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bluedog1 (23) · 7 years ago

@Haejin, Shawnster, Gentlemen:) Thank you for the commentary! I now have more questions. I took the liberty of copying the page out of the EWP book. I struggle sometimes with the language in the book, so any clarification would be valued greatly:)
Questions are:
1- When the book says "a continuation message" as opposed to a "termination implication" This is implying that this pattern says the bear trend may be continuing?
2- Should the pattern become a more probably pathway, what would some indicators, outside of volume, be for this?
Apologies for the lengthy questions! I am fascinated by both EW and chart patterns and would just like to understand as best I can. I understand that TA can change with incoming prices, so this is not me trying to put any additional FUD into the space, but rather an attempt to catalog as much info from people way more familiar with this space than I. Thank you in advance for any time put forth into answering my noob questions!

Figure 10

Leading Diagonal

When diagonal triangles occur in the fifth or C wave position, they take the 3-3-3-3-3 shape that Elliott described. However, it has recently come to light that a variation on this pattern occasionally appears in the first wave position of impulses and in the A wave position of zigzags. The characteristic overlapping of waves one and four and the convergence of boundary lines into a wedge shape remain as in the ending diagonal triangle. However, the subdivisions are different, tracing out a 5-3-5, or 5-3-5-3-5 pattern. The structure of this formation (see Figure 10) does fit the spirit of the Wave Principle in that the five-wave subdivisions in the direction of the larger trend communicate a "continuation" message as opposed to the "termination" implication of the three-wave subdivisions in the ending diagonal. This pattern must be noted because the analyst could mistake it for a far more common development, a series of first and second waves, as illustrated in Figure 5.

The main key to recognizing this pattern is the decided slowing of momentum in the fifth subwave relative to the third. By contrast, in developing first and second waves, phenomena such as short term speed of movement and breadth (i.e., the number of stocks or subindexes participating) often expands.

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shawnster (47) · 7 years ago

Hey blue...I'll also add that typically, a "leading diagonal" is followed by a continuation of what ever it is starting..in this case "if" it is a leading diagonal of a large ABC correction, then we will get a Wave B bounce and then a Wave C continuation down...Leading diagonals are rare in wave 1's which is good in this case because it just means it is a correction and not an impulse down..this isn't 100% "ever" but usually it will ultimately continue it's trajectory which is up after an ABC correction is done..all diagonals do is help you understand where you are in the count...NOW, usually this means we are headed much lower, but haejin has been trading crypto longer than I have and his nose for expanded flats are remarkable...and they love to do these formations..which makes it even harder for me to determine whether we will see new highs..my inclination is that it will take a combination of volume profile, MAC D, TA and EW to try and dissect this, but one great example of an expanding flat is the last high at 20000 ish..did you see the 3 waves instead of 5 on the last thrust up??? you will start to see these more as you go on, that along with waning volume was a huge indicator to me that a top was potentially forming...hope this helps friend

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shawnster (47) · 7 years ago (edited)

I forgot to mention blue...an ending diagonal "like it says" usually is present at the end of an impulse or the end of Wave C of a correction...so if you see it while the trend is up, it helps me forsee a potential turning point...how far will it correct?? only time tells and then the proceeding wave counts to give clues...BTW, haejin just posted an alternate WXY count on his mid day update which i didn't consider...this is very valuable...considering the oversold nature of the MACD and the fact that everyone is expecting another low or crash, may make large players try to push this thing and have those sitting orders FOMO into the thrust to new highs...just an observation..not a prediction...cheers friend

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bluedog1 (23) · 7 years ago

Hey Shawnster, many, many thanks for the info! I understand there is no 100% ever in this world and have a lot of respect for that aspect of this space:) So, If a symmetrical triangle is an indecisive pattern, an ascending triangle is bullish and a descending triangle is bearish, then a leading diagonal leans more to the trend. Whatever the trend is at the time. Am I roughly along the right lines here? Extra noob question....This pattern is pointing down, so essentially bullish.....??
I totally missed the expanded flat!!! Haejin is a genius. I remember my thoughts when he posted that video:) Since then I am getting better about seeing "three wavish" shapes:)
I like how you say that leading diagonals can help you see where you are in the count. That is very helpful for me. Are there other patterns you feel help with finding your way around a count?
I watched that recent video as well and I was thrilled to learn yet another new thing! Not sure I can use it yet, but I am observing and absorbing. Learning never gets old:)
This may be sacrilege to say in this area but I find the EWP book sometimes tough to grasp. Some people say that the Bloomberg financial books on EW and Chart patterns are a little easier to read. Would you have any insight into that?
Many thanks for your time!
Much appreciated, Cheers friend!

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shawnster (47) · 7 years ago

Definately not a stupid question blue..in fact many get frustrated with EW and call it malarky..haejin brought up a really good point when he first started blogging in his training videos.."if you use EW alone, you will most likely lose all your money", but "if you use EW with TA and some indicators, in can help augment your analysis enough to where you feel more comfortable with your trades...another hard thing to do is ladder...there are a lot of traders that stop out and that's it..which is fine..i know a lot of day traders that are successful this way...but haejin's technique of laddering in on the way down puts you in a more comfortable position so you don't allocate all of your funds at once..BTW, your understanding of the diagonals is correct, but the only thing is when there is a leading diagonal, it means the trend has changed (bearish in this case for now until proven otherwise) because if will have a post bounce and then finish the last part..so you may see a leading diagonal start from a downtrend (up down up) and then the downtrend proceeds after this short term trend change to allow the correction to complete...or you may see a leading diagonal start from an uptrend, telling you that you may have a down up down to finish that short term trend change...in equities and futures i rarely saw leading diagonals as a wave 1 of a starting impulse, so this tells you that you are in a corrective phase, but crypto is different..triangles are abundantly clear of course along with expanded flats...this is why I've learned a great deal from haejin on the crypto side of EW.....now with that all being said..nobody knows for sure what's going to happen..corrective phases are the worst to predict..that's why the huge upward trend in the last few months was great to deal with...when i see these types of corrective moves, i lighten up a bit, hold the strong coins and dump the stragglers, and then wait for a more clearer picture...make sure to check out the book on TA that haejin recommends for the TA side...EW takes time..i wasn't really comfortable until about 2 years in..and i realized you cannot use it alone...an interesting thing i told haejin was that the futures market was even harder due to the fact that high frequency bots were just destroying the natural fabric of the markets..crypto was one of the most pure forms of human psycology and will change in time now that large algos are going to move in and futures is now upon us...i knew once they were in, the movements of the markets would change considerably..i was wrong ...i thought it would become more volatile..but instead it went to a crawl...i really hope they haven't taken the wind out of the sails yet...i just don't see how considering the infancy of this technological revolution...hope this helps some..sorry for the long rant..cheers friend

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bluedog1 (23) · 7 years ago

Shawnster, Thank you for the reply! I am with you on your rant. I find myself to be 50% thrilled that this space is getting recognition, and 50% disappointed as I feel those same institutional investors will find ways to block the "little guy" investor. I am grateful to have started trading crypto before their influence.
Thanks also for the info and insight into EW. I have a friend who is a fundamental only analyst and we have some interesting conversations;) From my understanding all TA is seen as malarky by most, regardless of the theory used. However, I really enjoyed when Haejin said that TA gives us a "peek around the corner". Thats works for me!
Again, thank you friend for your insight and information. I appreciate the chance to speak with people who are willing to spread kindness and knowledge!
Cheers:)

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kimjongpoo (0) · 7 years ago

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hakeemshah96 (50) · 7 years ago (edited)

Hi @Haejin... I have been following you recently and enjoy your posts.

It saddens me to see you And @ranchorelaxo get trolled by people who have nothing better to do. If it ever bothers you, just know that the forces of evil like to enjoy beautiful things.

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kimjongpoo (0) · 7 years ago

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bjlsteemit (38) · 7 years ago

Another great post ! People should also listen to the last 5 minutes !

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kimjongpoo (0) · 7 years ago

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tanuki (25) · 7 years ago

Thanks for the BTC update @haejin. Each of your videos grows and challenges my own interpretations and knowledge. So much appreciated.

May I request you to take a look at ZenCash? I suspect it is on its way to complete an ABCDE correction and would love to hear your perspective. Thanks again!

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kimjongpoo (0) · 7 years ago

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akbarbadsha (57) · 7 years ago (edited)

Very nice and informative video.
Thanks for your great work dear @haejin

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kimjongpoo (0) · 7 years ago

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jasonvme (49) · 7 years ago

Thank you for the update.

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richatvns (73) · 7 years ago

I appreciate the information on how to see how math applies.
I definately going to watch your tutorials next!

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anthem-d (25) · 7 years ago

DTube still completely unwatchable for me, any chance of a youtube version as well?

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kimjongpoo (0) · 7 years ago

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alejandrofa (25) · 7 years ago

Muchas gracias por tus análisis

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kimjongpoo (0) · 7 years ago

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phoenix139 (25) · 7 years ago

Looks like today's trend is because of Davos WEF
https://steemit.com/bitcoin/@phoenix139/davos-and-bitcoin

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kimjongpoo (0) · 7 years ago

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benoakley (25) · 7 years ago

Seamless playback on Safari, @haejin thank you for putting all this effort in to educating us.

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https://steemit.com/bitcoin/@andrea97/how-to-earn-quickly-and-safely-bitcoin-btc-bitcoin-cash-bch-litcoin-ltc-doge-dash

andrea97 (53) · 7 years ago

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eyinlojuoluwa (34) · 7 years ago

It is not playing on my phone. I am using Afrione Tab. Please could you help to upload a youtube version of this video??

Thanks

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sp33dy (56) · 7 years ago

https://steemit.com/utopian-io/@sp33dy/https-rest-calls-crypto-price-monitor for those that know Godot Engine. Demonstrating how to create a simple price checker for any currency (ok, its Bitcoin right now, but easy to change)

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jlewis (25) · 7 years ago

Thank you for the info @haejin

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https://d.tube/v/cryptobtcchris/and10rcp

cryptobtcchris (52) · 7 years ago

Brief summary of the crypto markets and overall market cap. Coincheck was hacked for $530 million and it was the largest hack of an exchange ever. NEM's price is down 10% on the news of the hack. Cover 6 ways crypto makes the world better. Goldman Sachs has some crypto news that I cover. XLM the leading altcoin? and Stellar vs Ripple. South Korea has been investing in crypto the whole time they wanted to ban it. Cannabis coins provide a real world solution for the cannabis industry. Even brothels are accepting crypto now in Las Vegas. China may end the ban on ICO's in 2018. New exchange based in the Cayman Islands called Spark exchange.

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areeb85 (28) · 7 years ago

use this link to get upvotes on your posts https://steemfollower.com/?r=1075. it really helps you out if you have just started

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dahlsom (44) · 7 years ago

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zahidul0 (52) · 7 years ago

thank you....

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kimjongpoo (0) · 7 years ago

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moon2011 (33) · 7 years ago

thks for the info :)

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kimjongpoo (0) · 7 years ago

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bangbang (31) · 7 years ago

good

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kimjongpoo (0) · 7 years ago

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iamupset (44) · 7 years ago

Thanks for this information i just followed you keep steemin!!

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kimjongpoo (0) · 7 years ago

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gasparcha (58) · 7 years ago

Kinda misssing the old posts and somehow Dtube is not working properly on Argentina, or it might be just Me, but tnx for teh analisis dude :D

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kimjongpoo (0) · 7 years ago

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novusrex (46) · 7 years ago

I don't understand a thing but it is mesmerizing to watch :D

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kimjongpoo (0) · 7 years ago

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cryptomet (22) · 7 years ago

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kimjongpoo (0) · 7 years ago

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propofol (52) · 7 years ago

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kimjongpoo (0) · 7 years ago

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bits-stib (42) · 7 years ago

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damss83 (44) · 7 years ago

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damss83 (44) · 7 years ago

iflagtrash, here we go again...

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chaunceygardener (25) · 7 years ago

Right on target - most savvy people agree on this by now.
By end of the month, we'll be kicking again.

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kimjongpoo (0) · 7 years ago

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https://steemit.com/bitcoin/@stew/bitcoin-update-all-road-seem-to-be-pointing-towards-usd8000

stew (43) · 7 years ago (edited)

Agreed on the $8000 low! At least!

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kimjongpoo (0) · 7 years ago

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tumtum01 (30) · 7 years ago (edited)

Haejin, really no need address these people who foolishly bought top with no protections in place. Certainly no one who hates on your TA has taken the lessons or done any self study.

This is a correction people. Haejin has no control over that. If he had is way every coin would be at the moon!

This rally off the downward pressure though..

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kimjongpoo (0) · 7 years ago

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khanhumza (28) · 7 years ago

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tumtum01 (30) · 7 years ago

If you know it isn't getting there and are entirely confident, just do what you know to be true. If you don't know (as Haejin explains no-one knows) and you think 10k is the floor, back the truck up there. If you are unsure hedge and scatter your buys.

You can trust in the fact that Haejin understands that point of view and disagrees with it. I personally am 30-70 leaning toward below 10 drop. Very much support has shown up at 10k.

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cryptosuf (51) · 7 years ago

@marenos & @tumtum01
This guy @khanhumza spams every post @Haejin makes and promotes @salahuddin2004. He just makes up BS and says stupid stuff like " I DO NOT promote any analyst. But you should check out Salahuddin ... Thats Promoting...
he has like 8 different accounts. All have very similar names and once they get flagged enough they start using the next one... all he does is promote himself.
very shady.

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tumtum01 (30) · 7 years ago

Gotcha. I have been avoiding the comment section since late December...1 because I am not social 2. Negative guys bug me. Figured I have seen his name before, but I love to make heads explode with logic.

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cryptosuf (51) · 7 years ago

lol same

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marenos (24) · 7 years ago

@salahuddin2004 mentioned XVG will be $1 before 1 October 2018, and that is not precisely TA.We all know it will happen during that time withou t TA.

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scorer (58) · 7 years ago

Will see how his predictions are going to work.

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tumtum01 (30) · 7 years ago

I don't.

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adambenko (25) · 7 years ago

Well, right now we are sitting at 11k. I will trust you Haejin on 8k but if you fail me this time, just like with last 6 or 8 predictions for XVG, I wont trust you any more.

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pablob (44) · 7 years ago

yes man, feel the same way, I am holding tight to my xvg, I won´t lose money on that, but we may hold it several months...

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adambenko (25) · 7 years ago (edited)

Sold 6k of $ in verge 3 weeks ago. Not interested in xvg any more. I think that Neblio and Enigma are better investments for me. I have been watching their patterns and think there is way bigger room for growth for both of these. ENG will easily go 2,3x in next 2 weeks. I am gonna use this dip to make a nice position in it this time. I think that 10x is quite real for it by the end of the year.

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bits-stib (42) · 7 years ago (edited)

this is what i was telling everyone here in the comments... @haejin can not predict correction at all.... he was making lot of bullish calls during corrections, which he should not have done.... and bcoz of that many of the readers here will get in to this bloodbath, and the funny thing is he will not take responsibility of his actions (power comes with responsibility), and still would claim his predictions were not too shabby ... LOL , on top of that he will take all the steem dollars shamelessly as well... a monkey can make all the bullish calls in the shit coins he is making these days, no matter what they will go up in the future if crypto sphere survives, if not today tomorrow, if not tomorrow next month, if not next month next year, but that does nt mean he would be right in his TA

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diezeldiddy (55) · 7 years ago

man, you gotta realize that these analysis are barely more then a guess. No one can predict the market, anyone can find patterns. You just gotta find good projects you trust and invest in those.

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