SUMMARY
When a Technical Analyst sees a chart like the one below of Monetha (MTH/BTC); excitement arises. Why? Pattern and Count are displaying that MTH is nearing the terminal end of a correction and that is usually the best time to buy. My buy entries are made using laddered rungs where local suppport & resistance areas are used to identify a scaled entry program. The below chart shows an impulse five wave round completed and the red ABC is likely also complete given that the subwaves for C show 1,2,3,4,5. Price is also quite proximal to the Apex; making it very ripe and near to a breakout.
The projected breakout could look like the below chart where the blue waves show a target towards 2,979 Satoshi. Now, is this guaranteed? In a word, no. Such guarantees don't exist and profitable trading is based on calculated risk to reward assessments. As an analysts, the below represents an ideal ladder entry zone.
The overarching pattern is likely a Cup & Handle as shown. The handle is retraced nearly 0.618 Fib level and is so close to the apex, it's almost unstable.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
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(Original poster @thabiggdogg)
Come on guys! Share your favourite Haejin memes! (or truths as they should be called) :)
Edit: @Haejin sent me one of his yet to be released charts, I feel so privileged right now take a look guys!
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That meme is funny...lol
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It is rare that I look at a comment above mine on a haejin post and don't reply with my spam comment...
You don't get spam, you get my worthless upvote instead :P
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I am the true cryptogod!
My TA will bring you all riches. Fuck this imposter, I am the true leader.
Haejin sucks, so follow haejinsucks!
Everyone go look at my firecoin projections here
Increase from $1.76 to $2.27
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It seems a good support and good level to add position!!
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Don't hurry, read my other comment first
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Wait until it breaks the low (purple line)!
If you want to see correct view in the chart MUST use USD ($), not BTC or any other crypto!
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I do not really understand your analysis, but you should end a great analysis with a little hint ..
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When somebody is posting because of posting it happens like that:)
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Thanks for sbd..
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This was adressed not to you:) it was for this post creator:)
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Thanks for the info @haejin
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Thanks
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Oh I think I'll check out this project and read about it a bit. Maybe it's worth to invest some satoshis :)
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haejin very" simply chartist
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your post is a great dear, deserve you to get a good ranking too, I think in a long time to make a single post, but this is my post, I follow you, may you be a lesson for me.
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pole polle polere elku rega coin ela
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Dear Haejin , I know that the error of recognition is always forgiven, but not so that you can sell your face anonymously at the price of altruism. The way you try to update patches continuously for hours is to pay a lot of attention to the many people in the community. I have been wrong and feel ashamed of it. And now I understand why you hide your face.
If you are trying to contribute for community purposes, just stop.
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Very nice post...Support you!
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Vote me
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Vote me
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I have never really been a big fan of technical analysis, as I'm more on the HODL side of things.
However, your post opens an interesting part of technical analysis though! I had never seen the Cup & Handle before!
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It is really interesting how some of these news sites seem to put out almost all bad crypto news or all good crypto news during certain periods. We're not usually conspiracy theorists over here, but it is odd that there is some correlation and potential manipulation of the markets. People read it and seem to have a doom and gloom mentality.
If we see things about regulations, we are not really worried because some of it is actually good. Yes, it is a bit scary to think about because governments can over-regulate. However, there is no talk of banning cryptocurrencies or making them go away. There is only talk of "protecting" investors. Is that really what regulators want to do? Probably not, but it is ok because those of us that are patient through these dips and new rules, have a very high probability of doing well when it all shakes out. Some big institutional money, which would drive the values of the good cryptos up, can't take the risk of getting into an unregulated market because their banks, hedge funds, etc, are heavily regulated. So, the fact that they want to regulate, but not destroy, actually validates the premise that the crypto market is here to stay.
There was someone that commented on an article the other day that said that he bought at the top and sold low and lost $500, so, cryptos were going to fail. Some early holders of Bitcoin are down 7 and 8 figures and are still bullish on the market as a whole. This is all part of any emerging market. Just only put in what you can afford to lose and hold and be patient...then, there is no need to sell too low.
I have stayed focused on what my research, network of information, and other insights tells us are the best, most likely to succeed cryptos. If the scammy ones go away from regulation, that is a great thing. It means more money into the good ones.
So, on that note, in case you missed them, here are some under-priced cryptos that we think have good teams, fundamentals, are highly oversold, and have potential to go up over the longer haul.
Cardano (ADA)
Lisk (LSK)
Locicoin (LOCI)
Polymath (POLY)
EOS (EOS)
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