SUMMARY
Here is the chart showing that Bitcoin is at a Critical Juncture!! Today's high was around $11,859; not too far from $12k. BTC needs to decisively BREACH the upper purple trend line to sustain the bull case!! How price reacts will be very important.
From a Bullish Scenario:
I've moved the micro waves up higher with the wave iv being next. This is the bullish case and would mean that the critical juncture would have passed by IF the higher wave V target is hit at $13,103. However, the lower bottom white line of the parallel trend has to hold; though, a brief bull wick would be favorable. AGAIN, the bottom white trend line needs to hold!
IF price only declines to complete the Right Shoulder (RS) of the inverted Head & Shoulder pattern which my blog post had shown for several days; it would also be ideal! Let's see how the overnight price action goes.
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
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Hey haejin...i tell you what...you are a monster...real monster...who destroys the account of newbies here. I have done nothing but said truth on your post and you destroyed my reputation (steem)... real one you cant even touch...
NOW YOU STARTED THIS...AND I WILL PUT THE FULL STOP.
fuck you and your pathetic fools who wander around here with no clue...just greedy people like you...they want to be you...they treat you like crypto God but u r an asshole... YEAH no one can predict BTC and i know what you gonna say now..."but i don't predict it" but these assholes here wandering to get a signal to trade and they will surely one day put blame on you of their losses...bcoz BTC don't listen to your father...and you set targets which can be changed or are very long so that you prove right...bloody ******* when will you understand crypto... OH YOU CAN'T...NO ONE CAN...YOU CAN'T UNDERSTAND IT....99% PEOPLE CAME INTO CRYPTO TO MAKE DAMN MONEY......ONLY ONE MOTIVE....GREEEEED. THEY KNOW NOTHING ABOUT IT WHAT IT IS....INFACT NO ONE ON THIS WORLD TRULY KNOWS...IF I ASK ONE TO FULLY EXPLAIN CRYPTO AND BLOCKCHAIN...THEY WILL PEE IN THEIR PANTS....SO HAEJIN. You are nothing without these fools....and carry one everybody...until you lose up everything.
I DON'T CARE IF MY ACCOUNT GETS DELETED ....I HAVE SAID WHAT I WANTED TO. Bye GREEEEEEDIES
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2522 people looked at this top notch analysis till now but only 183 voted !!!
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I agree, Haejin's analysis is top notch more people should be upvoting! Certainly looks like a reverse head and shoulders could play out as well as he pointed out... Let's hope it does and we see a strong break of that falling trendline!
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I wanna vote, but how ? I am a newbie here.....
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Welcome to Steemit !!! simple just click on the green circle next to the dollar sign and chose the percentage you want to us for the upvote
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You are right man! we are talking about Haejin who is going to be one of the paradigm about crypto currency analyst, actually he currently is :)
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@ haejin, pls keep up the good work, quite a number of people are newbies and might not yet know how to upvote, perhaps its not so obvious, took myself quite a while before i noticed the upvote sign after various comments of people talking about UPVOTE! UPVOTE! UPVOTE! UPVOTE! UPVOTE!
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Yes I think the UI could use a look over from a marketing team. Fine-grained analytics could really help this site. Anybody know who I could talk to about donating some time to the project?
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Some of us just come here to look around. Its not like every one of those 2500 people are putting on trades amd noy appreciating it. I read haejins posts a couplr times a day cause i enjoy it not to take and not give back. Although i did upvote this post
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No way sir,,, i Can't live without your post ,Sir...T_T
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Please don't go completely offsteem @haejin.. Even though the wind blows hard at the top, you are a backbone for so many line artists here.
📈 Votes and earnings can also be labeled in Elliot Waves!
Here is my primary count from yesterday:
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I really enjoy your blogs and follow you for some time already and even with the attacks and drama, you very well increased your rewards on the long term. do you really believe that an average of 300$ per post is that bad that you would consider going private?
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Well man, The point is that the upvotes are quite few compared to the viewers.
and Guys! for me, his post really helps me a lot in that those posts indicates that where the crypto currencies are going in real-time , which makes me stay calm even with the downwards trends.
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it is not the amount of upvotes but about the revenue he generates, he would much rather have 10 upvotes and 1k$ than 1k upvotes and 10$. and I never told his content isnt good, I enjoy it a lot. still I'm wondering whats the revenue he wants for his posts since he is mentioning about going privat.
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This is free market - the seller wants higher price that the buyer wants to pay. So, the seller chooses private buyer. 😉
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I agree! Pretty greedy attitude if you ask me...are you here primarily to help others or to gain $$$? You are already doing both but you seriously want more?
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Nooooooooooooooooooo.....!! Personally i upvote when i studied the material.. So i can find myself back in this jungle of knowledge, you give knowledge faster than i can study :)
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Plz don't go private ;(
But IF u go plz info.
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You can't be serious. Have you already forgotten what your rewards looked like a few months ago? You've become greedy real fast.
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u must be joking, u make a nice amount of currency or i am wrong? must be a nice amount per hour ;) dont go privat! i believe you will be loyal to your fans!
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its really what you would rather pursue , when you are enabled with such a skillset as yourself the options are virtually limitless as far as where and how you choose to share your knowledge , you have the ability to offer a essentially boutique TA and crypto asset analysis service , something which can be done %100 on your terms at your price. Figure out what would need to be done in orderer to supplement the income you earn here into a new platform, if it is not too daunting of a task and you are able to ditch the drama , stress , accusations etc., you'll gain greater stability/sustainability , while you are still able to do and share what you love and earn the rewards for doing so. You do keep it real bro , props to you for that , I'm not sure if a nuclear bomb exploded while you're doing an analysis if anything in your tone or demeanor would change maybe slightly... much love
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TA :( lolz
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@haejin , looks to me like a bull wick but I could be wrong...
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Bull wick is at bottom trend line, not top.
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on Gdax it it went below 10,700. Does this means it will go lower low in case if it doesn't return back in the channel?
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I understand, I guess I am too quick to make an informed opinion on the wick that is going down on GDAX...currently below 10,800 so let's see if price goes lower.
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It just dropped below 10800 on gdax. does this mean we’ve broken out of the potential head and shoulders?
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i guess not necessarily, the head and shoulder doesn't have to be symmetrical
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Could this also be a scenario ? : https://www.coinigy.com/s/i/5a8d39e945acc/
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This is what we're all watching for, and the reason he keeps saying that the bottom support line needs to hold
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I am in at 11300, no idea what to do. Should i commit suicide
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This is never going to end. It is going to be even worse. So, better sell everything and never look at cryptos again.
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You should sell now and never come back to crypto if you‘re afraid to lose money.
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LOL, how many times to people have to say HODL!? Think of all the poor souls that bought at $19,800. Must be a HUGE stack of bodies piled up by now
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If you meant it even 10% just sell and never come back! Otherwise start saying goodbyes to all friends and family.
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lmao
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But seriously, no.
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Think about your goals. What is your timeframe? Do you think Bitcoin will be higher later in the year? JMO but I think one day it will be over $100k. I believe Haejin thinks so too. I also believe it will be a very rocky ride.
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GAZUUAAAA
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Now that hilarious !!! hope this is not a representation of BTC
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Probably the one who bought at $20k and sold at $5k.
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I've counted a full 5 waves up, (price turned at the 127.2% fib level) and I expect a requite correction now. If BTC can form an ABCDE wedge directly under the support line it could easily break the resistance by being able to test is multiple times.
As well this confirms a right shoulder if it can meander sideways enough. (I'm only reaffirming what Haejin has mentioned in the above post).
Awareness is key! If price decides to retrace drastically lower lows are on the table.
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I see this possibility is high.
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I would really like to see that head and shoulder pattern. One more buying opportunity!
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Thank you for your analysis Haejin. Many people left at the beginning of the year and lost hope in BTC. Bitcoin will break the upper limit and will continue its upper trend. Keep up the good work!
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What is the bottom white trend line number that has to hold? Looking on a phone and not a computer so hard to read. ???
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It has to hold ~10968
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It has to hold 10800. However a wick below this point is not sign for alarm as long as it comes back into the channel. In fact that would be ideal as it is more bullish.
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What do you mean by going farming for cash? And are you saying sell BTC?
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Yes sell and have cash ready to buy a potential low or after bull confirmation.
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Haejin... If you nail this, you are the man! Seriously, you bring a steadiness to the chaos of all the crypto TA gurus. Thank you.
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I really enjoy your blogs and follow you
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How many of you read what he says?
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Not many it appears
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I'm in @ $8400, so I am considering a sell point at $9500 so that if it breaches far out of the lower white channel I can buy at around $4k-$6k. Thoughts?
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It is your money and your decision. 🙏
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Good luck man! :)
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Not a bad idea if the pattern shows it is going down but just make sure if it does that it isn’t a bull wick where it can momentarily go outside the lower white channel and then quickly bounce back inside.
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I did this same thing a few weeks ago at $11,500/$8000/$6000. It worked very well for me in this instance but it's risky and stressful. I'll be watching closely considering the same approach this time. Good luck.
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God bless you. Please keep it going on. Your intention to help is a great aspect of your personality.
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Thnx Haejin, btw smart move changing your photo!!
#Branding
And, the scumbags on here cant use your face to do stupid GIF things etc with!! Thnx for what you do!!!
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The best Analyst in town ! :-)
Please do an Analyses on Market cap.
I think a lot of people are very curious since it basically determines the full market.
If you have time ..
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so, what the best option do we have here? should we have to wait or to buy /sell now.
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When will it get back up?? Thanks for analysis btw...
Also support me plzzzzzzzzz.🙏✌️thanks
https://steemit.com/cryptocurrency/@thereaper1233/mainstream-media-spreading-f-g-fud-in-india
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just trying to add some value here for you!
great analysis :)
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I liked your post, keep it up, have a good day and good luck.
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Good analysis .. thanks for the information
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wow, it the good , i love you
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Clif High mentioned that BTC will reach $13,000 at the end of February
Lets see if he is right
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bitcoin price last update
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and no bearish scenario? could be the beginning of the final wave 5 from early 2017?
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Hey Haejin can you give your opinion to my blog. It will be nice from you
https://steemit.com/steemit/@szr52/how-do-you-define-the-success-of-a-person
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Looks like the price stays well above $10k so far. Good sign?
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잘보고 갑니다^^
Thank you for posting :)
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Welcome @haejin . I hope you enjoy here as much as I do! Nice post, I will follow your account, please follow me at @rasel49 and give a upvote to this comment.
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