Guys, guys, guys come on! We all like the post of @haejin so much and maybe a lot of you guys see him as a good friend. You do have the rights for that. But a good friend also brings you the bad news. And hé, I don't know you and you don't know me.......................and we all don't know @haejin. But if there's one thing I've learned from him: "Let figures tell the story" so that's the only thing I'm doing right now. The only story I had to put with it were the headlines of @haejin s post:
1st Blood Update: What will happen after the Handle is complete? KABOOM Time!
Cardano (ADA) Targeted for $2.73 or HIGHER!!
OAX Coin (OAX/BTC) Could be a Ground Floor Opportunity!!
Monaco (MCO/BTC) Could Fly High!! Check out this analysis!
DIGIByte (DGB): BULLISH Fractals a Galore!!
ReddCoin (RDD): Huge Bull Side Move Potential!!
VERGE (XVG): The Hurry Up & Wait Syndrome
I know this will not be the things you want to hear, but I'm just showing you figures. Even if they're not the figures you want to hear and see. I bring the bad news.....................it might make me a better friend than you think @haejin is! And remember: "Good friends can have an argument and drink a beer afterwards."
Next round is on me,
Chears
I understand your concern. Haejin calls things as he see's them. And you're looking only at weekly time frames. Projections always change, it is very rare that anything plays out exactly as you draw it up, unless you're in a super bullish phase within a bigger bullish trend, which is what we've experienced lately. But with extended and complex corrections, time is impossible to gauge.
Additionally, with say, your First Blood chart, Haejin is expecting that downward movement. Descending channels that form the handle take on average anywhere from 4 days to 2 weeks in these long developing patterns dating back several months! He is simply giving us a heads up on certain possibilities and it is on us to figure out when and where the opportunities lie. Good luck!
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They are correcting ... If you know someone who can predict how low a correction will go I want to know him too ... I'm up in RDD,MCO and 1st, bought them after reading haejin post and making my own TA, just XVG is down and is clearly in a correction. Overall on these coins I'm up. The real point is where will they be in 2-3 months because I plan a 150-500% profit (massive profits :-)). It's mid-long term holding ...
Please post some coin that dips lower than the first wave of an impulse, it will be more valuable because in that case it could be a 'mistake'. Cup and handles doesn't counts because sometimes there is a little impulse that is not the main and the downtrend continue a bit before the real one comes (cf Technical Analysis of Stock Trends :-), chapter about cups ).
Also, you are the one that trigger the buy/sell button, just read the books and make your own TA, for me now haejin is a huuuge help to spot good coins, but I ALWAYS do my own TA and take my decision from there, that's the way haejin's blog has to be used. Do not follow blindly, learn to think by yourself.
And also, BTC is correcting and could dips to 8k$ and even lower, and it could take months before it comes back to 20k$, all alts will suffer from that, it's an apocalyptic hypothesis, but at the end of the day all will go up again, charts says that, new tech adoption curve says that, and even fundamental analysis says that, so ... Just hodl or get out now, it's true that it's better to regret not being in than the opposite but here the odds are in the favor of the bulls for next year so ...
Look at the tutorials and read the books, maybe you will understand better how to use haejin's blog ...
Saying that friendly, you are right on a point, a lot of people just follow haejin blog without trying to learn to fish, that's a real problem because if it happens that haejin make a 'mistake' or a wrong guess (and it has to happen because we're talking about probabilities) people will lose money and blame him instead of their own laziness to learn to make TA. He should maybe insist more about the fact that we should do our own decisions and never follow any advice not knowing what we're doing, but you know, he can't just do that all day, he has TA to make :-)
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