SUMMARY
Consolidation is similar to "digestion". For Cryptos, when a price undergoes a near vertical rise and corrects, the violent upmove in price has to be "digested". Price corrects in a decline but also sellers and buyers need to churn the price between them until the correction completes or sellers sentiment becomes absorbed.
Request Network (REQ) has been digesting its prior five wave up via a correction and a sideways consolidation. The complex wxyxz (red) could be complete if the MACD has broken out and maintains higher altitude. Is a lower low possible? Yes. However, possible is not the same as probable. Given the contour of the correction and the current sideways action; price should start putting in higher highs.
The white rectangle roughly outlines the basin phase and since the MACD rise should support higher prices; the blue impulse waves outline a potential price pathway. The sideways action can extend into May and if so, it'll likely mean another round of minor, smaller degree of trend wxyxz complex sequence.
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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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Good analysis. thanks
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In other words, the good gains won't be seen until summer.
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after summer @cryptomnemonic
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That's too long for me.
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Too long? There's no other investment on earth that will show you a 10x return in a few months. If you have more money in crypto than you can afford to live without for a period of time, you invested too much and gambled on a return before you needed the money.
Otherwise, just relax, and accumulate.
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We'll see.
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bull... buy buy buy @cryptomnemonic
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follow me if you want a ¨h@cK€r$¨ take on what's really going on.
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Thank you Haejin! you are awesome!!
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He is a SCAMMER
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Great analysis, and something that I've seen as well. Also if you look at the fundamentals of the project, they're starting to pick up the pace, and will even be at Consensus 2018 in May! This correlates right around when it should start spiking up again.
Great TA and analysis for a great crypto.
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Nice post with so much informative post.
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Hi @haejin can you please do an analysis on Ambrosus (AMB) and Devery (EVE). Appreciate your help on this. Thank you.
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You tried before to censor my content via an ill composed open letter. And yet here you are trying again to censor on votes. You're basically threatening me...giving me an ultimatum saying that IF I don't comply to your requirements, YOU will attack. BTW, I have been up voting others and if you didn’t even bother to check before threatening, it’s not my error.
Have you considered such self directed censorship initiatives can cause the exit of one of Steemit’s biggest investor? How exactly does a censorship forced exit of $1.45 Mil help Steemit? Better yet, have you also considered how censorship prevented the potential doubling or triple of the $1.45 Mil investment? Do you even realize that your type of censorship is actually driving away investments?
Meanwhile, here is just a small sample of your self upvotes of your own comments. I self upvote as a protective moat against the trolls and haters downvoting. What is your reason?
If you can compell @done and his posse as well as @fulltimegeek to lay off their downvotes on the day seven posts, I’ll have a greater reason to reduce my protective self upvotes.
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He's so generous in giving out 10% of his votes to others ;)
There's a difference between censorship and disagreement over rewards.
I don't normally self vote, but I don't think I deserved the flag.
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@transisto what you are doing seem really reasonable but I don't think this is a nice approach. First @haejin has investor millions of dollars into steem power, that is a good way of increasing the value of steem.
Another is that the power used to flag him for not supporting the steemit community could be used to support the community yourself.
Steemit is like the world with people having different ideology and reasoning. Just do your good will without waging war with others (trust me you can't understand everyone's reasoning). I wish I could receive this power used in flagging. It is a waste of resources. War doesn't promote the platform. By now the trending pages should be reading people earning above $10,000. Steemit will not crash.
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What @transisto is doing will make more rewards available for others by reducing what 'H' gets. The pot doesn't shrink. This is responsible curation in my opinion, but I'll probably earn another flag for saying so.
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It doesn't @steevc, there is no finite number of reward that can be gotten in a day. In as much as there is steem power, it can generate reward. Steem is valuable because people invest in steem power. What we really what to do is to encourage people to invest in steem power. Flagging doesnt help matters.
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There is a limited reward pool each day and certain people are taking a lot of it. I want to see a wider sharing of that. I'm clearly not the only one who sees flagging as a useful tool
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Is this how the whale mafia protection racket works? Each whale forces you to upvote the people or groups of their choice, or you get downvoted by that whale?
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Yes.
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GO FUCK YOURSELF!!!
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I'm 100% with you on this.
Agreed.
But here is a question. What about people who are doing ridiculous self-upvotes and/or circle-jerks that doesn't happen to be @haejin or @ranchorelaxo ? What about them?
I think the only real solution is a protocol level change. We can already calculate how much % of each person's VP has gone to each account. So what if we code the blockchain to burn the additional rewards generated when 1 account uses more than X % of all votes on a single account.
Nobody's voting patterns are not going to be affected. The posts would also gain high visibility. When rewards are burnt the STEEM inflation goes down and everybody benefits without affecting any of the ongoing behavior. Eventually voters will decide if they want to upvote authors purely for visibility instead of giving them rewards and getting curation or whether they want to spread their votes among few people.
This method requires additional work from the devs. But it's fair for everybody. You are taking actions against @haejin because he is visible. Dolphines may manage to do the same without being noticed much. You can only keep an eye on few whales. Whales do have the highest impact. But if they are th only ones getting fingers pointed at, you are doing blockchain wrong. In blockchain Code is law as code is unbiased and affects all universally in the same manner; objectively.
So have a chat with the witnesses and the devs. Put a simple cap and everybody can go back to minding their own businesses and engage in positive actions :-)
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What about users with 10, 20, 100+ accounts? The code wouldn't prevent them from forming circle-j*rks. It would just encourage a bunch of bot accounts to spread out the self loving.
I'm certain this is already going on, with some of the posts I've stumbled into.
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At least those circle-jerks would be easier to spot. Even the biggest defender of the reward pool has 50+ accounts. We could also add dynamic payout limits based on the number of unique upvoters. This would further require abusers to create more and more sock puppet accounts making abuse easier to spot.
It's not a perfect system but it is objectively better than what we already have.
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Sad.
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Yes HAEJIN is FUCKING SAD!!! HE makes THOUSANDS per day on here, but will flag anything I say about him so I don't make a penny on the post!!! He is really GREAT FOR STEEMIT!!!
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He worries so much about me. He has flagged my account to -2 TWICE. I'm NOTHING on here. I have no STEEM POWER & yet this dumb fuck had me on his mind all day long. He makes sure I can't earn 2 cents on a post. What does that tell you about him? He makes thousands per day, while I try to scrape up a few fucking cents to have this donkey come flag me. All because he didn't like some fucking memes about him. BOO FUCKING HOO!!!! If memes really bother you @Haejin you shouldn't be on Social Media. You should be back in your little safe place you fucking snowflake mother fucker donkeytard!!!
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Go FUCK YOURSELF!!!! You FLAG anything someone says about you that you don't like. You WORRY so much about me. That shows how fucking stupid you REALLY are!!!
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@RanchoRelaxo you should turn #Hgin in & collect more rewards. You will receive 30% back from the IRS.
https://www.irs.gov/compliance/whistleblower-informant-award
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