SUMMARY
The whole Cryptosphere is following Bitcoin (BTC)'s lead in this healthy correction. This is because the similarity index of sentiment across Cryptosphere is very high. It's often called "All the Same Market" phase. Given how small the Cryptosphere market place is compared to the equities, such similar market uniformity is quite common. Take into consideration the frequencies of Cup & Handle, Symmetrical Triangles and Jaws of Wealth patterns. These are the result of sentime being quite similar across coins.
I've consistently said that Bitcoin is the moon that moves the tides in the Cryptosphere Ocean and every altcoin swims in that ocean. The same for, If Bitcoin sneezes, then the Altcoins catch the flu!
The below chart is a shorter degree of trend view of VERGE (XVG). The white A,B,C Flat corrective waves are in progress and wave C can be sublabeled with 1,2,3,4,5 (green) waves. The first landing zone target is $0.0444 where a buy ladder can be cast.
It's important to understand what laddered buying is, how it is cast and why. To this end, I recommend a view and study of my Laddering tutorial video.
Legal Disclaimer: 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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@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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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
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LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Thanks for updating Verge. I've also posted updates on several coins.
IMPORTANT Coin Updates (BTC, ADA, BTS, EMC2, ETC, GNT, SBD, STEEM, XVG)
https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-ada-bts-emc2-etc-gnt-sbd-steem-xvg
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we have three guys here for this prediction which one to believe?
@haejin target 0.04
@salahuddin2004 $1 for verge
@benkalashnikov something else
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I’d snag some $0.04 Verge
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SAME...
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Just bought $1500 more worth of steem. Gonna be investing more in steem power! Love the prices staying low while I allocate in.
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"I've consistently said that Bitcoin is the moon that moves the tides in the Cryptosphere Ocean and every altcoin swims in that ocean. The same for, If Bitcoin sneezes, then the Altcoins catch the flu!"
You don't have to analyse altcoins anymore. 😉
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Verge will bounce back just like many of the alt coins it just depends if you believe in the technology and the market. Just relax and understand that not all markets can constantly go up. You have to take the rough with the smooth! HODL and Chill peeps! Face ur fears live your dreams! :)
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This is a pretty significant crash, many of the alt coins may not recover or it will be a slow process, especially ones with poor fundamentals or use cases. Most of them have had a great pump up, now we see the dump, only the better ones recover from here.
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It is very difficult to predict exactly what will happen with Bitcoin's price in the future. Any currency can be the object of collapse. @haejin
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KAOS is a beautiful thing - when you bet what you can afford - but hell for those who borrowed.
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https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction.
Please check my tradingview and steemit blog.
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Its not only Verge.
I understand the whole Big daddy Bitcoin thing but how does this happen.
Almost identical? Synchronised movement, how?
And this is only a few coins, its pretty much across the board.
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Isn't the answer painfully, blindingly obvious?
These coins are all priced in Bitcoin, and Bitcoin went down hard.
What happens when the denominator of your value takes it on the chin? Derp.
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Hey Vynl, to explain why, I think a majority of big players knew that Bitcoin was coming down, when it broke support, a crazy amount of traders (including me) sold EVERY COIN in their wallet to collect what was left.
You could call that Fear but I call it being greedy! We now have a chance to almost DOUBLE our BTC value If this correction ends in 9-8ks.
I firmly believe this is what the mega Bitcoin whales are doing at the moment, causing fear while staying greedy.
Just my opinion of course~
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Bingo, you get it. That is exactly what is happening. So many weak hands losing their shit and calling their bosses asking for their day jobs back right now. "The sky is falling!" and "Haejin is a fraud!" lol.
Give it a month and we'll be staring new ATH's right in the face.
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Yeah but have a look at the chart, theres up movement and sideways movement too. How did "everyone" all at the exact same time sell and buy every coin to make them all move in syncrinicity?
If every person holding these coins all had a huge phone conference call and agreed to all hit sell at the same time on every coin they have then all buy and hold for the same amount of time etc maybe you could get the charts to all look the same.
Do you get what im in about here? The lengths youd have to go to to get the charts to look identical would be outreageous and yet im seeing identical patterns across multiple coins. I still havent heard a convincing explanation how this happens. If its impossible for charts for different coins to all look identical moving upwards, its impossible for them to look identical coming down isnt it?
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You are right. Noticed it also. It seems a lot of trading is done by bots / automated system. I am quite sure it is.
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Bots. Plain and simple
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Think of it as King Tide - and Bitcoin is the KING and The Tide
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Well if thats the case we dont need to do any TA on any other coin, they should all mimic Bitcoin. But they don't so your analogy doesnt work. I understand how big an influence Bitcoin has but i cant get my head around how multiple coins move in sync like that.
Why havent i seen this happen before?
Why only on this correction?
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great info.
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Nice post.
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How can that count possibly be correct. If you’re assuming the ATH is top of wave 5 it looks like your wave 1 and wave 4 wicks cross, thereby violating elliot waves. Your XVG predictions have absolutely destroy my portofolio. Down a whopping 80% from where you predicted it to shoot up from.
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Seriously? Blame yourself if your XVG is down. His charting predictions are spot on. The reason why Verge is down is because EVERYTHING is down. NO Charting would ever catch such a thing. Because the Crypto market in general is being massively manipulated.
Relax, all will eventually go back into the GREEN. Corrections like this weed out the weak hands and the garbage coins.
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I love master Lee but he has been WAY off on Verge. Like completely wrong
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Hello there, hope u notice me.
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Thank you for your honesty!
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are there any coins where the sentiment is opposite of bitcoin?
or wonder how we can find coins that have different sentiment from the majority. Would that be a good diversification technique -- not to have all eggs in tokens that express similar sentiment?
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Would be a nice idea, but I seem to think everything is pegged to bitcoin, until there are cryptos being exchanged directly for fiat money there won’t be much of a seperation.
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Could someone please repost the image of Haejin's chart as it has been blocked due to low ratings. Many thanks!!
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Jesus Christ...hit the fucking show images button instead of trying to employ others to work for you for free.
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Bitcoin has been the trend setter. Hurt bitcoin and it will take everything down.
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Everyone does realise there’s so much confirmation bias dont they? If he keeps calling for coins to go up from points where they’re obviously low and in correction, they will eventually go up because there’s nowhere left for it to drop. I can just repeatedly call for coins to go up and ill be right because eventually they will - days, weeks, months, years down the track they will.
But no one mentions it or calls him out when it goes the opposite way of his calls. They just say “Oh yeah, it’s all just part of the correction - he doesn’t have a crystal ball you know”. But then when it goes up - “he’s a genius!”
Where was his call that we were at the terminal end of a wave 5 with nearly all the altcoins and it was time to bail? He often says that best time to sell is terminal end of wave 5. If he’s such a master of TA why couldnt he see the obvious snowball rolling down the hill towards us?
Either, 1. His TA is really not that great. 2. He’s playing us all for fools. 3. He’s just stabbing in the dark in a bull market.
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I love the guy but i was starting to notice/think the same thing. Some of the "bullish" triangles he kept pointing out were just "3 desending peak" patterns.
Also, you are right about these 5th wave. A ton of these coins were at the end of their 5th wave and nothing of this was mentioned either.
Ive actually picked a few undeveloped coins myself and came out with some gains. Hes been right on the undeveloped coins but so-so with the bigger developed coins. Hes been completely wrong with BTC/XVG for over a month now.
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Thank you @haejin for this wonderful post as always, in my own opinion, I agree with you that bitcoin is the father of coins right now and without a doubt, it indirectly influences the activity of other coins too. Ladder buying is also very important, one needs to know when to cast effectively.
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it is quite remarkable just how similar the BTC ans XVG are...almost a match...if this continues then when BTC rises it could take VERGE with it. What a magical thought that would be.
The problem in a sell off as i have been there myself when there was a mini crash in Nov, you never buy back exactly the same coins, those that lost all faith in Verge could live to regret that fact.
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your welcome Haejin. anytime. ;)
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What I did with $1000 fiat today
Ada Cardano = $500 at 4850 sat = 952 units
FunFair = $200 at 700 sat = 2850 units
Groestlecoin = $100 at 7400 sat =115 units
Aragon = $100 at 37000 sat = 25 units
Stellar Lumens = $100 at 3200 sat = 250 units
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i'm buying more xvg
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Seriously do you think it will recover ?
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I was wondering the same question.
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You should STOP, please do not post anything. Was only pure luck when you hit it right and that was in December , all altcoins poped up.
For example on Verge but other coins too, you are posting every few days that will go up by hundreds percents, and is dropping even more every time you predict, fact : Verge is down by 1000% since you said that will go to the moon and since Verge was 15$... just STOP is not funny anymore, people losing money and you give hopes every day, maybe will go up where it was this year, maybe not...
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I warned the believers lots of times that this man is a bad joke.
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$ 1 predictet soon,is now a year away.Looks like you cannot see correction comming in your TA.We cannot call this correction,this is crash.
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Thanks man, yeh generally if youre ignorant you dont reply - regardless of whether youre a petty fool or not
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Not quite sure why my comment has been flagged, i felt it was fairly constructive critisism and open to @haejin for reply - shame really because i would love to hear a response. I can see what @berniesanders and @randowhale were talking about with haejins followers downvoting at the slightest bit of doubt of his work.
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Oddly enough, it was downvoted by one of the anti-Haejin accounts...
I guess it didn't make any friends at all.
PS - Being willing to change one's forecast to fit new info isn't a weakness.
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Here is a master piece from the master 8 days ago:
https://steemit.com/dtube/@haejin/xolanri5
Hopefully you believers bought a lot followed the master advice.
I am honestly saying this is a sick world where this piece of shit can earn a lots of money giving people shit advice. But I am also honestly saying I can congratulate this shit person how he can ride this shit waves on the shit ocean.
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How about Quantstamp and Vechain? They seem to be holding up pretty well against the shitstorm that is hitting crypto. Looks like a good investment option.
I made a post about this:
https://steemit.com/vechain/@jdvzs/what-to-look-for-in-this-crypto-crash-an-assessment-of-vechain-and-quantstamp
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Always thank you.
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Could this be possible too ?
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Possible yes, as double ZigZag 5-3-5-3-5.
I would then put the (3) on your C though for Verge (you are showing a BTC/USD?).
My primary is, that the correction is nearly done (similar to haejins count on XVG/USD).
I even have an alternate count in mind, where the E wave is done and we are going up again.
The correction often goes back to the 4 of the impulse wave, which was 608 on 22/12.
Also I could count 5 subwaves
Depends how the short term uptrend right now develops.
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I had to turn my screen upside down, the graph is more convenient that way.
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very nice. thanks
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Incredible...my bank has just cancelled my crypto purchase on COINBASE. This is there new policy!
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Time to change banks!
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Which bank??
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Capitol One
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???..
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@haejin I believe Investors were into these coins for a reason, to make Money. Once Bitcoin corrects, people will buy Bitcoin like a stampede showing a 'slingshot' (as you put it) on the MACD, this growing trend of Alt-coin investors will flock to these Sales like it's Boxing day!
This is just the loading screen! 2018 will create the greatest amount of millionaires on any other market and I am so ready to play this game! Thanks for the cheat codes Master Lee <3
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