BITCOIN (BTC) Mid-Day Update #2: BOTTOM Could Be NEAR!!
SUMMARY
From the onset of this correction, SELLERS have tried with all their might to knowck down BTC price to a level that would create a crash scenario. NOT WORKING! I present a very detailed Elliott Wave count below of the Wedge pattern. All subwaves have been labeled and the significance of labeling subwaves is that it allows a good degree of confidence in the "geo" positioning of the correction. Note the very last blue five waves (i,ii,iii,iv,v). All five are labeled. This is a bull wick day as price temporarily pierced the lower white line of the wedge pattern. IF the blue five waves represent a completion of the last remaining Fifth wave of this wedge pattern...Could the Bottom be in?
Greater probabilistic confidence can be gained by counting subwaves of higher resolution. Below shows precision placed five waves (white 1,2,3,4,5) of the blue fifth wave of Wave V of wave circled 5. They seem very complete!
I had shown this fractal of Head & Shoulders before; these had NOT been volume confirmed! Each fractal has a parent and child H&S pattern as shown by the larger and smaller boxes. Each subsequent fractal is very much smaller than the prior. Today's sell bottom reversed into a bull wick. Final five of five of five subwaves are in and complete.
The selling power could be nearly spent. The BOTTOM could be confirmed IF price reverses and breaches the upper line of the wedge in an impulsive manner!! Let's see how price activity moves.
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
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Tutorial on the use of Fibonacci & Elliott Waves
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Love you Haejin. My favorite Ellitionician. You've got my witness vote and I'll keep upvoting :) I love your dtube videos keep those coming
Great idea!! ! Thanks for everything!!! HODL BTFD👨🚀
At this point I'm hoping the bottom's more or less been reached, running out of fiat ammos!!!
same here.. breach doesn't seem to be very impulsive for the moment.....
U.N.I.T.E.
YOU’VE LITERALLY BEEN SAYING THE BOTTOM IS NEAR FOR A FUCKING MONTH. If anyone thinks this guy is a good TA analyst theyre a fucking idiot. If i just consistently keep calling a market to go up or down guess what, IT WILL EVENTUALLY.
Haejin is literally so crap. All he does is change his predictions every time he gets completely debunked. Look back months ago. He was saying cast your buy ladders THIS IS THE BOTTOM! when it was 15k. Look at his alt predictions. Totally invalidated. If you look objectively and dont be blinded by his claims of awareness and that he’s some sort of guru you’ll see that his actual numbers and predictions are worse than the average punter.
Haejin your a cool guy and i love your analysis but you keep moving the wedge. The only people that can save Bitcoin are the banks and wall street and they are watching on the side lines laughing at the mess they created.
Yeah I also noticed that moving wedge. Haeijin is a sneaky follow. Judging by his latest update, it looks like he's finally given up on that "bullish wick" hypothesis. It's clear that Haejin shifts his predictions based on the prevailing winds. Just go back a few weeks and look at some of his outlandish alt predictions which never came close to materializing. Of course, newbies, who want an "expert" to confirm their biases fall for it every time.
i am a new follower to your page. its good to see that through all the abuse you are still putting out work.
keep doing what you do best.
this is a community and we need to pull together.
A few hours ago I did this analysis with possible support points and I think that in the climb you can make a shoulder head inverted shoulder.
I await your comments. Thanks
Overnight price should show us the next steps.
Thanks again, these updates keep the calm.
Have been trying to learn how the read the MACD, for an additional method as well as EW, do you see an indication in the MACD of a reversal? Perhaps I am using the wrong MACD chart, as I cant see it...been using Bitcoincharts.com
Still heading downward. Wondering where is bottom. lol
Keep it up!
So was that the long term bottom? We're back to $7551 BTC as of 2/6/2018 !!
Thanks.
I hope it's the bottom. This blood bath is insane! Everything hit a lot lower then I would ever have expected!
Thanks Haejen you are truly a master at this.
Hey berniesanders, I like Bernie as a politician but now I do not like him anymore and would not support him because of your BS post here. That makes me think if Barnie also thinks the way you are thinking and posting here.
I have been charting and re-charting Elliott waves as I observed price action today. Your analysis makes me more confident in mine, so of course thank you for sharing your perspectives so frequently. I also really liked your Head & Shoulders fractal...I never even thought about looking for something like that or what it's significance could be.
Fucking bear markt ahead :-) Soon all your followers in minus and build bigger SELLWALL.
Get ready for 5k... 3k... 1,3k.... in this order. If we dont bounce at such levels just cry...
Any one have a take on how the traditional market is/will affect crypto?
Thanks. Great info!
this is great and helpful analysis for the rest of us...thank you for your insights. Tonight will be very interesting to observe if the bounce occurs. Thanks again.
Could it be a double bottom ?
I ladder my buys. I even ladder my ladders.
Pray for the impulsive breakout
Thank you Haejin for your unmeasure generosity in sharing these valuable knowledge and info
He’s not generous at all. He’s doing this for personal profit. Look at the record of his calls. Most of them contradict each other and he puts out posts for the sake of posting even if they contradict his philosophies like altcoin hurry up and wait. He constantly shills a bull market. He always claims he does no harm but he’s doing a lot of harm to people by actively promoting himself as a guru and then throwing out blind predictions.
@haejin
Is this and ending diagonol of an ABC 535?
drew this chart yesterday around 20 hours ago. Believe an ending diagnol means a reversal of the degree highers trend, meaning we are indeed heading up, or could the reversal also become a sideways slog?
Please note I can see where I think I miscounted and this didn't quite play out, if the high between the opening high in the diag and the end of wave 2 high, but the one closer to 2 is counted, then that count brings this diag to completion now, as opposed to needing one more lower high and lower low to complete. Counting that as a wave, even though it doesn't quite hit the diag boundary also removes doubt over the ABC between end of wave 1 and end of 2.
So i really hope i miscounted :)
분석 잘 보고 마음 잡고 있어요. 분서구감사합니다.
So, to confirm bottom, the price must break $9500. It does not like it would do soon. Hope so anyway.
I can see it getting down to around 5000 before it starts to go up again.
First to say this is a great TA !
tx
Is Tether a risk or not according to you?
Risk to cryptos in general? Maybe. Risk to holders of Tether? Absolutely. Use bitUSD!!!
I believe tether could potentially have issues in maintaining 1:1 to USD
Thank you for the info!
Thank you Haejin for what you do!
Nice, this is the count that I had posted as a reply on your last update; seems like we're on the same page (y)
Haejin, do you think this will be a long recovery?
Thank you
I think we will be dippin' one last time, to around 5000k. That's where last years September rally found its higher high. This area of support line has not been properly tested, so there's still a gap to be filled.
I hope is the bottom......
Thank you for the update~
Jaws of Death for BTC...can you see it hitting 700 on the bottom side?
great post check my article on the stock market correction and bitcoin
https://steemit.com/cryptocurrency/@cryptonegus/impending-stock-market-crash-and-crypto-boom
Love this idea and workaround!!! And really love the post. Only wish I had more cash. I'm buying GBTC in my retirement accounts, where I do have cash available.
Nice job on the call. I thought we were out of the correction but you were right on this one. I am loving the 1-5 motive waves I am seeing. Keeping fingers crossed we bust out!!
Thanks for keeping it up in face of these unreasonable crazies hating on you for posting quality, albeit opinions, and being rewarded for it.
사랑합니다. 해진사마님!!!
I am expecting $25k by the end of June 2018.
Please let me know your thoughts.
Thank you
Haejin, I find your explanations to be the easiest to follow. TA is a guide, not gospel so thanks for taking the time to educate the uneducated in TA, such as myself :-)
Haejin is literally so crap. All he does is change his predictions every time he gets completely debunked. Look back months ago. He was saying cast your buy ladders THIS IS THE BOTTOM! when it was 15k. Look at his alt predictions. Totally invalidated. If you look objectively and dont be blinded by his claims of awareness and that he’s some sort of guru you’ll see that his actual numbers and predictions are worse than the average punter.
Thank you for useful info!
@haejin Have you read this https://steemit.com/bitcoin/@xexylol/bitcoin-a-bubble-a-ponzi-and-an-environmental-disaster-for-the-head-of-the-bank-of-central-banks , what is your opinion ?
so I've heard. awts, thanks for this. Following you now, hope to hear from you as well.
https://steemit.com/ethereum/@matroska61/bitcoin-is-melting
Haejin is literally so crap. All he does is change his predictions every time he gets completely debunked. Look back months ago. He was saying cast your buy ladders THIS IS THE BOTTOM! when it was 15k. Look at his alt predictions. Totally invalidated. If you look objectively and dont be blinded by his claims of awareness and that he’s some sort of guru you’ll see that his actual numbers and predictions are worse than the average punter.
Always thanks for your sincere analysis everyday. Im every checking your analysis. I dont think its crushing coin market, but im wondering what specific reason affect this down term. Because of goverment? Or current tether issue? Many people are now frustrated and shocked at too much down . We should think logically, there are up and down always at crypto market , and bit coin went up extremely, for severals month. So this correction is necessary.
A few hours ago I did this analysis with possible support points and I think that in the climb you can make a shoulder head inverted shoulder.
I await your comments. Thanks
The double bottom seems to be confirmed! Good one
Do you think it makes sense to get some cash back at around 9000, and buy again at 7930 or so.. ?
Maybe 20% of the portfolio could be laddered this way, what do you think
Good move but before selling a 9000 confirms that the volume decreases confirming that it will fall back to 7930
For the moment it looks like we're in for another dip, target 5000 or so.. what do you think?
good work brother :)
Write your comment below Haejin's so -18 sanderburn can't flag you.
haejin, in elliot each leg of a corrective triangle "MUST" have 3 subwaves, but in your chart wave 1 has 5 subwaves