Bitcon (BTC) Morning Update: Mid-Term Target $70,000
)
SUMMARY
Bitcoin (BTC) overnight price action could have completed white wave iv of C. Purple wave i and ii of white v of C could be complete. If so, the next wave should be purple wave iii of white v. This means a potential still for one more lower low to finish the correction. This could wash out the last of and weakest hands and so give the bulls the mojo build up to climb as high as $70,000.
How do I get $70,000 target? Fractal #1 carried prices from $5k to$20k so that's $15k. Fractal #2 is 4x Fractal #1; so a target of $70k is estimated.
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!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: 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.**
Thanks Haejin!
Guys,
This is the best crypto blog I’ve ever come across. Reading Haejin’s analysis is part of the daily ritual of many. It certainly is part of my daily ritual.
Lets help Haejin against this ridiculous attack so he can focus again just on technical analysis. Add whatever steem power you can to your steem account so that your upvotes can become more effective in countering the down votes. Thank you.
My reputation dropped to almost zero lol. Im not here to build reputation, i only came here to follow Haejin.
But now it looks like im some sort of a bad guy while instead all i did was talking positive about Haejin since they said we all fake accounts....we are not!
Now lets get done with that last dip and fly to the moon together :-)!
I'm running low on 100% upvotes but here's one anyway! :) Brought you back up to 6.
Bernie accusing others of doing exactly what he's doing seems to rhyme with the larger theater, here in the US...
Hear ! Hear !
Agreed. Let's help each other out here. My reputation is fine, they've marginally reduced it within the 59 range (see https://steemworld.org/@libertyteeth which I discuss in the following link), even though they've managed to harm others who are new here a lot more.
Fight back. Take their funding away. Resteem the article that @haejin just resteemed a couple hours ago about randowhale being a scam -- that's @berniesanders' creation, which he's trying to make a buck from. Don't use it, and tell others not to!
If you care to upvote the posts of mine they attacked overnight, I'd appreciate it as well. Not so they make money -- just so they regain visibility and people don't have to click extra times to read them. Thanks.
https://steemit.com/steemit/@libertyteeth/so-satan-has-been-hard-at-work-overnight-berniesanders-attacked-me-again-randomly-downvoting-several-of-my-posts
My reputation plumbeted to 21! This guys put their minds to destroying everything tey found... nothing constructive though... just ranting and downvoting.
There seems to be a groundwork of basement dwellers on steemit, who consider this network their own (little Internet sneaks probably create a considerable part of their income, this is important), and the founders don't want to lose them as they are basically the only ones who so far found a use for steemit.
As I wrote elsewhere, steemit, a comparatively bare and featureless, even chaotic network, cannot otherwise compare. It is basically a marketing outlet and public raison d'etre for the steem crypto and its blockchain...
So here enters haejin, a zen sort of technical analyst in the time when crypto is booming, and that changes everything. Here's an entertainer stranded in a backwater, and they're of course trying to protect their habitat.
I think @haejin might be best off using what other youtubers are using, patreon account etc., also post at other social networks (not much more work, same materials, he will have 100k or 500k followers in no time-kaboom!), and diversify... so steemit can keep being the backwater it used to be.
You made a good point in diversifying. Write in various platforms and see how each one turns... sort of trying markets. @haejin publishes his videos on YouTube and posts on Twitter. I guess since he posts about cryptos, Steemit made sense... we'll see
I agree with you both. Also, note that "SMTs" are coming -- Steemit Media Tokens, which will allow for the creation of many other similar social media sites. Ones perhaps in which "downvotes" cost three times the power, or, perhaps aren't allowed.
Appics is the first, http://www.appics.com/
minds.com should be a natural, they already have a payment system - and they give you free "steem" for just hanging out there, so you can boost your or other folks' posts.
They're lacking a crypto and might be interested - they are a full-fledged social network even though still in beta as well, lots of political youtubers fled there during the recent purges ;)
I'm also mainly on Google Plus since years, it's a decent network which mostly guarantees that your posts have much greater influence on the Search Engine
These people aren't basement dwellers....they are lower than hammered S#*T , may they be returned 10 fold in the energy of what they post... So mote it be... I have nothing to lose here... I only support Haejin & his supporters as he has something worthwhile to share ...I am not interested in HATE, or JEALOUSY only in positivity , sharing & community.... so get a life & if you don't like it....don't read it.... it's better than you asinine rants....
Replied to @znog who replied to you, replying here as well -- I mentioned SMTs, Steemit Media Tokens, and the first one, Appics -- http://www.appics.com/ -- and noticed that their pre-sale starts in two and a half days!
I'm staying out of ICOs for now, I much prefer the TA I'm learning here.
You're right about the backwater here, I have a feeling more communities will be forming in short order.
what else is part of your daily ritual after reading Haejin's analysis? Please share! :)
Great analysis, I hope you're right! Good luck in you battle against the whales trying to silence you
70 000 $...gosh. it seems like a long time when the tipy top in sight was in the range of 7000/9000$.
bitcoin is really an unassailable mistress.
Thanks you so much to have guided us with your knowledge and wisdom to this point.
Hi Haejin. Thank you again for your analysis. I have a question about this post that I hope you can help with. If bitcoin breaches your "i" count before it goes down (which is around $15,600) is it safe to say that the correction is already complete and the price will go up from there?
Is that 9000 you say BTC will dip down too? and you say BTS will go up to .90 while BTC goes down?
GOOOOOOOOOOOOOOOD MORNING HAEJIN!!!!!!!!!!!
Love your work Haejin. Ignore the haters, I think they're upset that your free educational content is devaluing the content many of them overcharge for and hence they attack you!
@Haejin you are always super informative and helpful. Burny is some salty whale who is very upset that you do better than he does without needing bots.
His childish responses and constant aggrivated attitude shows the community who the real valuable contributor is. Your attitude and calm collected demeanour will win out. Don't lose hope, just keep posted! Upvoted <3
Thanks for a great post friend!
“A flower does not think of competing to the flower next to it. It just blooms.” And You Are One Such Flower...
@haejin looking good this morning, nice suit
Beautiful spoken my friend!
Thank you:) @benben-ben
In my opinion the droping is stoped, it was becouse of Christmas selling, some of people want to get money from Bitcoin and the price started falling down, then other poeple in pannic started selling their coins. Now I think is stable and the price will slowly rise.
Looks like the dropping might be stopped indeed. The wave II of the expected last wave is already higher than IV of the prior so this looks like a bull run. Plus there is the inverted head and shoulder as pointed out by @dziadkowcem below; with the volume confirmed on the head.
Maybe there will be another separate downturn soon that will bring this down to 10k as @haejin predicts here. Or maybe some news will lead to it (as @Haejin said news should follow the TA.) On the fundamentals, what triggered this downturn was severe withdrawals for the holidays as happens on major holidays and the heaviness of the valuation sending weak hands along with it. The New Year holiday usually extends straight from the Christmas one and I doubt that fundamental will cascade the price down afresh like it did yesterday. So there isn't looking like another fundamental event on the horizon to send this back down again, looking right now. Follow @kenraphael for some fundamental analysis to sometimes pair with the really excellent work here.
We are close to being overbought on the 1 hour charts, as haejin says "price always drives the movement of the charts", I have seen a number of analysts with almost the same type of analysis as well. Then when the price dips again to 10~9k levels you will say people went for last minute christmas shopping to explain the event :)
You hope.
So do I , waiting for that damn dip since hours ;))
Me too. I need to sleep. 😂
That’s optimistic. Bravo.