BitShares (BTS) Short Term Consolidation
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SUMMARY
The below shows my short term outlook for BitShares. Forward discernement is showing an a,b,c,d,e triangle potential as shown in below chart. The alternate is an a,b,c and if so, a bit more down, but this is an alternate and not shown in chart. The white waves target now $0.52
The below is the BTS/BTC pair and the blue waves shows one more higher high as it is behined the USD pair.
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?
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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:
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.**
I love me some BTS....and STEEM.
Go Dan.
Both will change a lot of lives.
Definitely. Already changed mine. Can’t wait to see bts at a dollar
That is awesome @tt-dogg.
Mine isnt changed since I havent sold a single token...@haejin might not be the end all but I have not seen him as enthusiastic over a token as he is with BTS. That says something to me.
I wont hold him to his $364...I'll settle for a cool $100 a token and be grateful.
Always good to see you.
Yes indeed! Go Bitshares, Go Steem! and go EOS!
Music to my ears. Sir.
I gave some friends of mine little bits of Dash or Bitcoin in the spring when it was much less expensive. Now I'm helping them roll those profits into bitshares. Just trying to pass along the good fortune I've had. This is how real wealth and freedom are generated!
This is really true though - "You can lead a horse to water, but you can't force it to drink."
Great job spreading the gospel!! You're a good man!!
Thank you Lyndsay! If things keep going like this, maybe we'll buy a summer place in Nova Scotia :)
Love it! Abundance is best when shared. Onward and upward!
Love your tag line, following you now Pyramid John. Music and food, I get it!
I had a margin trade that got force settled last night during the correction losing over 20 thousand. Very hard on me and unpleasant. Learned a big lesson master Haejin. Must be more cautious.
This happened to me as well. I had good profits going on and then I actually lost almost all of my initial deposit. I actually stumbled upon Haejin just after that. We both learned the hard way, but it's a part of the process.
I wish you MASSIVE profits!
A good trader is a bad trader who forgives himself for his mistakes and learns his lessons and tries again!
I never forgive myself I’m constantly arguing with the voices in my head. Lmao.
A great Trader today could be a bad one tomorrow,10 wins can be undone by one loss. Lessons never cease.
Sorry to hear about that. What did you leave your collateral ratio at ? Here an upvote to get you back on your feet
margin training is not cheap
Margin trading in DEX is interest free. As long as you keep you ratios high then it’s less risky.
One of Haejin's rules is no margin trading, it will bring your account to 0. With the volatility in cryptos, this is especially true. I only ever do it very short term when I want to put on a position and move fiat into the account later.
i have 8X collateral ratio.... bts would have to correct to a 80% or more for me to get margin called....im not really concerned plus with no interest its also less risky...when i sense a top...way before the top i close out my margin positions...wait to bottom out then reopen again.....haejin has his rules...i have mine...i have been trading crypto since 2010 and mining also fyi
plus i have an alarm set when BTS gets too low...if it gets too low i can close out my margin position in seconds with bitUSD in reserves or i can reduce my ratio all the way down for a force settlement...too many ways to skin a cat...
Yes, with an 8x ratio, you’re pretty safe lol. I think for 90% of new traders out there, avoiding margin is a smart move.
yes that we can agree on as newer traders are greedy...me i do not need to be greedy as i have enough....thanks matthew for watching out tho brother
What margin were you using? 2x? Maybe try 4x next time to be more conservative.
Sorry to hear about this... I have a margin position but have my ratio at 4:1. This is still a low volume market which allows big holders to push price around. I may close out my position until the volume picks up to avoid this type of situation.
Could you please analyse Decred?
Haejin, great post as always. What made you lean towards an ABCDE vs an ABC correction? I realise you have an alternate not shown in the chart. But which is more probable and why? Much appreciated!
a,b,c was my alternate, it'll be different paths but same destination...UP!
it took the ABC and shot UPPPPPP
reasteam complete please check my profile
@miti downvote
rea steam xD resteem...
Please don't SPAM... Take a look in this before hurting your reputation.
anyone watching digibyte? thoughts?
I thought we'd see a breakout yesterday and today is hopefully the day.
@haejin good job bro.
thanks for share
Get them while they are cheap!
Thank you!