Cryptosphere Global Market Analysis
SUMMARY
The total market capitalization of all listed coins can be charted as shown below. The symmetrical triangle line drawn shows a potential for a critical juncture. The apex, or the point at which the two lines intersect is very proximal to current price. This means that volume is low and price is waiting for release from the confines of the contracting lines.
The key question is as to which direction the breakout is likely to occur. Elliott Waves show that the correction is probably a ZigZag (5,3,5) type. Note the red abc and how red A has five subwaves. This is what marks it a ZigZag. The red B wave has three subwaves, red abc. The final red C wave also shows five subwaves. Wave 5 is likely not yet complete and so an incremental lower low is likely. However, beyond that, this ZigZag can technically be considered complete. So, if ABC correction is complete; what happens next? A breakout to the upside is the most probable outcome after the final wave 5 of C completes and that can be any moment.
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
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
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today is a bear market and we need to hibernate and be patient. :)
but my friend a bear who is dying what should he do?
What do you think about this analysis?
Thats brutal. It's a bear market stop picking on him. Things will turn around and we will start making money again.
No, the truth is you don't know the difference anymore between a lie and fact.
Hahaha I love it that made me lmao
To be fair Heijin gives me ideas about my own analysis but I don't always agree with him
No one is always right. I'm just trying to show people that he is being reward way to much for what he provides here. Anyone can draw lines & letters on a chart. No one actually knows what Crypto will do. It can only go Up or Down. I can draw charts like that all day too. Who is gonna pay me $150 for each of my post? You guys are upvoting him for no reason. He provides you NOTHING. You get nothing back from him. Guarantee if you upvote my post you get rewarded. You don't get rewarded from upvoting Haejin. One person gets rewards from Haejin & that is @RanchoRelaxo.
Seriously @thabiggdogg. At first I was a wide eyed rookie and believed everything he said, because it was a bull market and he couldn't be wrong...but after following him for months into the bear and gaining more experience, anyone with even small brain capacity could see that he just puts numbers and lines on a chart and says the opposite from day to day, and pays himself out in astronomical proportions. Fucking quack.
That's right. Anyone can make charts like his. All his is doing is just showing what's its done. Then he will draw a line showing it going get a big gain. No one knows what it will do. It depends on so many things. Governments, networks, people mining it, & etc. Its not like saying GM production plat caught fire. And it won't produce as many cars this money. I'm sure their stock price might take a hit then. Haejin has never talked about anything else. All he is doing is trying to pump up some shitcoins so he can sell them when his some of the dumb followers he has buys them.
If he was REALLY that good, why hasn't he ever shown a picture about himself. Why isn't their any details anywhere about who this person is? I know why... Because he is a SCAMMER.
This was funny, you posting chart on total marketcap and I did a short story on USD historic price in BTC :)
Just how much is a dollar worth?
This is the slow months in market for sure :)
THIS IS MORE FUNNY!!! My Charts Are Way Better Than Haejin's.
@mdkaufman21, @haejin has indicated that BTC trend (Down Wave 5 of C) will likely complete with incremental lower low of ~ 7.5 to ~7.2 (now). If BTC goes below 5.9, a much lower dip is likely (~ 4.5, 3.8, 2.8 not out of the question esp if WXYX2Z pattern that @ew-and-patterns warns about happens).
I see. Well we can only wit and find out what will happen. There is light at the end of every tunnel. All you hodlers out there I am stuck on my positions as well. I am holding until I can get my Lambo!!
If you really want that Lambo, sell everything you have and come back as soon as BTC gets below the 6 to 5K area!
Buyers and Sellers make money, hodlers don't
Or maybe sell 1/3 now and buy back if it does dip lower. (if it dips, you'll make a larger multiple on that 1/3). If it moon shots, you'll do well with those 2/3s...
I am not doing that. Mostly because I have a lot in Raven, and that's exploding right now. But it'd be a more conservative approach to what you mentioned.
Well said!
keep in mind, in our money system there have to be a looser for every winner ;) a friend bought 2 bitcoin for 400 EUR each, sold it at 15.000, i guess you are right - he didnt made money :)
What do you think about this analysis?
good@
You can follow @ew-and-patterns. His analysis much better than @haejin. Don't believe on haejin.
Hi haejin
Do you agree to translate some your post on polish language?
They are very interesting
The statistics list is expressed in the form of this triangle.But my thoughts are very low.you will know me about it?????
So cool that you can perform Elliot waves even on this benchmark!!!
@Haejin You do not provide any entertainment. I brought you some.
If BTC fails people will lose hope in crypto. Crypto is definitely the future but we might not be ready for it yet on a global scale. It might drop to levels we never expected but remember the fundamentals and tech is the reason that we're all here. Sure making money this fast is an amazing high, but remember what brought us here in the first place (or at least most of us).
How low will Bitcoin (BTC) go? Some experts are saying it will hit 5k... some say it will go as low as 1k. Some say it will be over soon... lmao. What do you guys think? Is crypto the future? The altcoins seem to follow Bitcoin also. BTC really has a big influence on this market... hopefully one day that can change.
People are hungry for cheap BTC--if it breaks 6k and price can inch itself toward 5000-4800, it would take some impressively bad news to push it beyond that price depth. Too many buyers ready for BTC in that sub 6k range. All my signs say that we may face another 4-5 weeks of dips/sideways movement (maybe), but we will see things blast off by May. Crypto is an all together different animal compared to 2013, this correction will not be drawn out too much longer.
I agree but every time we see some solid growth we take a huge step back. 1 trillion here we come!
Why bitcoin market in a month is dropped?
It may be over or we may be in for 68-85% from ATH and months of recovery.
Here is my take: https://steemit.com/bitcoin/@crits/bitcoin-2013-crash-vs-2018-crash-side-by-side
