IOTA Update: Two Paths...Same Destination!
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SUMMARY
IOTA is correcting or more so consolidating. The bulls are reloading their mojo! I see it as shown below as one pathway. Don't forget, Cryptos LOOOOOVE triangle patterns. Here is the a,b,c,d,e forward discern. The white impulse waves show higher highs to be expected.
The alternate is shown below where the correction could be a classic a,b,c flat pattern. Eventhough the path is different, I believe the destination is the same...UP!
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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
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Essay: Is Technical Analysis a Quantum Event?
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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.**
Hope it is going to rebound soon...
Hi Haejin
Can you comment on the difference between USD vs BTC chart analysis. For example PIVX chart between USD vs BTC is opposite in direction. Which currency do you weigh you analysis on?
Thanks
he usually posts both charts a BTC pair and a USD pair. But, he has said a few times he prefers using USD himself. It doesn't matter I think. From my understanding its the SAME price at the end... USD stays at 1.00
BTC fluctuates all day long. So USUALLY when BTC goes up the price of most coins will go down.... not always but usually.
But i would like to hear @haejin reply again too lol.
Just to understand it a little more
The price action shows the direction or trend but the timeframe is much more difficult to predict. Haejin's has said this many times. The result of that is that the expected price pathway in dollars does not necessarily say anything about the price of bitcoin. E. g. If the dollar price is expected to increase 100% but only 50% against bitcoin, it doesn't mean bitcoin will drop 50% against the dollar. You cannot draw that conclusion because the respective price pathways follow different timeframes.
The other point Haejin repeats is that the dollar trend is a leading indicator of the bitcoin trend.
This question comes up over and over and I think it is because people want to draw conclusions about bitcoin price. Am I missing the point?
Moreover I believe the dollar trade drives the trend and this will become exaggerated as more newbies enter the market thinking in dollar terms.
love being first
scarlet...i don't know much about Substratum but it seems to be getting a lot of attention since the net neutrality decision which is bullshit if you ask me...this is just as scumbagish as the Supreme Court allowing corporations to be treated as individuals when voting...do you think substratum has some credence? wouldn't they have to rely on ISP for the decentralized internet they are planning to provide? BTW, have you read the articles about how ISP's will be able to sensor Exchanges with the government and possibly create black holes? This is not good news..this along with centralized exchanges were the Achilles heal in my opinion of creating a free market, but now that ISP's have control, this is really bad news...wanted to see if you've researched this...cheers
I have never been interested in Substratum personally. That does not mean it's not worth investing in. I just haven't seen enough value potential, and a lot of lost value...on the TA side. On the business side, I like the idea, but I think it's a pipedream to be honest. I don't think enough people understand that type of internet yet, just my opinion. I definitely don't think the decision today will give it a boost, and that's because I doubt if 200 of the 4000 followers of this blog have even heard of SUB.
I could be way off base here....that's why I use TA instead of what I think.
I don't think this legislation will impact those who know their way around the web. Unfortunately, it may impact alot of other people in a negative way. I just don't put much weight into decisions like that, because I am a firm believer that the hackers (devs, programmers) always have the upper hand. I also believe that companies should be able to operate however they want as long as they are open and honest about that kind of operation. Very strong believer that the best market is the most free and open market....sounds like it contradicts the legislation, but it must also apply to large companies. Monopolies that are very destructive to small business is a different story to me...and many ISPs do own huge territories...but I think other companies will compete by guarantying a non restricted internet. They will give the people what they want, because they want to keep their business. Some companies have already been exposed, and that's what was needed for the masses to be aware of those actions taking place. SUB....fantastic idea that I can't see being adopted by the larger internet using crowd any time soon.
To your point mentioned above...yes SUB would have to rely on ISPs to cooperate, or it would have to be used through VPN/TOR which is exactly what they are trying not to do.
The ISPs will be going through major changes in the next few years. Internet speed going to millimeter wavelength will blow all current high speed internet services away. ATT is testing in some markets, but I'm much more afraid of Google Fiber being my only option than using a giant like ATT.
People are starting to be aware of the bubbles google, facecrook, and others create around them, and to me the most important factor is being educated about how you are being restricted and bubbled, not really that it is happening...it always has been. Once you know how it's happening, you can resolve to either not use their services or go around it. Sure it would be nice to know you don't have to think about that stuff, but the reality is you should be very aware of exactly what you pay for, and how that service operates....ever see the southpark where people don't read the itunes update agreement?
It's hard to rock me out of place when I hear something like this.....it's just another bullshit government decision. Are you familiar with Lysander Spooner? Of course you're not (no offense) because he's not part of the story we tell as our history, even though he was a huge part of the civil war times, and had HUGE impacts on other realms as well (he is the reason the US mail is still fairly cheap). As he puts it, all of those motherfuckers trying to run people's lives from 5,000 miles away boil down to being Murderers, Liars, and Thieves. They may not actually murder you these days, they'll just lock you away in the dark forever and tell your story for you. They allow certain modalities to be expressed in their territory, and others not. You can push those bounds, and they may slap you on the wrist, but there is absolutely a point at which they just dispose of you to hold their power seat.
I know I'm rabbit trailing.....just alot to say on the topic I guess.
tldr version: I'm not worried about Net Neutrality, and I don't think SUB will expand beyond a point to which it is usable by most people until they sell their services or their company to the ISPs anyway. Life goes on, and we can't be stopped. Whew! Sorry bout that rant.
Wow, stellar answer my friend..stellar....you bring up some really good points about free markets and us voting not to use them to make them change..the only thing that sucks is that there are only a few around where i live in California so they seem to create a monopoly...but like you said there will be others that come along and offer better services because they know people are looking for change..i can't wait for the new speeds...i can't complain because i get 100mbps here but i visited a friend in South Korea and their internet puts ours to shame...thanks for the response scarlet...cheers
I love that you consistently come up with great names for Facebook.
i.e, Fakebook, facecrook, and some others:) Brilliant!
And Twatter.
I can't credit myself for fakebook, but I do believe I coined facecrook...starting as a Grateful Dead joke at my brother and some friends....steal your face. (btw not a Dead fan, sorry if that's disappointing, just wanted to say that before anyone gets excited about talking tour days haha!)
I appreciate the fun in the music but also not a fan:) I have not been on Faceplant since finding Steemit. I love this platform but furthermore love this particular blog. Thank you for all you do!
Not a problem. I enjoy it. I'm thrilled to get to pass on the teachings that opened my trading world up. Haha.... sometimes I forget that there are even other things to look at on steemit, like this is the site, this blog. Faceplant! Now that's brilliant!
This is the first "social media" or whatever type thing I've ever been a part of after committing web suicide several years ago, and it's been really great for the most part, and getting better each and every day.
MaidSafe feels like a long shot but a better alternative as Internet 3.0
Thought you would find the latest from AA...cheers
I agree with most of what he says there, and I think it runs right in line with some of the things we've explored in this conversation.
I think something very interesting that he addresses is creating the infrastructure through token funding. Now this is very interesting to me, and I'll tell you why. When I see ICOs, many of them are touting a decentralized service that is 100% backed by centralized infrastructure. I mean, there are certain things that could work....Ziber I thought was something that could work...yes I know the Ziber story now, and still hold some of their worthless tokens, but the idea seemed viable while riding on the back of the current infrastructure.
So this is where the tug of war of the mind comes in. Do you want to be 110% for free market....even if that means people feel oppressed because the market was monopolized before they had any say or a chance to try anything else or build anything else. I say yes to that, because it is reality, and I do believe ultimately in may the best man win.....even if that win doesn't come for my benefit in my lifetime. OR alternatively do you believe in a socialized or democratic free market that can make or break a person or company's hold on something, or what many would refer to as their success, based on a 51/49 vote. To me, that is a very dangerous game to put into play. Democracy is not what most people think. True democracy verges on the very thin line between "well most people wanted it so...ok fine" and Mob Rules.
No system is perfect, and no one knows of a perfect system. We are always working off of the best information we have up to that point. Sort of like when people try to say "Why should I listen to science when science is proven wrong over and over throughout history." That thought pattern is a misunderstanding of what science is. We must work off of the most true element that we know of at any given time, because that's our most progressed state.
Truth is, we are born into a type of slavery. A slavery of the mind, in which models are presented to you as acceptable and unacceptable. To be free of that is to continue to break the mold through creation and innovation....and well, not giving a fuck what someone else tells you is ok to model after and not ok to model after.
The entrapment of the larger forces of humanity reaches depths that are very hard to even comprehend. Have you ever considered the fact that no person alive today has lived any part of their life without being completely engulfed in radio waves. Would it be any different? Would our minds and our bodies work any differently? I don't know....nobody does. But the development of the infrastructure that creates that bubble is generally thought of as a good thing, and progressing forward. So I have to ask myself....do we have a right to tell the company that has spent 120 years building the technology infrastructure that we benefit from every day that they can't do what they want with that infrastructure? Sure we do...but to have the right to do something begs of you the responsibility to use that right in a manner in which respects more needs than your own. So if we all said no ATT, we're done with you, fuck you guys, and we actually had the balls to follow through with that, they might just decide OK Well we're going to stop everything we have ever built up that supports your cities power, water, communication, employs millions, and fuels the vehicles that bring you food. I hope all billion of you are farmers with a lot of land to stretch out on, and you can go without those things until you learn to grow a good crop.
It may sound a bit like I'm defending those companies, and I can see that perspective. But what I'm really doing is thinking beyond my lifetime both forward and backward. Getting to where we are now certainly didn't happen overnight, and it didn't happen because 51% of the people thought those things were a good idea. Getting here took the will of people who did things their own way. People who threw the old models out and built new ones even in the face of adversity of the previous giants holding the sword. That doesn't mean that things don't devolve into a sort of chaotic power struggle where people get hurt...they do....and they do because we are humans, and as we can relate to this blog here, we are often driven by one, or both of two factors....Fear and Greed.
Is it time for blood to run in the streets and for it all to be torn down? Well that may be the preference of some, but I prefer to progress ideas and keep creating using the tools at hand, and some of those tools were put in place by the same people that many wish to see bleeding.
It's a big big big big big world, and an even bigger struggle to try to be on top and have some remanence of control. I don't think anyone can control it. Try as they might, I don't think they can. Some are on top at some times, and some are at the bottom at some times. The structure of life appears too chaotic to our minds to truly hold control of the direction of things. There are forces of change and progression that cannot be stopped. If ATT is the bad guy, their reign of power will come to an end for something that we see as a better solution.....at the time. Then one day, that solution will feel oppressive, because things never stop motion, and they never stop progressing. They don't crash, they only go into corrections.
I do realize when I start typing these things out, I jump around alot, so I hope that comes across somewhat coherently.
The new solution we seek will come to fruition, but not without much pushback from those who constructed the current model and built the infrastructure we rely on now. A second note on that to always keep in mind is that when I say the solution we seek, that is assuming we all seek the same solution, and that's not the truth.
No that's really great stuff scarlet and some key points...they are very valid..that's why i think BTC and crypto in general has done so well because it's using the infrastructure in place now to innovate without protesting and trying to bring down the companies that have supplied these services all these years...the token idea Andreas mentioned may be the key to seperating this technology from the mainstream..really good discussion
@haejin are you still active in the stock market?
you started there right? and I know you have that amazing ETF strategy thats been killing it!
But regular stock market trading... are you active?
or is cryptos profit %% too high to bother with stocks At The Moment?
Thanks for your knowledge. You deserve a lot of donations!!! Can you check RCN, I followed this strategy. What do you see?
Thank you.
Don't Miss the Wave up!!!! We keep seeing these ABCDEs rocketing off of the C!!!
packed and ready :):) to me this correction felt like years since it is my beloved coin.. :)
Thanks for the post. Even though I have a strong belief in IOTA's growth, recent price drop made me a bit nervous.
Now I am watching all of your tutorials; so helpful for a novice like me.
thank you very much @haejin, I really have been waiting forward to your update on iota! Best wishes to you!
Thank you for this great update!