1st Blood (1st) Technical Analysis: Hunting for a Correction Bottom
SUMMARY
1st Blood (1st) has been correcting since August of 2017 and that's a clear example of the Hurry Up & Wait syndrome of Altcoins. Note how the impulse waves were rushed and now the correction is still continuing into seven months. For the most part, price has been moving sideways and a ditstinct pattern of a round formation can be drawn. The pattern is likely more than 2/3 complete and price could be seeking a bottom to then start the right wall of the round pattern.
A higher resolution shows a probable and bottom seeking downward wedge. It'll likely make a lower low as shown by the white subwaves. Since the correction is an ABC; the lower low should mark the onset of a potential impulse move upwards as this would be the earliest sign of a trend reversal. Still, be prepared for more sideways action as a close alternate.
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.
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Elliott Wave Counting Tutorial #1
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@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
I used to be @Haejin's #1 fan. I no longer believe anything #Haejin post here on #Steemit.
He even upvoted me one day & then removed it. That really made me upset!!!
https://steemit.com/haejin/@born2crypto/haejin-predicts-bitcoin-will-be-usd270-000-by-2025
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who ever bought then was dumped very hard. In the end it doesn't matter if you lost 99% because it's all about the big picture with Haejin
You can loose money only if you sell in the downtrend.
You can lose more if you don't sell. For example anyone who didn't panic sell after the BTC drop from 20,000 has lost more than who panic sold, but @haejin kept reminding them it's about the big picture so everyone kept hodling in a downtrend.
The decent thing to do as a good TA is to tell them to sell and rebuy, but @haejin is a "Everything is bullish eventually" technical analyst.
That's true. But then you are responsible, when you give advices.
He can say it in his usual way.
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Hgin only supports himself!!!
Thanks for update 👌
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