Bitcoin (BTC) Morning Update: Correction Likely Not Yet Over

3년 전

SUMMARY

I keep getting asked for what the Bullish scenario would be and the below chart depicts it. Price would have to rise above the top white line of the descending wedge pattern and such likelihood is supported by the very oversold nature of the MACD. However, I still prefer the lower low for the e wave to execute as such would be the more bullish scenario in the longer run. Downward pointing wedge formations are quite bullish once it is completed and confirmed. IF price can breach teh upper white line, I've placed the Elliott Waves to show a potential pathway.

The MACD is still showing a lower, newer record low at -848. IF the lower low happens, then MACD could reach -1,000 or a bit lower. The oversold nature is quite extreme and the rubber band can only stretch so much. This correction too shall pass.

Legal Disclaimer: 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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I do not understand, some people's comments. I truly appreciate the analysis @haejin made. I think they have sense and are more or less correct in this heavy volatile crypto world. @haejin made a clear disclaimer, that all analysis are he's own opinion. Why do some people keep following him and post rude replies to his analysis? If you do not like them, do not follow them. Is really irritating when you would like to read some discussion and all you can provide is a nonsense.

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Totally agree. @haejin analysis and teaching is a great help for many of us here. And if he makes money out of it, what's wrong with that?
Being new to steemit, I see people abuse from the system. I wonder how Quora avoid that kind of trash people. Maybe the easy money attracts them here? Is there a way to sanction them so they loose their wallets?

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I agree with you gicoprasico. Those that continue to unnecessarily trash posts with their nonsense are simply taking this platform and it's potential for granted. Thank you haejin for your analysis, there are many of us who do value your time and dedication!

Correct me if I'm wrong but doesn't @kimjongpoo spam posts just make @haejin posts trend harder?

It's easy enough to mute but seems stupid that you would spam a tread you don't like and in doing so push it up the trending list.

Anywhoo, Infantile BS aside, thanks for your thoughts @haejin

Longer term perspective...UP!!!

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Strong hands!

Thanks Haejin for the epic TA and laying the foundation for a lot of people new to crypto trading. I recently read the Elliot wave principle book and will now be making some TA on Steemit, if anyone is interested then check out @edcracknell395 Thank you Haejin for giving to the community and helping everyone benefit in the crypto space!

I just wanted to say how much I appreciate your blog and sessions. Instead of being upset the market is going down, I’m getting excited.

Yay, it's happening and I'm about 40% in cash ATM

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same here I have never wanted BTC to go down more than now since I started.

Cheers @haejin !!!
I'm not sure I understand why people are trying to sabotage your posts, but I think you are behaving properly. It's great to see you keep posting your findings and you have adapted your language so that everyone understands these are just analysis of an expert and they won't be exact 100% because if that was possible, everyone would be rich by now.
Thank you again

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That is because of upvotes from @ranchorelaxo whale, which give Haejin huge rewards from the steemit reward pool - some people think this is not fair that one person gets 2-4% af all rewards.

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if you'd been paying attention you'd realize that the upvotes from ranchorelaxo are just a response to the massive downvotes from he who shall not be named. Unless you're already one of his bots

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It is not that simple, why would creators of steemit downwote haejin?

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Who brought the creators of steemit into this? He is being trolled by one single whale with an army of bots.

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@ranchorelaxo teamed up with @haejin to take out all the steem dollars for themselves they are splitting it among themselves once haejin gets the payouts.... we need @stan or dan to control these kinda things

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Or post content that people like so that there's more traffic going to other blogs. Imagine that!?

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payouts are based on peoples votes
thats the whole idea

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Haejin is a business man, of course he is in this to make as much money as he can, as crypto maybe has another 12 months until the cream rises and 1200 coins disappear.

Keep in mind guys that according to Elliot theory that the E wave in triangle corrections may not complete. This is stated clearly in the test Elliot wave principle (see page 49 of Elliot wave principle - Frost and Prechter). While I do expect a downturn, I do not expect a lower low. I would personally be surprised if we went below the 9-10.5k$ buy zone again.

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are you surprised now?😊

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its broken the important 1103 resistence already !

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yeah but there wasnt soooo many weak hands back in them days, traders where pros.

I bought at 10k few days ago. I will the same thing again, lucky

Would this be a possible pathway ? A bull flag and from 6.5k up to 20k. I mean 1 year from now this will look like a blip.
BTCCorrection.png

I think this may happen, but it is possible that bitcoin will increase again because the good news is that the CME will expired on Jan 26th.

Don't let these trolls take away from what @haejin is doing. Flag them!!! Make it so Steem will shut them down. Thank you @haejin for all you do.

Hey Master Haejin! Could you record with more fps for better watching experience? Thanks!

Good analysis ..I learned a lot from This and from ur tutorial...made some mistakes in past buying without thinking ..now I do my math before buying ..thnks ..keep ur good work😊

Problem with some people is they invested in coin at ATH and don’t want to Hear abt it is going down ...but that’s reality ..commenting negatively not going to change graph ..

I hope it does go down to 8 or 9k so that I can buy some at those levels. But I expect it to shoot back up off of those levels if it does hit it. It seems like everyone is putting in their buy orders and targets around those levels.

someone really likes poo down here.

하락장을 버티면 달콤한 상승장이 오겠지요 ㅎㅎ 언제나 글 잘 보고있습니다 감사합니다!

  ·  3년 전

@Haejin's capitalization on the Steemit platform is no surprise. Why people complain about him doing this is beyond me. It's no different than capitalizing on garbage coins during pumps. Same as people creating bots to make money on Steemit. If there's a way to make money people are going to hustle. His intentions are what is important. Trump didn't accept his presidential pay, but what are his intentions? Money is just a tool. The old Bible scripture is this "Money is the root of all kinds of evil", contrary to popular belief. Stop letting money drive your emotions people!

I believe btc may go down to 8k. I would buy more and more as it continues to go down. As every experienced crypto hodler knows, its impossible to know when rock bottom is.

Cool to see this, though I prefer to look at the dev side of things instead of market graphs 😉

I’m curious about the effect and magnitude of SegWit when it is rolled out more, or LN for that matter.

On top of that, with the end of the month upon us, a lot of paychecks are also going to flood the markets in the next few days with such bargains available 😉

Nice analysis Haejin! Check out @CryptoBroye for analysis of your favourite crypto's and https://steemit.com/cryptotrading/@cryptobroye/success-strategies-trading-crypto-s-equities-with-triangle-chart-patterns to see the complete strategy we use for entries and exits :)

By the way, the GBTC 91:1 split is this week. Thanks.

When I check it day by day getting low I feel disturbed, I believe its gonna go higher. @haejin thanks for the update.. You've really informed me alot

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To calm your nerves... put the candles to 1 week. This correction is nothing at all.

You are not right ?

@juliealexander. If you come here, this is my reply. This salahuddin you talk about. What kind of TA does he uses, do you even know? Does he predict time or does he predict price? I have seen many charts.They draw lines here, they fan it out there, fancy looking things. I have no idea what they are doing. This salahuddin is the same. I have no idea what he is doing.

waiting for your long term advice ...

Note: Mute haters ...

I've been heeding your advice, sir! Keeping my funds mostly in fiats in anticipation of the fall to mid $8k. Sure glad I did - as a few of my favorite altcoins were down a lot since I converted to fiats. Still holding $DGB and $XVG bags tho - as it's too much to take a loss on those.

I know you are probably right, but I really wish this scenario was different than that. But good one :)

your daily updated .............................about cryptocurrency ..
great to share
love it.....

resteemed

Nice analysis Haejin! Check out @Cryptobroye for more analysis of your favourite Crypto's and information on the strategies we use to enter and exit the markets profitably :)

Let'$ Go haha.
THANK YOU
Take Care

P&U

Informative! Thanks

@kimjongpoo What kind of negative energy sucking person you have to be to spamming negative stuff on every post of a person. Sad in so many ways.

Thank you for your insight Haejin, very informing.