Bitcon (BTC) Morning Update: Mid-Term Target $70,000

3년 전

SUMMARY

Bitcoin (BTC) overnight price action could have completed white wave iv of C. Purple wave i and ii of white v of C could be complete. If so, the next wave should be purple wave iii of white v. This means a potential still for one more lower low to finish the correction. This could wash out the last of and weakest hands and so give the bulls the mojo build up to climb as high as $70,000.

How do I get $70,000 target? Fractal #1 carried prices from $5k to$20k so that's $15k. Fractal #2 is 4x Fractal #1; so a target of $70k is estimated.

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?

Follow me on Twitter for Real Time Alerts!!

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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:
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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.**

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Thanks Haejin!

Guys,

This is the best crypto blog I’ve ever come across. Reading Haejin’s analysis is part of the daily ritual of many. It certainly is part of my daily ritual.

Lets help Haejin against this ridiculous attack so he can focus again just on technical analysis. Add whatever steem power you can to your steem account so that your upvotes can become more effective in countering the down votes. Thank you.

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My reputation dropped to almost zero lol. Im not here to build reputation, i only came here to follow Haejin.
But now it looks like im some sort of a bad guy while instead all i did was talking positive about Haejin since they said we all fake accounts....we are not!
Now lets get done with that last dip and fly to the moon together :-)!

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I'm running low on 100% upvotes but here's one anyway! :) Brought you back up to 6.

Bernie accusing others of doing exactly what he's doing seems to rhyme with the larger theater, here in the US...

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Agreed. Let's help each other out here. My reputation is fine, they've marginally reduced it within the 59 range (see https://steemworld.org/@libertyteeth which I discuss in the following link), even though they've managed to harm others who are new here a lot more.

Fight back. Take their funding away. Resteem the article that @haejin just resteemed a couple hours ago about randowhale being a scam -- that's @berniesanders' creation, which he's trying to make a buck from. Don't use it, and tell others not to!

If you care to upvote the posts of mine they attacked overnight, I'd appreciate it as well. Not so they make money -- just so they regain visibility and people don't have to click extra times to read them. Thanks.

https://steemit.com/steemit/@libertyteeth/so-satan-has-been-hard-at-work-overnight-berniesanders-attacked-me-again-randomly-downvoting-several-of-my-posts

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  ·  3년 전

My reputation plumbeted to 21! This guys put their minds to destroying everything tey found... nothing constructive though... just ranting and downvoting.

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There seems to be a groundwork of basement dwellers on steemit, who consider this network their own (little Internet sneaks probably create a considerable part of their income, this is important), and the founders don't want to lose them as they are basically the only ones who so far found a use for steemit.

As I wrote elsewhere, steemit, a comparatively bare and featureless, even chaotic network, cannot otherwise compare. It is basically a marketing outlet and public raison d'etre for the steem crypto and its blockchain...

So here enters haejin, a zen sort of technical analyst in the time when crypto is booming, and that changes everything. Here's an entertainer stranded in a backwater, and they're of course trying to protect their habitat.

I think @haejin might be best off using what other youtubers are using, patreon account etc., also post at other social networks (not much more work, same materials, he will have 100k or 500k followers in no time-kaboom!), and diversify... so steemit can keep being the backwater it used to be.

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  ·  3년 전

You made a good point in diversifying. Write in various platforms and see how each one turns... sort of trying markets. @haejin publishes his videos on YouTube and posts on Twitter. I guess since he posts about cryptos, Steemit made sense... we'll see

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I agree with you both. Also, note that "SMTs" are coming -- Steemit Media Tokens, which will allow for the creation of many other similar social media sites. Ones perhaps in which "downvotes" cost three times the power, or, perhaps aren't allowed.

Appics is the first, http://www.appics.com/

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minds.com should be a natural, they already have a payment system - and they give you free "steem" for just hanging out there, so you can boost your or other folks' posts.
They're lacking a crypto and might be interested - they are a full-fledged social network even though still in beta as well, lots of political youtubers fled there during the recent purges ;)
I'm also mainly on Google Plus since years, it's a decent network which mostly guarantees that your posts have much greater influence on the Search Engine

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These people aren't basement dwellers....they are lower than hammered S#*T , may they be returned 10 fold in the energy of what they post... So mote it be... I have nothing to lose here... I only support Haejin & his supporters as he has something worthwhile to share ...I am not interested in HATE, or JEALOUSY only in positivity , sharing & community.... so get a life & if you don't like it....don't read it.... it's better than you asinine rants....

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Replied to @znog who replied to you, replying here as well -- I mentioned SMTs, Steemit Media Tokens, and the first one, Appics -- http://www.appics.com/ -- and noticed that their pre-sale starts in two and a half days!

I'm staying out of ICOs for now, I much prefer the TA I'm learning here.

You're right about the backwater here, I have a feeling more communities will be forming in short order.

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what else is part of your daily ritual after reading Haejin's analysis? Please share! :)

Great analysis, I hope you're right! Good luck in you battle against the whales trying to silence you

70 000 $...gosh. it seems like a long time when the tipy top in sight was in the range of 7000/9000$.
bitcoin is really an unassailable mistress.

Thanks you so much to have guided us with your knowledge and wisdom to this point.

Hi Haejin. Thank you again for your analysis. I have a question about this post that I hope you can help with. If bitcoin breaches your "i" count before it goes down (which is around $15,600) is it safe to say that the correction is already complete and the price will go up from there?

Is that 9000 you say BTC will dip down too? and you say BTS will go up to .90 while BTC goes down?

GOOOOOOOOOOOOOOOD MORNING HAEJIN!!!!!!!!!!!

Love your work Haejin. Ignore the haters, I think they're upset that your free educational content is devaluing the content many of them overcharge for and hence they attack you!

@Haejin you are always super informative and helpful. Burny is some salty whale who is very upset that you do better than he does without needing bots.
His childish responses and constant aggrivated attitude shows the community who the real valuable contributor is. Your attitude and calm collected demeanour will win out. Don't lose hope, just keep posted! Upvoted <3

Thanks for a great post friend!

9.gif

“A flower does not think of competing to the flower next to it. It just blooms.” And You Are One Such Flower...

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@haejin looking good this morning, nice suit

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Beautiful spoken my friend!

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In my opinion the droping is stoped, it was becouse of Christmas selling, some of people want to get money from Bitcoin and the price started falling down, then other poeple in pannic started selling their coins. Now I think is stable and the price will slowly rise.

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Looks like the dropping might be stopped indeed. The wave II of the expected last wave is already higher than IV of the prior so this looks like a bull run. Plus there is the inverted head and shoulder as pointed out by @dziadkowcem below; with the volume confirmed on the head.

Maybe there will be another separate downturn soon that will bring this down to 10k as @haejin predicts here. Or maybe some news will lead to it (as @Haejin said news should follow the TA.) On the fundamentals, what triggered this downturn was severe withdrawals for the holidays as happens on major holidays and the heaviness of the valuation sending weak hands along with it. The New Year holiday usually extends straight from the Christmas one and I doubt that fundamental will cascade the price down afresh like it did yesterday. So there isn't looking like another fundamental event on the horizon to send this back down again, looking right now. Follow @kenraphael for some fundamental analysis to sometimes pair with the really excellent work here.

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We are close to being overbought on the 1 hour charts, as haejin says "price always drives the movement of the charts", I have seen a number of analysts with almost the same type of analysis as well. Then when the price dips again to 10~9k levels you will say people went for last minute christmas shopping to explain the event :)

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You hope.
So do I , waiting for that damn dip since hours ;))

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Me too. I need to sleep. 😂

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That’s optimistic. Bravo.

The Best best best teacher for crypto trading I've ever found on the internet.
Great going sir. you are doing best. And Nah, Don't worry about others. Soon lot of people will follow you

  ·  3년 전

@haejin ur doing great, dont let them get u down - we WONT let them get u down. ur the most honest TA-Analyst i ever met online. doing such a gift to ur followers everyday. if i had followed and trusted every of ur charts i would have a much bigger portfolio. keep up the good work and let the haters hate!

Thanks Haejin, your analysis helps give confidence to hodl. upvoted and resteemed

Bitcoin can be hitting the 40$ k or not what do you expect brother
what is your analysis about the steem and sbd brother please tell me in a good post
:)

Could you please do an update on EOS?

Nice post about btc

Great post

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@Pathi(51) Why is Haejin hated so much ?"No One Ever Kicks a Dead Dog"When you are kicked and criticized, remember that is often done because it gives the kicker a feeling of importance. It often means that you are accomplishing something and are worthy of attention. Many people get a sense of savage satisfaction out of denouncing those who are better educated than they ...

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Friend I guess you must read the post and comment. I was only trying to give people knowledge about what is happening in the community

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And I gave an answer for anyone who likes to read post and comments. I was trying to convey a message to those who are profiting by attacking a gentleman, who is very generous with his skills and time.

happy chrismas my friends

Thanks for this man, I used the opportunity to buy some more Bitcoin when it had reached lower levels of 12.5-13k. Now will hold on for some time. Also wanted to know if you could look at any of the coins with a market cap of less than $10 million and listed on Bittrex? Would be great to hear from you.

@haejin is this still going down... Im still holding Fiat but everything seems to keep rising im sad i sold out of XVG...

  ·  3년 전

this is very eye opening...thank you! I am learning something that I never thought I would understand.

  ·  3년 전

Wave 1 ended at about 15600. Now climbing at 15400 is very close to cancel the count... but what will it turn into? a,b,c... deeper 1,2,3,4,5?

Master, I am patiently waiting to get back in at 10.5...if not it is on me not you.thanks for all the good work!

  ·  3년 전

Thank you so much Haejin!

I couldn't help but notice that in some of your analyses the disparity between projected BTC value vs $ value is not equivalent (and that this should be expected if BTC is to continue to grow). Have you married the results of your BTC and USD analyses for cryptos to find an intersecting point that in time that reveals a) the timing of growth of cryptos, or b) the timing of when BTC may hit $70, 000?

An example of this may be your RDD analysis, where the sats value is projected to double, but the USD value is off the chart completely.

I'm not a mathematician, but some kind of calculus could be used to estimate time, based on these projections, or to cross-verify your BTC projection.

Perhaps?

Haejin, thank you.

Do you see an alternative count from here? It's just interesting how long wave II of purple is holding up before another imminent bottom.

This does not feel like it wants to head down

Are you sure it falls again mr?

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That's the question :-), if unsure just hodl and buy some if you can when it falls, will go up anyway

Great update.... Good morning

Hello ~
Korea is on December 23 at 10 pm.
Korea now says it is upwards when it is seen as an upbeat exchange.
And rumors are circulating that Trump will pay taxes on January 1st.
Is this true?

purple ii went above white iv now... can it be possible in wave theory ?

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That's exactly what I'm thinking. Does it mean that wave iv is not yet complete then?

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That is my conclusion. Haven't watched the video yet, so I don't know whether Heajin went through that possibility. Basically shifts everything over to the right, but wave 4 could conceivably go a ways up before turning down...just can't overlap with green circled wave 1 in this chart

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PS. you can ignore the dashed lines, just my sell point (purple) and buy ladder :)

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Great work...thanks for sharing :)

It's a great post @haejin....analysis is good ...upvote done...Thanks ...

Will XRP goes up when BTC goes down or should I just move them to fiat first till BTC completes it's correction?

@haejin. will send you some new followers soon ;) I appreciate your work and the knowledge you share. You should be rewarded for it! Wish you merry holidays and all the best!

Keep up the good work Haejin!! Thank you for everything! you bring calm to everyone in times of uncertainty.

Looks like a bright future to me :)

Good morning Haejin! Thanks for the update!

Wishing you nice holidays already! Don't let the trolls mock you, your community loves you!

Amazing! I have been waiting for this update. Thanks for helping us throughout this zig zag, @haejin! 🙏

Makes sense
Resteemed and upvoted

All my fellow Coinbase traders, this is what I'm seeing:
Screen Shot 2017-12-23 at 12.58.21 PM.png

What you think?

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Also, D is still below A even tho it looks a bit close. I did some chart Microscopy and D is clearly lower than A.

  ·  3년 전

hey haejin, is this a rising wedge? this should be a bearish indicator, right?

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Very Good.

Is this the time to pass to BTC from Alts?
I have no BTC.

이대로 되길바랍니다. 감사합니다.

Hi @haejin thank you for the update, it is very helpful as usual! Could you please do one on OMG?

Broken YouTube link again? Is this down voters again?

Thanks Haejin, I've been watching POWR these past couple days, I think it was in perfect congruence with BTC, IMO still a monster to look at during the Bitcoin bull run! Would greatly appreciate an update, Cheers bud!

Great information ... thanks for sharing ...please check my intro post :D

I added steem power, but don't seem to be getting any more ummpff behind my upvote. I added like 40 bucks of steem, and the options for steem power were to power down or "buy".... so I think I did it right? Steem doesn't expect a ton more than that....do they?

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I have 44k SP and my 100% upvote is worth $5.11, with my voting power currently at 45.47% -- see https://steemnow.com/@libertyteeth for details, and you can put your own username in to see yours.

Another nice tool is https://steemworld.org/@libertyteeth -- by dragging the pointer in the circle in the upper left, you can see what it would be when the voting power reaches 100% -- $11.23.

This is your user: https://steemworld.org/@tumtum01 and it shows that you're near 100% voting power, and a 100% upvote at that level is worth $0.01. So, you'll need more STEEM Power in order to increase your upvote.

I haven't found a tool where you can say, "I want my upvote to be worth $X, so what Y amount of SP do I need to purchase to get to $X upvote?" One might exist, which could help you.

Hope this helps!

Holy eff, $70K?!?! That would be nuts...although I guess its already nuts cuz it was fractions of pennies back in the day, but still.

Loving your breakdowns & I'm getting more interested in these now then I've been before. I was just buying things I believed in or thought were lower than they should be previously. I didn't put much thought into the graph dynamics & patterns.

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It has completely changed my portfolio. And the attacks on him have completely changed my thinking on this place.

@haejin, if i could upvote your blogs thrice, i would! thanks for all your analysis; so educational :) have a great day

looking at the volume I put the waves here

Thank you!

Is count cancelled?

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for me it is I've pulled the trigger on my dry powder 30mins ago

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Oh my...

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But I see a downward tendency...

On 5 minute chart there is quite nice inverted h&s pattern:
https://www.tradingview.com/x/8yIOb5n0
also ascending right triangle:
https://www.tradingview.com/x/yIGqNqKf
What do you think?

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is that mean bottom done ?

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inside the triangle... it could be a rising wedge as well

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Yes, this might be tricky:
https://www.tradingview.com/x/LY3QrhO0
The volume confirms h&s, but the upper line has not been breached decisively.

All this attacks towards you is simple envy, I find your blogs very interesting and educational and always somethig to consider.

Thanks for your contribution!!!!

God Bless you all. Negativity doesnt dominate over positivity. Technical Master Haejin keep it going on and dont waste Energy on this kind of people. Peace.

I have been waiting since yesterday to find the perfect time to jump back in. I am a bit nervous I feel as if it will just go up from here. Is anybody still waiting to jump back in at 9k?

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Don't forget to ladder back in, don't trade in one lump sum.

Wau so soon will bottom to under 10k$ to go to insane ride to 70k$. Hohoho merry christmas :D

Hmm things don't seem to be playing out as according to your count. Hopefully we can see better picture soon or it may just be taking it's time.

gracias haejin, gracias a ti, me estoy recuperando de perdidas en negocios mlm, eres grande, saludos desde chile, sudamerica...

Many people opt for the role of priest or the diviner, but you are one of the few that tries to be a teacher. And a good one, at that.

Please keep up the marvelous job you are doing, and to hell with the naysayers.

Upvoted and Resteemed. Added more SP..

Hey Haejin so much for what you share... you give bernie enough rope ...& he is hanging himself. I joined Steemit because I found you on you-tube ..I am not blogging @ all , but I up-vote you & down vote him.... karma is a universal law...Bernie you did this to yourself .... Haejin many thanks for all you share ...As a request could you please do an update on bitcoin gold & Monaco? Many thanks :)

Thank you Mr. Lee.

Upvotes to you good sir! Would you mind clarifying what you mean by mid-term? Weeks? Months? A year? Thank you!

great analysis haejin!

Look at digibyte!!! wow!

70k id take that

Thank you for everything you do @Haejin. A lot of people incl. myself are learning a lot! So please keep doing what you are doing. #dogoodnoharm

Congratulations @haejin!
Your post was mentioned in the hit parade in the following category:

  • Upvotes - Ranked 5 with 601 upvotes

projected timeframe...?

Excellent as usual haejin - upvoted.

Don't let the haters phase you.

Thanks for the update Haejin. I don't quite get your math. If last time it went from $5,500 to $20,000 that's a 3.6X's gain. so based on that % that would mean from a $9,500 low now X's 3.6 = $34,200. If you calculate from the last top of $7,600 to this top of $20,000 that is 2.6X's higher which would mean that $20,000 X's 2.6 = $52,000 but the $34,200 makes more sense base on the % move of from the bottom to the top last time. What do you guys think?

can someone explain to me this upvote downvote thing. why is it bad that bernie is downvoting haejin, how does it affect haejin and why would bernie do this? i have a good friend working for steemit should i contact him? @haejin? at everyone here

**************EVERYONE- SUPER IMPORTANT************
Sometimes when "im busy" I come to Haejins Blog and i just quickly read and look at the charts and dont always watch the videos, after watching the latest one it was such a big reminder of THE VALUE in watching the videos fully and listening to him.
Especially when corrections are happening.
Watch, listen, learn and remain calm and remember what YOUR strategy is.
Happy profits to all!!!!

‘Bitcon’.. it sure feels like it sometimes:)

We love Haejin Lee, analyst and man! I earn a lot of wealth with his kind free posts and i am forever grateful. Please UPVOTE HAEJIN!