BITCONNECT (BCC): A High Impact Trade; Higher Risk & Higher ROI Potential
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SUMMARY
NOTE: This is a higher risk but could have higher ROI potential. DO NOT EMPTY YOUR WALLET INTO THIS COIN! That would be ASININE!
NOTE: BCC is symbol for Bitconnect in HITBTC Exchange. It also represents other coin symbols in other exchanges!! DO NOT ALLOW STUPIDITY TO REIGN!!
NOTE: Risk management is PARAMOUNT! Emptying a wallet into any single trade or coin has no hint of a de-risking strategy. It stinks of pure GREED! YOUR ACCOUNT COULD GO TO ZERO with such reckless trading!!
Bitconnect (BCC/BTC) as shown in the HITBTC exchange could be putting in the bottom of an a,b,c correction. It could already be complete. I've labeled the five subwaves of the red C wave. Subwave labeling, for me, serves as a quality control mechanism. In other words, by identifying the subwaves, the confidence level increases because it shows my waves having high likelihood of being correct. Remember, my method is NOT a crystal ball! It simply identifies as many possiblities and narrows them down to a handful of probabilities from which I select the primary and necessary alternate future price pathways. It's a method of probabilities and not certainty.
If the bottom is in, the BCC should start impulsing up in five waves as shown by the white waves 1,2,3,4,5. These white waves themselves become subwaves to a higher degree of trend wave 1 (blue). Now look at the pattern that could result. I call this type of pattern discernment "Forward Discernment" and is a vital skill to acquire. The pattern I've drawn is that of a very large, rounded Cup & Handle. This pattern is one of the most popular bull patterns in the cryptosphere!
Here is a higher resolution showing how even wave 5 of C has been subdivided into its own subwaves. By doing this level of subwave counting to this level of degree of trend resolution, one is trying to gain additional confidence that the bottom is likely done.
This is exactly the same process I used to call the bottom on Spread Coin (SPR) back in early November when it was $0.19 and forward discerned the Cup & Handle. When I had called the bottom on SPR; many had doubted saying it was a dead coin and that the website had not been updated since 2016 and how it will never rise again. Today, it rose as highs as $3.05 or 1,500% since my recommendation! Elliott Waves states that News & Events shall arrive to justify the forecast. I'd like to see what news or events will be put out to justify the current massive rise of SPR! This give proof that price moves the news and events and NEVER the reverse.
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?
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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.**
Other problem, Haejin, the numbers you showed does not match with BitConnect. At the moment, BCC (bitconnect) is $403,95 USD , not $3.05. As you can see at https://coinmarketcap.com/currencies/bitconnect/#markets .
Maybe, just maybe, you are talking about another coin, cause there is so much confusion about the "BCC".
I think you are confusing his Spreadcoin example with his Bitconnect prediction.
$3.05 is the graph for spread coin
And, yes, I also think BitConnect, the one with $403,95 price is a ponzi scam, like Herbalife and others...
It is for Spreadcoin, it happened with me too, when we don't read the post completely and want to figure out quickly what is going up, target & exchange to buy it. BITCONNECT is a scam but may be it will survive to tell a tale, I don't like the way it is spoiling the reputation of other cryptos also.
I cannot believe we are seriously discussing Bitconnect as a trade-play. When this scam collapses, it will leave a huge dent in the credibility of the crypto space in general.
bitconnect is a SCAM, please do not promote bcc
see also https://steemit.com/cryptocurrency/@blockchainbros/the-end-of-bitconnect
That's what they said about SPR....however, 1,500% profit is the result.
Seriously man, bit connect is almost 100% guaranteed to be a ponzi. Have a quick read here and I'm quite certain you will be convinced.
That being said many many people don't seem to believe it's a ponzi so your prediction is likely accurate all the same, bit connect will probably behave just like anything else until it goes to zero overnight. I know you believe in pure technical analysis but this is completely manipulated.
I realize you have included a big fat warning there but in the interest of "doing no harm" it might be worth being very clear that you are talking about the value of the token, in the short term, rather than the underlying system.
Upvoted for visibility.
i invested a bit before when i was brand new to crypto - and it is making returns - but small. i decided to cash out instead of reinvesting - and only do so when BCC price drops so i get a better reentry. but there are so many factors. if BTC skyrockets technically will lose money. jsut doesnt make sense in the end if you keep track of satoshis and BTC (correct me if im wrong tho! still learning..)
I like the disclaimer at the beginning, with so many newbie gamblers coming into crypto trading it seems necessary! :)
CORRECT Thanks again for your blog I made KABOOM MASSIVE PROFITS IN SPR! haejin here is some of the practice i was doing !!https://steemit.com/trading/@ryan313/spreadcoin-correction-in-progress
this is not healthy for blockchain, there are enough coins to be promoted: ven lisk ltc etc.
Of course you can make some $$ but what are you supporting here? I have been in bitconnect for months and I would have make 5x my money if I just held my Bitcoin.
This time I disagree @haejin, you do need to read the news on this one, this time.
I don't think you will feel good promoting this after it crashes, you know I'm on your side @haejin. So I hope you will consider the news on this.
Scarlet, could you talk to Bernie...err Randowhale...err I flag trash to see if you can get @fractalfreedom off of the autoflag list.
...and fractal, I fought bot with bot. Sent you a randowhale upvote to get your latest post back in the positive. Keep up the good work.
Analysis is not a promotion. This coin analysis was requested. ALL buys and sells are SOLELY the responsibility of the end user. You MUST do your own due diligence.....this is not a buy this coin blog.
I guess the war still rages! You can't make peace with these types.
All my comments are flagged!
Maybe the troops could visit my latest post and send some love.
I agree that analysis is not promotion. But I seriously warn for good reason. But peeps are free to do as they wish.
That is from the State of Texas who also trying to bully USI tech and others.. give me a break. They have no control over a foreign company such as Bitconnect or USI, and could never bring BitConnect down.. please stop spreading the unnecessary FUD!!!
And they aren't even trying to bring it down. They just say, This looks fishy and doesn't follow the state laws in place for Securities trading, basically.
Gracias la idea es seguir ya que el invertir este tipo de paginas tiene su riesgo como cualquier inversión, es estar dispuesto a ganar o perder hay que tener nervios de acero...
You can be right AND still wrong.
its not a scam until it scams !
But once it scams, It would turn out to be a scam the whole time.
but if got your ROI it wasnt for you lol
and the SEC is already onto it
See: https://twitter.com/fortworth_sec/status/949317164867219457
People have been spreading FUD for over a year but bitconnect is still standing and paying out. Can you find one person they have scammed? NO! Can you find one person they have scammed ? NO! .. hmm
LMAO, reading this comment now after the news is telling.
hahaha!
I wouldn't touch this POS with a 10 foot pole. Ponzi Scheme!
It would be nice if you could do a new analysis of NULS as the target was reached earlier.
bitconnect is a 100% pure ponzi scheme .... it should not be promoted like this... not even if you can make money from it .... not by @haejin
its an insult to other coins
How can you state its 100% ponzi? Are you the owner and no in fact that it is? You are making speculation and saying with 100% certainty?! What do you think a central bank is? They are ponzi schemes.. when a bank loans you $1000 and charges you 8% where does the extra 8% come from to pay the bank back? Think about that.
You are right to a point but central banks are likely to be able to keep the charade going for a few more decades at least. You can invest in a ponzi, knowing it's a ponzi as long as you think you are in early enough. I can't say I'm 100% sure it's a ponzi but I'd say I'm 99.99% convinced.
It's no skin off my nose so please feel free to ignore this but if you want a little friendly advice, read the post linked below with an open mind, then get your money out.
https://steemit.com/bitconnect/@crypto-investor/the-bitconnect-whitepaper-maths-of-a-ponzi
RIGHT RIGHT AND RIGHT
hahahaha!
You must be a promoter or have some skin in the game. Take your emotions out of it. Have you ever looked and calculated out how much the bitcoin you gave them is worth now? Verses the returns you get from their platform? The #'s do not lie! But do as you will. Be mad instead of research.
Very informative post
thank you for warning
This coin is heavily manipulated as the vast majority are owned by the bitconnect founders due to a huge pre mine. They can restrict supply as they choose. The only purpose of this coin is to facilitate (and act as a cut out for) the bitconnect lending program, so it’s not news that will affect price but supply being throttled by the founders.
News never drives price.. sentiment does.
News will arise to justify forecast and NEVER the reverse!!
Not in this case!
Heard that many times before.....and no, Haejin isnt always correct, but more times than not. Remember....there are coins that are useful and valuable, coins that are useful and have no value, coins that are useless and valuable, and coins that are useless and have no value. What it does or doesn't do rarely comes into play.
And manipulation
Usually I jump at anything with 10x or greater potential. Not this one though I couldn't invest in it in with clear conscience.
bitconnect is a ponzi, please don't promote.
@haejn did say it's risky. A quick get in get out trade of few days wouldn't be a problem. For anybody who wants to know about the fundamentals about BitConnect here is a old post you can read: https://steemit.com/cryptocurrency/@vimukthi/trevon-james-vs-vitalik-buterin-in-depth-analysis-commentary-on-bitconnect
As I don't review fundamentals and base it only on price, I am not aware of that. I will review for such potential harm BCC can bring to others. Thanks!
Thank you @haejin for considering the news.
Analysis is not a promotion. This coin analysis was requested. ALL buys and sells are SOLELY the responsibility of the end user. You MUST do your own due diligence.....this is not a buy this coin blog.
I dont think that he is promoting that people sign up on bitconnect. But yes, definitely a ponzi scheme and good to warm people!
they push their own coin, they just scam the people for their bitcoin, the exchange is mostly themselfes, you exchange your btc in bcc and than in dollars when you want to invest with them. your invest rises when btc rises, but not as much as you would do in holding btc, so do their coin aswell, later you get for your dollar investment less bcc so less btc than you actually invested ;) i think they will just can continue with many stupid people who dont care - so very careful with open eyes, there are much better options out there!
Agreed!
say what you will about them but I have made my return on investment and they pay me profit every day which i withdraw to my own wallet :) can you show me another ponzi that does that?
Google Bernie Madoff, he did it for decades.
Exactly :)
LOL the whole point/methodology of a scheme is to "prove" that it works by paying insane amounts to participating "partners" in the pyramid. This has two functions, it grows the pyramid because participants advertise to get more people involved to make more money, AND it appeals to humans greedy nature, making you invest more in the scheme! When the pyramid is large enough for the owners to profit massively, or when people become aware that is it a ponzi scheme, they run of with the money!
I'm not a huge fan of bitconnect but I don't think it's a ponzi/pyramid.
Ponzi schemes are inherently unsustainable, while bitconnect is completely sustainable.
As long as the "trading bot" holds a fair percentage of coins it will be able to pump up the price and then sell a few coins to pay out lenders.
It looks a lot like a ponzi because of the referral system, but it isn't.
There is absolutely no proof that the trading bot even exist, come on!!! Everything about this company stinks of a ponzi/pyramid scheme...
and also you say "bitconnect is completely sustainable." - I don´t think they allow anyone to go through their finances OR the technology behind the so-called "trading-bot".
This company has so many secrets, and that is dangerous for investors and traders.
Did you read anything I said? The trading bot doesn't exist. It's just a cover up for price manipulation. As long as they can continue to manipulate the price of bcc coins it is completely sustainable.
okay, so it is a scam which is sustainable for now, until it is no longer sustainable at which time it will crash..
But I do understand that you are not promoting or defending bitconnect.. Just think that it is dangerous to invest in, I studied business economics and so I feel that it is the responsibility to those with knowledge on a subject, to communicate risks to others who might not understand the risks they are taking..
Nothing I said was pertained to you, and I am glad you started this healthy discussion :)
Hopefully other readers can learn from these comments and make good trading decisions.
I'm all for remaining cautious.
Never invest what you can't afford to lose, but scared money doesn't make money!
Somewhat agree, but in the case of a long crypto winter, they would not be able to sustain the price and would collapse, also at some point the owners (who by the way are unknown) decide that a few billion is a good score, liquidate and fold it.
Yes, and all the "investors" will be left holding the empty bag...
Very sad that people actually fall for these schemes, just a little digging into the company structure and the people behind it raised 100 red flags!
Even if it makes 30000x I would never touch it!