BTC update 14.01.18
The bulls don't know it yet, but they are running for the slaughterhouse.
This was a precision hit again in BTC. How am I doing this all the time? Is it magic? No, it's my Elliott Wave knowledge + experience.
The 78% retracement could not be breached, so BTC started a small 1500$ crash. This is a typical wave 2 target in cryptos, so this 5 wave move down now is likely green wave 1 of white wave 3.
This is a 15 minutes chart for a more detailed count:
I am accumulating more and more funds, because I think that end of january will be a great time to buy into altcoins. Depending on where BTC is going to find a panic low, I will buy some BTC, too.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
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Have a nice day :-)
Oh man...I was hoping BTC would head back to the $20K range. I guess I will just have to wait it our. I'm not selling my BTC.
hi @ew-and-patterns, thanks for your analysis :) I hope support on 13300 holds. Anyway SBD is going lower and lower. the exchangerate for STEEM is not so interesting anymore. I also noticed you didnt exchanged your SBD's for STEEM anymore. Will SBD know a downtrend back to much lower? Some people say (And i checked) supply of SBD had doubled from december till now. (almost :) ). Will this push the price to 1-2$ again you think? What does the analysis is saying? But even if it has 5-10 millj supply that is still low right? Pls enlighten us with your analysis and strategy ;) (upvoted for visibility :))
Hi ew-and-patterns
Excellent analysis - thank you for sharing your knowledge.
I had been meaning to look deeper into Elliot waves ... and now I know I must!
Thank you also for your upvote on my Space News post.
Following you now - upvoted and resteemed :D
I come to same conclusions but in totally different way could be interesting to read: #27.
thanks for the post brother.
what do you see in the alt coin market as BTC begins to dip lower and lower. it seems some things will fall with btc and others will go up...
But the majority of the market looks like its falling. do you suspect it to be phasic the whole ride down?
Most alt coins will definitly take a hit. But I think it will not not be as drastic. Some coins have already proven to be able to rise even if BTC crashes. Maybe it goes like this: day 1 altcoins fall 12%, day 2 they rise 18% and so on and so on.
If they don't fall as much as they rise, the direction is still up....
I just saw this post and i'm really grateful for it. Do you think its to late for me to pull back and wait on the sidelines? I'm i'm down more than 30% on haejins predictions and they just keep getting lower and lower. If you were on my place, what would you do? I really thank you for your advise.
If I was down 30%, I would wait it out. I have never and will never sell altcoins unless in profit. Because I made a commitment to myself that this is an investment. Either it goes to zero (which it never does) or I get a profit some time in the future. All or nothing attitude is key. It destroys buying remorse.
short story: I was down 60% in NEO and still got a 200% profit out of it...
It takes time, but the direction of haejins and my posts is usually correct.
Without that mentality, investing is like gambling... addictive and hurtful.
Wow, thank you so much for this direct and honest answer. It means allot. I am under such big stress because of it all but this mindset is definitely something that would ease up the mental strain.
I'll maybe also try to find other interesting coins that went down allot and maybe diversify even more. Thank you for helping out!
If you experience any mental stress with your position, it means that you invested more than you are willing to loose, or you don't trust your investment decision based on somebody elses analysis...
I know it is hard to learn. It took me three years to get that mindset.
ETC, EOS, MCO did nicely for me. my tiny GAS position did nice too. So there is some real resistance this time. Even STEEM held well. So I'm not getting into USD yet. I'm trying to gather up some fiat to put on this some time later. Won't be able to gather much. But can't let a good crisis go to waste.
I'm super happy with the alt-coin resistance. We just need some great news on few coins. I'm watching Dash, XVG, Tron, XLM, MCO card release at the moment.
same here. So many bullish indicators as of right now on many many alt coins. Unless it goes unphasic and BTC crashes while investors finally put their money somewhere else?
It's tough times. I really wish BTC would go sideways and just loose marketshare. That would greatly reduce the impact of BTC on the market.
So it’s 2 weeks down, then a change of trend! I need to free up some cash to allow me to buy back in! To the exchange I go!
Any coin that we believe in long term, needs to be HODLed FIRM!!!
Its hoooolld sir hold
google hodl and you'll know
and check this blog post on steemit about the word hodl
https://steemit.com/hodl/@thewolfofcrypto/what-does-hodl-mean-where-did-it-originate
I agree with your analysis. That it's down now does not mean it wont come back up again. If anything this is the time to buy loads of it. Those who understand the bullish market know how to play the game best. Well done.
My own analysis and study about recent swings also suggest that January - Feb would be defining another big leap. And, certainly, those who take risks in these times but with after thorough market study, often succeed.
Ouh