Bitcoin (BTC) Evening Update: Bull Flag Fractals Everywhere!!
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SUMMARY
The daytime price action has contributed to forming a third consecutive bull flag pattern that can be seen in below chart. The Fractal #1, #2 and #3 have uncanny similarities. What is a fractal? It's a pattern that is not exact but very similar. Just like your right and left hands. In price charts, the fractals provide support and clues in the direction of price. Since the first two fractals lifted prices higher, the third should also do the same. I've laid out the Elliott Waves that could take down the $23,743 target and then the $26,440 target.
I'm also showing the below Head & Shoulders Top formation as potential. Forward discernment shows that the Left Shoulder and Head can be complete with the Right Shoulder in progress. Now, this is ONLY an alternate and so NOT my primary count. But still, something to keep a close eye one. The implication is a healthy bearish correction. The MACD is also indicating that they will likely turn UP so again, not exactly supportive of a Head and Shoulders decline. Let's see what happens during the overnight price action.
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.**
Forget excessive transaction costs, these transaction backups need to be resolved. No way the price can appreciate with this level of slowness.
@haejin would you mind doing a post on GRATITUDE (GRAT)? Just kidding about the ticker, it's not a coin, yet... Despite making massive profits the past few months, I'm still finding a way to choose greed over gratitude in many situations, constantly beating myself up for not having put more into a coin, for example. I would love to know what your self-talk is throughout this process and how we all might be able to benefit from it. Thank you, I love what you are doing here.
loving this question! I would like to invest in GRAT also, LOL.
@cascad1an I believe you are on the right track just in the asking ... :)
Yes learning to be grateful even when i miss out! Blessings and much love😇
I wonder ho much greed you'll be feeling if those who control the mining pools of BTC decide to put all those profits to work in the futures market and short the shit out of it! Only to then, buy it all back when every retail investor pukes and sells into the mother of all down trends.
Perhaps the gratitude you'll feel then is to be grateful you didn't lose you're shirt, just your unrealized gains.
Be careful out there. These are dangerous times for crypto, especially BTC.
@haejin @Cascad1an I'm am making profit at the moment but i feel like im always chasing a new coin or reading an article a day too late. Definitely can related to your comment @cascad1an
That's because coin gurus rarely post about coins when the situation is unclear, just compare the last fifty posts or so... whenever the situation is indecisive, not a word... except for bitcoin itself when the situation is really confusing. However when something looks as if it might explode, or does, "as I told you before, kaboom!" This isn't haejin's invention, it's what they all do and it's human nature. I can't tell you anything I'm not at least pretty sure about, can I ? So it seems essential that we all learn how to at least marginally read the market ourselves. Haejin keeps saying that and he's right.
Yeah of course i do my own due diligence, but its true that there are so many coins out that it is impossible to have a handle on all of them. So you do tend to follow leads where you can.
My comment was more related to the feeling of "beating myself up for not putting more on a coin" from @cascad1an 's post.
Thanks for the insight :)
@cascad1an a very good question!
I will be waiting for an answer too :)
Review @haejin'sTrading Nuggets post that is linked at the end of each blog entry.
Please review tutorials on laddering and buy/sell setups. It is genius, and will solve your problem, as it did mine.
up up and away!!!
Not if they can't solve these transaction backups.
Transaction fees so ridiculously high. I know people who spent $10 in fees on a $25 transaction
People be aware. If we do not remedy this problem, there is a real possibility of a departure from this platform. If you can power up, please do. If not, I understand. One other thing you can do is make a blog post, about yourself being an individual. Something of substance. These idiots think he's running 5k or more bots....that doesn't even make sense. You can help by powering up and by individualizing yourself by posting a blog. Thank you all. I hope it doesn't come to departure, but I have no use for the abuse, and you shouldn't put up with it either.
If you do the math, with 6k followers and growing, even adding 10 SP each would be a huge step in the right direction. Consider this option please.
there were many who were bashing him while profiting from his tips. I caught one red handed. I even saw a mock post and some comments in it which showed patterns of at least basic understanding of EW and patterns.https://steemit.com/steem/@netuoso/technical-analysis-proves-that-steem-will-either-go-up-or-down-click-here-to-see-more-charts-provided-free
I almost felt prophetic for calling for an invite only community with 2-3 posts a day on steemit for the public.
RP Rape is a manufactured crime and I say we need more of that. Don't just upvote shifu. Upvote the people who got flagged too. They deserve their reputation back and many more. This article says many things I want to say: https://steemit.com/whales/@taskmaster4450/whales-and-others-their-behavior-on-full-display
Spread the love and start raping.
I have quite a few. I’ll do this. Thank you
done
Good on you brother. Now start the withdrawal, it takes time, so start it now in case this goes way south.
what do you mean by withdrawl and going way south? I have some STEEM sitting on STEEM POWER when I open my wallet, is there anything else I'm supposed to do?
I'm not really familiar with STEEM so please help me understand what you meant.
I'm sorry, all new users should know this also....it tells you, but maybe you missed it. When you power up, it is considered an investment in the system. It takes 13 weeks to withdraw that money back to steem. It does it incrementally every 7 days. Click the arrow next to your steem power and click power down. Then slide your slider all the way to the right, and power down. You still get to use your steem power while you power down. If you put more in and powerdown again, it resets the 13 weeks....just something to be aware of.
got it
Hi Scarlet, Haejin, Blog friends!
Would be interested in knowing where people keep some of their coins.
Trezor, Ledger nano, online?
Most interested in reliable place for BTS & XVG?
BTC is on my Trezor, however dont think it supports XVG or BTS....
The other issue I often think of, is if something goes quickly vertical and yo want to sell, could miss the boat while the blockchain is congested sending back to an exchange from a wallet, would love to hear thoughts for discussion..
Thanks!!! :)
Storing BTC in hardware is for holding, through the ups and downs. BTS is safely stored on the BTS DEC bitshares.org
Thanks Scarlet, still need to set up an account for bts on bitshares.org...happy trading to you!
XVG has QT wallet. It is very slow to load, be patient.
Bitshares exchange is the most fun you can have in crypto.
Ledger holds many more coins, and adding more all the time, but user experience needs work. I prefer the trezor at the moment, with the coins it will hold.
Thank you!
Yes have a ledger and trezor and agree find the trezor must easier to use and feel more confident with it.
Bitshares exchange confuses me, if you have seen a good intro/set up video on youtube please share. Havent been able to find a good one yet :) Appreciate your input!
Love Trumps Hate
Upvotes Trump Flags
Shifu got over 1K followers under 24 hours despite all the hate and mockery (From a guy who made 7 posts in 20 hours:https://steemit.com/steem/@netuoso/technical-analysis-proves-that-steem-will-either-go-up-or-down-click-here-to-see-more-charts-provided-free)
The comments make me sick. From now on don't send beer tips to @haejin. Lease/buy SP and upvote upvote upvote.
@haejin should have brought al least 500 people to steemit. If steemit isn't grateful we'll make sure of it. For the first time these bullies are helpless when it comes to making posts disappear and nuking accounts.
There were many who got damaged due to speaking up. Let's give those guys an upvote too.
This is a guy called hendrix22 and note the lie about 20 posts a day.
Upvote @haejin - A minnow like me only get 10 upvotes a day. I use half of them on @haejin and sponsored him on @steembasicincome This will negate the efffect of downvotes.
Withdrw support from the violators of NAP. https://steemit.com/steem/@berniesanders/join-me-in-flagging-haejin-46k-in-abuse-rewards content of the above article made me undo one of my witness votes and I will not use the voting bots related to these violators of NAP(rando & buildawhale from what I know)
Do nothing. Keep your calm and know to vote with your digital feet when a better alternative comes and steemit start looking like Bitcoin community.
You may also find some good arguments here:https://steemit.com/bitcoin/@haejin/free-technical-analysis-for-anyone-by-a-15-year-veteran-of-elliott-waves-and-chart-pattern-recognition##@vimukthi/re-noly-re-vimukthi-re-solisrex-re-haejin-free-technical-analysis-for-anyone-by-a-15-year-veteran-of-elliott-waves-and-chart-pattern-recognition-20171220t092622332z
Good points. I also marvel at how people scream and call other persons to join them and go on a flagging spree. Why flag another person's post? It shows pure hatred and greed expecially if the flagged post is beneficial to a lot of persons content wise.
Funny thing is they're (the flaggers) the ones that champion the decentralization campaigns, but then they're been centralized and using the censorship gag.
Stop Hating, It's not Good For Your Health
If a people upvoted quality content and flag spammer/plaigarists the reward pool would naturally balance itself. @haejin's success could have motivated other veterans like @ew-and-patterns and @freeforever who have TA specialized blogs to keep posting more and more quality stuff attracting upvotes and balancing the reward pool via positive reinforcement.
Instead there is a massive flame war based on a manufactured crime. Steemit requires a clear constitution. We can't have lazize faire and authoritarianism at the same place. Opposing groups cannot co-exist; only alternatives can.
It's also very probable that some of these people are profiting from @haejin's calls. Here is one of them: https://steemit.com/bitcoin/@haejin/free-technical-analysis-for-anyone-by-a-15-year-veteran-of-elliott-waves-and-chart-pattern-recognition#@vimukthi/re-noly-re-phuzz-re-noly-re-haejin-free-technical-analysis-for-anyone-by-a-15-year-veteran-of-elliott-waves-and-chart-pattern-recognition-20171220t150619927z
I caught this person red handed lying and deceiving while profiting from @haejin.
My post that was nuked to oblivion is back positive. You may be onto something. Thanks, I've spent the day doing other things, but continued mulling these incidents over...
I really, really like your #2 above. Withdraw consent.
And #3 is arriving faster than we probably are thinking.
I was a supporter of Burnie's but recently have had a comment critiquing him nuked and I’m thinking maybe this community forming here is more deserving.
Communities are just formless collectives. What I stick with is the principles. I fought for a bunch of writers a month ago during exactly similar incident and I wasn't even a fan of those writers. I fought for them because of my principles.
Aggression is wrong.
Might doesn't make anything right.
Anything that doesn't violate NAP isn't wrong and shouldn't be acted against.
Force can only be countered with equal or greater force.
Anybody has the right to agrees against the first breach of NAP as long as the following aggressions doesn't far exceed the original aggression.
Right permits might.
Acting against a first breach of NAP isn't a crime although it could be morally impure/ a sin.
Eg: In the case of an armed robbery. First-degree murder by potential victims is a non-crime given that,
1)The perpetrators were armed with weapons capable of threatening a Non-Agressor's life.
2)The perpetrators were not tortured
Prevention is better than cure. The greatest justice is prevention of crime. A crime is an aggression against a person's life, liberty, property. Law & Order should under no circumstance should punish the second aggressor for anything that doesn't go above neutralizing a threat to a non-aggressor's life, liberty, property.
Justice is pointless if it's a stable closed after the horse has escaped. The point of Justice is allowing framework for the Non-Aggressors to become immune to aggression. Criminals should fear victims and the only way that's going to happen is by making it open season for criminals.
Eye for an eye shouldn't be enforced but allowed as nobody would dare to take another man's eye knowing that it would make it open season for anyone to attack him with enough force to permanently psychically damage the aggressor without killing him.
I saw your post earlier and went away for a while and returned to comment. Then I saw it nuked. Didn't even bothered to upvote because of those massive high value flags. #3 is most certainly arriving faster than we probably are thinking. We are where BTC was 4 years ago.
We have to do our best to fight this war in a non-aggressive way. @haejin only made one BTC post instead of 4-5 he would have made by this time. This would be discouraging to other veteran TAs like @ew-and-patterns and @freeforever. Few such TAs competing for upvotes in a free market would have easily balanced the reward pool while making the community a better place.
I was starting to make about 10 long posts a week and was thinking about doing 12-15. After the recent incidents I'm going to just post 3-5 simply out of respect for my friends and followers on steemit.
Your nuked post reminded me of Tokyo Ghoul Season 1. If you have 4.5 hours to spare please watch it. It'd give it a 10/10 It's based on what's about to become the highest selling non-shounen (Teen) manga.
Hmm, I don't see it on Netflix.
Is it on netflix?
Yes it's on both Netflix and Hulu.
Nice, will watch while keeping an eye on Blockfolio :) thanks man
Currently I'm mostly on BAT, MCO NEO, Doge, ETH (X5 leverage) and my steemit minnow account. I'm doing ok.
If you give me a list of your preferences I can make a bunch of recommendations.
I'm sitting on TRX, MCO, SYS, PLR and ARK. Still learning how to ladder in and not sure if I should be taking profits when the numbers hit @haejin's targets or take profits before that. There was a climb over night, but seems to be retracting now. Speaking of MCO - are you at all interested in actually using their VISA cards for real world cases? I was thinking of ordering Ruby card for my self. 1% cashback on crypto sounds fun.
Very interesting... I couldn't even load the post under 2), so I only saw the first lines... this network is very badly designed not just graphically, but it also brings out the worst in people when they actively start fighting each other. Features are missing here, I personally like minds.com better, their payments system hasn't yet managed to create so much hate... then again, remember that BernieSanders types often live off welfare and see the creation of valuable content (which is what @haejin does) as a danger to Egalitarianism in general, and that it reeks of Smart Privilege ;)
Personally I think @dan has a naive teenager's outlook about humanity. The loss of curation rewards isn't going to stop any hater from doing damage. Negative reinforcement doesn't work as well as positive reinforcement. current setup of flags makes steemit a zero-sum game when it comes to voting.
There are more high quality content on steemit than low quality content. Therefore I think flags should cost twice the voting power depletion compared to an upvote. This way a person would be forced to flag content that are obviously negative content such as spam where people would be more than willing to support such flagging resulting in punishment to the spammers. even if good posts get flagged, $100 upvotes can withstand $200 in flags.
Never trust people. Trust incentives.
I see 3 types of Bernie supporters (much like the supporters of the politician)
1)Self-Righteous authoritarians
2)Jealous/misguided people adopting commie logic/arguments/methods as a reaction to things they see (Like a person's success or what a person deserve etc.)
3)Just bottom feeding moochers who'd support anyone driven by greed, hate etc. One of those who were calling @haejin unfair and RP Rapist was actually serial spammer and photo plagiarist which I reported to steemcleaners and I saw that account later with 16 reputation.
+1 for anything but the politic statement :-)
I often don't see eye to eye with your comments (that's not a knock, just information) but what you just said is exactly what has been going through my mind. Those kiddos remind me of the kids around my town. I call them kids, but they are in their 20's and 30's. They somehow have developed the idea that they deserve something for nothing, and constantly try to tear down anything productive. They also usually don't have jobs, and scam people regularly....ie bernieflanders using tons of bots and accusing Haejin of doing that (which he isn't) and acting like it's a crime. I'm not sure who taught them these shitty ideas, but somehow they think it's "cool" to be a completely useless loser in life.
I'm given to being sarcastic, don't take everything I say at face value - in doubt, just take at face value what I'd like to be taken at face value ;)
I'm 35, so I have lots of acquaintances among THEM - it's a natural way to be if you grew up under the current situation, have never been challenged and are still a TV addict in our late twenties or so. So many may see this network as another SJW honeypot ;)
Thanks for the point to Minds.com - I am currently looking for a landing spot for a possible Exodus. That site looks much more refined than steemit. I will look more into their terms and how it works. Thank you.
There's lots of political controversy on minds, be prepared for that ;)
You can switch it off, though. Ask me if you have problem.
I really don't think it's their age, or what they grew up under, or even Television. I am the age that many of them are likely close to, grew up under the same system, and watch TV regularly. It's something much deeper than that I believe. It's a sense of being powerless, and falling into a dark hole of depression because of it. That is covered up with layers of substance abuse, violence, and being empowered by others going through the same thing. Misery loves company.
In my opinion, the absolute worst feeling you can experience as a human being is the feeling that something terrible is happening in your world that you just have absolutely no control over. There is no solution, there is no answer, there is no way to keep it from being the truth. That feeling causes people to sink deeper, and resort to extreme measures, no matter the cost to themselves or others in the long run. It's an very self centered view of the world. Maturity is generally what we used to call it when people got over those things and started to think of others more positively and how to solve issues rather than dwell on the things they cannot change. We are so far off the path that was laid before us that it looks to some like burning down the whole forest is the only way to see where you're going, when that really only leads to being lost in a landscape that is even more obscured by the enormous realm of nothingness.
Remarkable insight into the adolescent mind, I had started to forget about those woes (but I've always been sort of outward-oriented and found multiple ways of influencing, to a degree).
What path do you actually mean that "was laid before us" ?
I tend to see these things from a neuroanthropological viewpoint, and that's of course a bit removed from the subjective inside-out view of the average human being, though it will in the end cover up.
Maybe too late ;)
The path of the mind itself. The path of the self. To be evolutionary, to build on what we have overcome as once we were purely beast. The development of the frontal cortex as the most densely ramified organism of biology is the largest leap evolution has ever made in one short time period. If you believe that sort of thing....I mean, the same organism is the one telling us these things.
Thanks for your great analysis @haejin. I think (hope), as Bitcoin Cash seems to be settling down, that Bitcoin starts a steady comeback. People seem to be fairly prone to excitement right now, and Coinbase adding Bitcoin Cash, seems to have caused some major excitement. lol
haejin's analysis is not based on any news but solely on the price. It has proven right many times already, his analysis gives you a peek around the corner and what follows is the news which try to justify the charts in the aftermath
Great! i hope it will be 25-26k on the new year so i could buy new pc :D
What kind of PC do you plan to buy ? I hope it won't be 10k + because that's too much = )
If it hits $25K, I'll buy 2 new PCs! and a new drone (DJI Mavik Pro)
good luck to you guys :-) hopefully you will share with us some nice pictures that you are going to take with your drone :-) best of luck!
The hype is real :D Hopefully its gonna hit even more than that . I heard that bitcoin is gonna reach very high price by the end of 2018. So patience folks = )
I whant super fast pc for 4-5k$ :D
Could you please do an update on EOS?🚀
EOS
$15 & $22
$22 could also be top of wave 3
Awesome!
Man, I love elliot wave pattern after seeing this! Party at my house if we hit 26k haha ;)
where?:)