Bitcoin (BTC) Update: Neck Line Support BREACHED!! CORRECTION LIKELY!!
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SUMMARY
The Neck Line of the Head & Shoulders has been breached. It seems more likely that the correction has started. A HEALTHY CORRECTION!! The chart below shows the detail of the breach. Could this be just a stab and price could retrace back above the Neck Line? I don't think so. I think we're having a healthy correction start.
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.**
MERRY CHRISTMAS.
EXACTLY!!
Haejin, Can you do one on TRX (TRON). Its about to hit the japanese exchange tomorrow. Wondering if its a good buy.
Yes please!
Brother please can you do a TA on WaBi?
Extremely grateful for your wonderful analysis Haejin. Yes - there are far too many noobs and people who don't want to learn to fish but just open their mouths instead. But that is to be expected in my opinion. I have learnt great discipline and knowledge from consuming all your content. Thank you.
I'm looking forward for a little retracement! It is exactly what we need.
Hey I saw berniesanders post about you...
I must say... Keep it up! Keep pissing these childish "whales/dolphins" off... the community decides what it likes, not some childish fuck-tard...
Have a nice christmas!
I wish you MASSIVE profits!
I have bought this dip in bitcoin, ehtereum and dash. I think the X-Mas sell off started. So I am taking these as discounts.
Never forget the "Hurry UP & Wait" syndrome of cryptos. They never finish their corrections this quick, it's almost always very slow.
But in long term bitcoin is going above 20k. Right ?
Please review my tutorials at end of each blog.
What do you think to this on BTS/BTC @Haejin? Have I drawn this correctly? (My first attempt from your tutorials) An imminent breakout?
Binanace Christmas sale is on! upto 15% off on BTC!
I am holding my ground. I might miss the train by the time this bounces back.
Please reveiw when and how I buy here:
https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial
I sold. I'll get back at the bottom. Maybe not as much....it was half my portfolio, and to have lost so much on one coin the last few days, isn't for me. Not that I lost it was massive gain..but yeah.
on which coin did you actually lose? I believe in a few days the correction is done and this counts for the majority of alts
No doubt...until i believe this bull run is over im just hodl'g because it bounces back before you know it...plus!! Frigen taxes...we are getting reamed in taxes here in the US
https://www.bloomberg.com/news/articles/2017-12-21/tax-free-bitcoin-to-ether-trading-in-u-s-to-end-under-gop-plan
Hi @haejin thankyou for your post! you've made me MASSIVE profits. would you mind to explain why the sudden sell, of your BTS 9 hours ago ?
I have not sold all. I have a trading account and so took some profits. I have core BTS holdings in another separate account that remains.
a bts update will be greatly appreciated
Would love a BTS update.... DAILY!
I suggest a quick BTS update to clear the cloud, I think many people brought this out in sacks!
Dips always come and go with the curves, most of us are just not fast enough to sell before the smaller ones start, and buy when they're at the bottom, but day traders do it all the time. It's neither possible to notify everybody before doing that, nor is it sensible. I agree that a more detailed BTS update would be nice, and a dash one ;)
When will you ladder back in?
after A-B-C corection. Will be updated as it goes.
Booyah!
at end of a,b,c correction. How I buy and sell is all detailed in my tutorial:
https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial
how did u know?
Thanks for the heads up. I was surprised to see my portfolio had taken such a big hit this morning.
Awareness keeps the surprise away. The H&S pattern was discussed two nights, last night and this morning.
Emotions under control. Sold a bit. I’m in no hurry. All coins hurried lately, so now we must wait.
Yes! The Hurry UP & Wait syndrome of cryptos!
Yes. Good buying opportunities coming!
We HODLING
I've taken some profits.
My profit incurs 43% tax. That means any re entry needs to surpass the tax loss? This must be taken into account before any attempt on selling takes place.
This is the part most new people trading don't understand. You can't just jump in and out without thinking about the tax issues surrounding those trades. So if you have taxes you then need to know how they are taxed.
For example you need to be very sure if your taxing body looks at your buys and sells on a First In First Out basis or allows you decide which coins you sold. This means if I bought some BTC at $500, then more at $5000, then more at $10,000 and I sold if it's a First In First Out I would be selling the $500 cost basis coins first and paying massive amounts of taxes. If I can choose then the $10k coins would naturally be sold first and the tax issue isn't as bad.
Anyways way to many people running around making statements as fact that don't understand all the tax laws out there. Heck I'm well versed in the US, but know nothing about anywhere else in the world so just the limited bit I just gave may not even be close to how it's taxed in other countries...for all I know some countries don't care about your cost basis. My state doesn't care about losses when you win at gambling which is insane, so who know maybe there are countries that tax the entire transaction.
Then lets add in that some governments are talking about treating different crypto as different asset classes as they are used in different ways. This will really confuse things if it happens.
They are not passing FIFO, so no need to worry about that.
In the US that was not included in the current bill, but readers are from all over the world so talking about that issue is important.
Well see it it's a correction or dip!