STEEM Doesn't Know How to Correct Quickly
SUMMARY
Most will recall how slowly STEEM passed through the recent Cup & Handle pattern. Many lost their patience with this coin duing the very long, extended pattern formation of the Cup and threw in the towel to look for the next quick fix. I've been very consistent: Altcoins correct very slowly. They almost don't know how to correct quickly. I don't see the a,b,c spike down on STEEM represents the end of the current correction. It will drag on a while longer. It's the Hurry UP & Wait syndrome!
The below is not a projection but one pathway STEEM could take to eat more time. This correction would then form the a,b,c,d,e (3,3,3,3,3) pattern. After a near vertical move, Altcoins only seem to know this slow mode of correction.
Very common, and already visible in EOS, DOGE and other coins, is the sideways movement of price. This is typical of the double and triple combinations. The below chart shows how effective these WXY and WXYXZ waves can allow the slow churning of corrective direction. It could be a bit while longer before this correction finishes; not in a crash scenario but perhaps a water torture type; as it had previously during the Cup & Handle phases.
Legal Disclaimer: 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.
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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water torture, interesting metaphor but it makes sense lol
Let it take it's time. I'm holding long.
I think it's the Koreans that will finally save us from this water torture. Steem/KRW is on UpBit, the No. 1 exchange in the world by volume, and the Korean community on Steemit is growing rapidly. You can see that by how the kr tag is slowly but surely moving to the top of the Tags list. Once a massive pump gets going from there it'll be a sight to behold. The money is definitely there on UpBit to do it.
haejin TA is like this pile of poo!!
Most of them fake and/or dead. Moron.
you replied to the wrong comment friend
That's fine with me. I'm holding Steem for the long haul!
I sometimes feel Haejin's TA is Shit! Like literally. I'm no hater tho. But He is kind of go where the water flows type with some mixture of a couple of Technical terms.
Much of TA is little more than voodoo, but if it's right 55% of the time, then you can make money with it.
haejin TA is like this pile of poo!!
8 TA in 32 hours of Bitcoin. First it going down then little up then down then correction to 8k then diagonal now alternation .In 8 TA fucking at least one will be right.Shame on that blind people as well who trust your these bullshit.you losers have few accounts who speak truth about you.You flag that like you starjoni account your other one.Eat shit of other experts like matt2016 and @salahuddin2004 .Learn something.i lost money by your shit TA.i will fuck you.
Other guys was right about you.
Haejin making people fool.First in bullish market he give buy signals now trying to give sell signals in bearish market but this drama will end soon. @salahuddin2004 target for eos 19.50! I know this time this crap will lose because God know everything.big cheater big rascal.trying to hide my comment that people dont see truth.
@bachone @berniesanders @spiritualmax @stanhopeofficial @rikuforsell @estream.studios @ngc @danknugs @theyeti @sonny.dharmawan @t-belema @the.bot @ozchartart @rewardpoolrape @nextgencrypto @lopa @decuration @haejinsucks @tuvokhl @tmntzara @supermeatboy
I made 40% from the STEEM call over 3 weeks.... Sold at 60k sats, just rebought in.
Considering this is a bear market with lots of sudden drops & coins not moving/currently at a loss, Haejin has done well.
Maybe you just need patience instead of wanting to be an instant millionaire.
PS: He also correctly called the CND short - I sold at 3100 sats and rebought in at 2300 sats based on his information & my elliot wave count.
Take some profits of Fork pump opportunity in HUSH
https://steemit.com/bitcoin/@suitsatwork/bitcoin-hush-btch-opportunity
This coin did just go up 30% in a bear market to a current high... Plenty of opportunities to buy in at 35,000 sats.
Steem seems very interesting at this point. More and more apps are coming online and user acceptance continues to grow.
I have not lost my faith on $100 STEEM by year end or sooner.
It is taking awhile.
Why people hates @haejin for a no reason.
Hey haejin haters do you guys have reason to hate him ? Give me just one reason.
Who else support @haejin with me ? 🙋🙋
Haha @lalu24 talai kei tha chaina
😂😂
i too agree with your opinion. regarding buying and selling they will decide. but fact is a fact. nothing wrong in expressing. good posts with facts
A detailed analysis there and thanks for the earlier observation.
I see great opportunity in HST token because I can't see exaggerated marketing about HST unlike other coins (or tokens) without any good project. Once, they will emphasize marketing, the price will skyrocket and I want to participate in it. Right now it's listed only on Cryptopia, Kucoin, EhterDelta, and LiveCoin – once listed on some big exchange like Binance or Bittrex, the price will fly to the moon!
http://promisingcoins.com/hot-tips/decision-token/