Bitcoin (BTC) Morning Update: Non-Phasic to Altcoins...What does this mean? Check out this Analysis!
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SUMMARY
HAPPY NEW YEAR!! 2018 Shall be the YEAR of ALTCOINS MAKING EXPONENTIAL ORGASMIC LUNGES TO CONTINUOUS NEW ALL TIME HIGHS!!
Bitcoin (BTC) overnight price action continues to meander along a corrective zone. NO! A crash is NOT expected as it is still being opined by other analysts. I disagree with their conclusions and much of it is because of co-mingling of price analysis with news/events. Such comingling causes a terrible contaimination that debunks the end result forecast accuracy.
The below chart shows how the price is in the midst of a minor correction. The purple wave 2 is expected to be completed perhaps today or night. However, I also notice that Altcoins continue trending upwards. This suggests that BTC and Altcoins are currently non-phasic in their short term cycles. The video contains more details on what and how this non-phasic cycle works. Overall, once the BTC correction completes, I believe that then BOTH BTC and Altcoins will move Upwards; and therefore become phasic.
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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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
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LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
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.**
Thanks! Your 0x was spot on.
reward system is broken here guys @haejin please help us fix this!
Happy new year hopefully the reward's system will improve.
I wasn't able to get this one, but watched it follow the exact analysis haejin did! It's incredible how spot on most of the analysis is.
no it wasnt, he said 600% profit, so far 30% :)
Just be patience! It will happen!
Well, except for the upper target so far:)
just wait :) TNT doing what he said too
Phasic =correlation?
Thanks for the update :)
wow... good job !
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good information @haejin. HAPPY NEW YEAR 2018
I love learning from the charts. I spent New Years Eve studying charts, cup and handles, fractals.....and it was the most fun I've had on New Years Eve in a long time. The rollercoaster of the Verge re Wraith protocol roll out, the FUD around Bitcoin, and the steady growth of Steem and Bitshares. What a wild night! I think 2018 is going to be the year of the altcoins. Keep in mind, most newbies coming into the market do not even know what an altcoin is.
Happy New Year! @haejin and to everyone else thats following you!
I have followed you for a long time now, and i really love your TA, i wanna thank you so very much!
I have been trying to do my own TA, but somehow i like yours better. but i wanna share it.. and as i understand you have an alternated count. would it look something like this?
yeep dude XD
This is an example I made with BTC and LTC: they move in phase in the short time scale, but differ in the long term. In other words, their high frequency phases coincide, but the low frequencies don't.
Actually there is very little correlation at the begining of the chart!
How did you manage to overlay those two charts? Ty in advance.
I use www.tradingview.com
When you are viewing an "interactive chart" you get a "weight scale" icon on the top bar, which is used for comparisons. Use that to add other coins to the chart. I used the line chart to make it more visible. Using handlebars results in a really difficult to read chart.
Ty mate