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RE: Bitcoin (BTC) Mid-Day Update: Waves and Pattern Project $10,387 or higher

in #bitcoin7 years ago

Try to accept some of Haejin followers, like me, simply believe mixing TA with fundamental analysis is a mistake. Elliot Waves method and all of Haejin's analysis are based on it, assumes news are events are already incorporated in predicted price pathway. It may be hard to process and feel illogical, but there are people, me included, believing in it.

If it interests You spend a few minutes to read Haejin's essay linked in the bottom part of each post.

I use fundamental analysis only before initial investment in particular coin. I need to determine whether I want to support and believe in a project. I ask myself whether existing or future product truly resolves a problem and I check the team. When everything's ok, I switch purely to TA.

Besides Elliot Waves principle, I truly feel trying to fundamentally analyse such a volatile market, with extreme probability that some thunder news (good or bad) will hit each day, adds nothing to my predictions. It's just too many variables that make whole analysis worthless.

What I'm trying to say is that people like me choose to focus on pure TA not because of laziness, but belief that such method is more effective.

One funny thing - next BTC wave up could very well finish around 26th of March. Haejin's primary count since more than a week predicts this moment as a end of wave D of triangle forming since the beginning of this big pullback. After D there should be wave E taking price down.

If this happens and price goes down after 26th, You can say You knew it because of fundamentals, I can say I knew it because it was already imprinted in Elliot Waves. None of us will change their mind, but it's ok, as long as we both act on our predictions and profit from it.

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If that helps you to make some bucks then why not.