You are viewing a single comment's thread from:
RE: Bitcoin (BTC) Evening Update: Mosquito Fractals!
Wasn't the apex much closer like 2 days ago? I swear it always looks like we're on the verge of a big break out like every day. I've always followed and upvoted, now i am starting to question. I mean I know TA is about probability, but I can stretch or contract time on the charts and draw wedges and triangles a thousand different ways. When I look at BTC over 1 year, i can't see a super clear ABC 12345... I have always stuck up for haejin, but I can't tell if he doesn't want to shoot us straight and wants to forge some level of support for crypto even in a super bearish market, or if he's just been wrong more often than he used to
The fact is, we are in a downwards trend and we have been in a downwards trend for quite some time. I think we are going down to 6K, then a little bounce, then down to 4K and below (in April, 2018). This larger dip will be short-lived. Big money bankers (Goldman-Sachs) are opening up new crypto-trading offices on May 14th, which will bring even more large investors into BitCoin. Before the "big boys" jump in, they will shake out the weak hands with a bunch of pump-and-dumps to get the price down as low as possible. Then, they buy massive amounts at low prices, sending the price into moon orbit. Buying anywhere around 6K or lower is fine - but it still might go as low as 2K (middle to end of April) before we get our moonshot - that will probably spike around late summer (July - August - or later).
Trying to day-trade ends up being very difficult not to get yourself into a position where you are "over-trading" which, is basically eating up any profits you could have made with trading fees. Unless you know what you are doing, and are using an amount over 5K or 10K, fees will eat up your ability to make much profit. Mark my words - WE ARE GOING LOWER for a while. Sit tight, watch the action, check in every day - and buy the dip. Right now, this is just the beginning or middle of the dip. We're still going lower. We'll get a good bounce at 6K, then another good one at 5K - but the trend remains bearish until we get into the 2K - 4K range. Problem: when the price goes that low, big bankers will scoop up BTC before most people can take advantage of those low prices. They will do this in a very coordinated and secretive way, lest they tip off the general public as to what is going down. Their buy-in will probably be done off of the major exchanges, from an early investor who holds tons of BitCoin and wants to cash out at massive profits. When people find out what has happened, it will be after the fact. The big dip and buy-in will probably only last a matter of a few minutes, if we see it at all - most people will miss out on buying the low. So, buy in around 6K, then some at 5K, then some at 4K... by the end of summer you will be able to take big, big profits.
The debate over haejin's repetitive postings is a valid one. He talks a lot without really ever saying anything. He knows it's a bear market - yet he still gives people hope of "getting rich quick" because they are gullible and he tickles their ears very effectively. He's quite good at what he does, both as an analyst and as a "salesman." For him, it is clear that SteemIt is a great place for him to ply his "salesmanship" craft, and he is being rewarded with big money for doing so. People on SteemIt don't like it - but mostly the ones who haven't honed their craft of salesmanship quite as well as haejin has. Trust me - haejin knows exactly what he is doing, but he's not being authentic with everyone. When a used car salesman sells you a car, he's going to emphasize the positives. He has no idea if the car will go 100 miles or 100,000 miles when you drive it off the lot - but he's going to tell you that "it COULD go 100K miles" and he wouldn't be lying to you - just working for the best price he can profit from.
There's a reason why haejin includes a disclaimer in every post he makes - because he's telling you, right up front, he's not a financial advisor and you won't get rich following his advice. He is correct about that, half of the time. As long as BTC is going down, he's wrong - but, as long as BTC is going up, he's right! He always gives a bull/bear scenario - that way he's never really "wrong," but he can always claim that he was "right!" I read heajin like I read the horoscope every day - it's great entertainment, but don't make your life plans based on your astrologist telling you, "There is a very beneficial financial decision in your future."