SUMMARY
In life, nothing is written in stone. Why? We live in a world of imperamanence. That means the only permanence in this world of imperamanence is change. So, my perception of a coin like 42/BTC is that it will not remain where it is in price. The most ideal way to determine the probable direction is to effectively use Elliott Waves and Chart Pattern recognition. While the chart pattern below shows a generic pattern, the resulting potential breakout could be surprising, Most are surprised whenever trend reversas occur.
From a micro Elliott Wave perspective, the handle formation seems to indicate an abc for the handle formation of the Cup & Handle scenario.
The below chart shows the likely price move where the terminal C wave could not yet be complete and so current buying spree should be laddered, at best.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It shoud not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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