OctoCoin 888: Lucky Number?

SUMMARY

There is a pair of fractals for 888/BTC. In Chinese Numerology, 888 is a very lucky number! The fractals could indicate a potential for a sideways move in price for the second fractal. But, given the greater maturity of liquidity for even the thinly traded 888/BTC; perhaps the much extended correction could be avoided? However, given the fractal nature, perhaps not.

Closeup shows that price is already moving sideways like it had for the first fractal. As price approaches the apex, I believe the sideways action could be limited. Let's see how the overnight price action proceeds. Regardless, the abc correction could require a sllightly lower low.

The proximity to the apex often can aid in the timing of the breakout. IF the breach is to happen anytime soon, then the blue impulse Elliott Waves could mark the first impulse round signaling a potential trend reversal.

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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