SUMMARY
What makes a breakout genuine? As a Technical Analyst, I always look for at least two rounds of mini-Impulse waves up. The below chart shows that AppCoin had started it's cryptocoin life with a correction. The genesis downdraft was an A wave of a corrective ABC. The red B wave subdivided nicely into threes. The red C wave showed the 1,2,3,4,5 subwaves.
A closeup shows that wave 1 and 2 of the initial impulse are complete and wave 3 could be as well, if not, a small higher high could remain. Once wave 4 and 5 complete, the target for 12,834 Satoshi should be viable. Following the completion of this impulse; the requisite correction would likely equal a 50% retracement; however, let's first finish this current impulse.
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
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
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Reached $1 earlier than expected. Big projects coming up next month as well as great communication from the team.
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Bitcoin Breakout IMMINENT! Where will it go?! https://steemit.com/bitcoin/@investingtips/imminent-long-term-break-out-up-or-down-for-bitcoin-this-is-a-pivotal-moment
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I sold my APPC and bought PRL. I feel like PRL has more hype/tech behind it than APPC. I’ve been wrong before though.
EDIT: no idea why I was downvoted instantly... :(
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great job bro
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Interesting coin that took a huge a dip, but let’s see how it behaves in the next bull run!
Great analysisi
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gold coin for us.
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Hallelujah!
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now it looks like Wave 4 has entered airspace of wave 1?
We have an invalidated count now?
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Hi Haejin can a wave 2 go that low? I can't remember seeing that before?
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Wave 2 can retrace as much as 99% of 1 but usually its 50% to 61.18%. Wave two just can’t equal the start of 1.
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now it looks like Wave 4 has entered airspace of wave 1?
We have an invalidated count now?
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you are the BEST!
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Thanks Boss!
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Too late sir you missed 1st and 2nd waves.
But any way thanks keep going
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I appreciate this analysis. The more we learn the more these patterns and opportunities become visible when others cant see it. Upvoted and Resteemed by @cryptoryno33
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Please check AMP
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Are ya'll still with me here? Things are getting shaky and less bullish. Hope you have been taking profits.
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Always posting very nutritional information
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I love you
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