SUMMARY
Very bullish for TenX (Pay/USD). It placed a classic five wave up and then an a,b,c retracement. Chart pattern shows a probable cup & handle formation that would sling shoot it towards $0.93 or higher to attain 243% Profit Potential.
PAY/BTC pair is a bit behind the PAY/USD but form and fit have uncanny similarity. The target is 0.0015 BTC for a 5.25x Profit Potential. There is a chance that a cup & handle could form here as well. Bottom line, both PAY/USD and PAY/BTC are confirming much higher highs to come!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Legal Mumbo Jumbo: 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.**
Thanks, Haejin I value your opinion.
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I wish you MASSIVE profits!
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Hey Haejin, I have a question thats been bothering me a while. How come you look at the usd chart and btc chart and say there is for example 2x profit on usd and 15x profit on btc charts? I mean I understand they are different markets but all in all shouldn't the profits on either be the same in the end? Can you explain?
Not sure if I articulated that well enough. I understand that if btc price goes up alts/btc prices adjust because btc is the dependent factor. But in terms of gains I feel they should be the same whether you buy an alt in btc or usd.
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I've wondered the same thing @wil1523. I think it might have to do with bitcoin falling while altcoins rise, but the scale of it all still doesn't quite make sense to me.
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The price of Bitcoin seems to be driven by positive news, such as the announcement of the CME Group, which will offer futures contracts on cryptocurrency next month, that of Square, which will soon allow purchases of digital currency through its Square Cash application, or the statement of the Hyosung Group, which announced that its vending machines would soon allow to buy virtual currencies.
We can also mention the intentions of JPMorgan Chase, who would like to offer its customers the opportunity to speculate on the value of Bitcoin - even if its CEO, Jamie Dimon, had recently said that it was a "fraud".
At the same time, all the crypto-currencies of the "top 10" have increased over the last 24 hours - with the exception of Bitcoin Cash, slightly down.
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I believe News and Events don't drive price but rather price drives news and events. It seems very upside down, but Technical Analysis believes that price is a more direcet and upstream reflection of sentiment than news or events which is more downstream.
This is why Elliott Waves states that news or events shall arrive to justify the forecast, and never the reverse.
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I believe it. That the charts reflect the non-local event taking place that is the news, is the price, sentiment, everything.. Like full moons, babies being born and people acting loco.
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Thank you so much @haejin. I really needed guidance on this one.
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I think you may have a typo on your pay/usd chart though, your target is listed as .093 . From the chart it looks like you probably mean $6.93. Thank you for sharing your valuable time and knowledge.
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6.93, not 0.93 ;)
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Fan Favorite
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