EBTC - on the hunt for ATH's? EW analysis on eBitcoin

in bitcoin •  7 years ago 

I came across this great article EBTC - The Coolest New Kid On The Blokz? where @janusface asked if someone could do an EW analysis of EBTC.
As I got a few eBitcoins myself I'll give it a shot here.

Daily chart reveal a young trading pair, price starting low so it is not a typical ICO free fall start. The waves are rough and price can exceed well this wave target.

Going to 1 hour chart we can count some subwaves confirming the mayor Elliot Wave. I can count the waves prior to here at least 3 different ways coming up with a fifth subwave at the peak, so I expect blue wave 3 to be done.
The red labelled correction forms a bearish wedge shape, leading me to think this correction could take some time. Volume however decreasing rapid enough to make me unsure. I expect price to bounce on the 5. red, going for the blue wave 5. If it breaks I got an alternate ABC correction.

Here I have removed the wedge correction and labelled up the alternate ABC correction indicating a lower low to come in the blue wave 4.

EBTC is clearly on a bullish path all over, and the Blue wave 5 is still to come. It could far exceed the set target here.

If you have another view on this your welcome to discuss and post your charts in the comments.

Upvote - Resteem - Follow

Comments are highly appreciated, and if you profit from this chart, or enjoy my post, please upvote, resteem and follow!


I have learned this profitable EW charting by @haejin btw!
These charts are done at Hitbtc exchange

If you feel like buying me a beer:
ETH: 0x478c06b33f2b03892dcbb03cd353defba356bc26
LTC: LQ3Jc2bq46Dc8FBkdDoDKtAtYp6mNdLDSa
BTC: 1NXnrq9WcF2BoL2dwAgNg85MZ2qiwN5e1j
BCH: 1GTzQYiTn2EqNt3YVp9LoCbzVvouHiHJAD

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Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BCHBitcoin Cash1842.580$-2.26%-28.27%
BTCBitcoin12151.700$-4.04%-11.04%
EBTCeBitcoin1.776$26.38%349.24%
ETHEthereum1105.280$-1.81%-17.06%
LTCLitecoin197.689$-2.78%-18.25%