SUMMARY
This coin has broken out of a very LARGE Cup & Handle pattern. The bullishness of this move could lead to impressive profits. The handle formation counts as an abcde and price has decisively breached the upper white line of the triangle. It is imperative that price stays above this line and not re-enter the triangle.
The 60 minute chart provides greater detail of the subwaves. The abcde of the handle triangle completed and as shown by the blue Elliott Waves, price exploded out and has thus far stayed out of the traingle. This is bullish because it means that there are no more sellers. The white Elliott Waves show an impulse in the making. Waves 1 and 2 seem complete and that means 3,4,5 are awaiting. This first impulse would be the second round of impulses and so a higher high would signal the bottom being in and the start of a trend reversal.
Legal Disclaimer: 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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Can you tell me what PO ET is used for?
thanks for the Charts.
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This week is looking a lot more positive for crypto. Hopefully we are starting to get over the January blues.
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IF the bottom is IN, then wave 3 would be at hand and wave 3s are the most violent in movement.
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Thx I'm watching the project for a long time already!
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I Was On Right Before The Big Bull Run! $0.02 Lol Sold At The Top! Made Big $$
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How do you think chinese new year is going to affect crypto ?
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Last week I think the New Year holiday would have meant a lot of people would be cashing out while they were away given the bearish trend so people didn’t want to risk losing on their portfolio with another dip. Although I think you still will have people cashing out as has become common during this holiday, the recent bullish trends the past days led by LTC yesterday will probably mean people will stay in this year. If you watch total market cap, it’s been steadily increasing again the past few day, albeit at a modest pace.
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Thx for the quick answer you are awesome man !!!
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Personally i think the affect is overplayed. We've experienced a correction for far more wide ranging reasons than the Lunar New Year. Weak traders have been exposed and have sold all over the world. Confidence is beginning to return and some of the damage has been rebuilt. Fingers crossed that rebuilding will continue but the whole process, the ebb and flow of the prices started long before the Spring Festival period and will continue beyond it.
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It boils down to sentiment that drives the price. I believe sentiment will recover.
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The upside on this coin is huge. It's one of the more interesting projects out there right now. I also think that the LEND and TNB tokens have a lot to offer in terms of real world usage.
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post a nice
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Steady @haejin
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Hi @haejin. Thanks for your share. I posted my analysis 9 days ago and i agree with your opinion. I am positive for Poe in long term.
https://steemit.com/cryptocurrency/@cryptoewp/poe-poebtc-ewp-analysis
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POE was literally my last purchase I made and it was a value buy when I picked it up last week, so a breakout would be nice, its been bouncing off the top of EMA so knew it was coming. Luckily, almost by accident, when I moved my most recent buy in from Coinbase as LTC, I didn’t use it all and still have a nice bag of LTC from $140, glad I put off using it for other purchases. Finally, BTC is hitting that fibonacci retracement resistance at this second just under $9,400, go BTC, let get bullish!
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thanks
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Thank you Haejin for educating us newbys and giving us optimism and oppertunitys in times of doubt.
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Please consider reviewing the tutorials found at the end of each blog.
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Thanks as always! Can you do TheKey (TKY)? Big news/partnerships recently, new ICO still around ICO price.
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Hey Haejin! As I'm reading your article, POE is going vertical (it literally started minutes after you posted). So I just bought some more of it and now watching it continue to rise.
Love your articles/analysis, and thanks!
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