I recently published a chart on MTH/BTC seen below predicting the current price action of MTH and saw an initial 50% gain. Original idea here: https://www.tradingview.com/chart/MTHBTC/QG4RlW8L-MTH-BTC-possible-Elliot-wave-2-completion-approaching/
Since the price action I thought I would update my analysis and try it on steemit for more feedback and for more people to follow me on this trade.
Proceeding with the analysis, if my wave count is correct we are in wave 3 of a larger Elliot wave cycle and at the time of writing in sub-wave 2. Sub-wave 2 will likely retrace between the 0.5 and 0.618 retracements as they love to do. So people that have't bought in can do so there. When we begin the next wave we will be in wave 3 of a larger wave 3 and for those who do not know much about Elliot waves. Wave 3 is often the strongest and NEVER the shortest. So if my wave counts are correct we could see a huge upside which is why I am going for +150% for this coming month. The product launch for Monetha is also on the 31st of March so could definitely add to the upside.
New idea: https://www.tradingview.com/chart/MTHBTC/6Yn7NJFX-MTH-BTC-small-cool-off-before-bigger-upside/
Buy range: 2500-2650 sats
Stop loss: 2250 sats
If stop loss is triggered which is below the 0.786 fib then we are likely in a ABCDE correction but i am confident we are not. There is also a chance we have not yet finished wave 1 if that is the case i will update the buy zone.
Sorry about the average chart quality i am only new to the trading view platform. Any feedback on the article or my TA is much appreciated.
This is not intended as financial advice an is for comedic purposes only