SUMMARY
Here is 21 Million (21M), an Indy Media Production company token. First, it's thinly traded and so taking on a massive position would make no sense. Thinly traded coins have lower liquidity and thus makes it very difficult to enter and exit whale sized positions. Such actions are what at times cause price to spike up or flash crash. So, if considering to enter a position into 21M; perhaps small nibbles might make sense.
The below chart shows that 21M/BTC completed a common, downward pointing symmetrical triangle. It broke out in an explosion which had to be consolidated through a Cup & Handle which it is currently processing. The handle formation is nearly complete. To me, such represents an attractive buy entry. Since two patterns are coupled to this; the likely bullish scenario looks that much more robust.
Here is the price projection for 21M/BTC. A combined effect of two bullish patterns allow for a sustained run up. To this end, the Elliott Waves show a target of 79,844 Satoshi. Bear in mind, that there are two ways a /BTC pair can run. First, as BTC rises, the rate of demand for the altcoin must exceed the rate of rise for /BTC. The second is when BTC declines, this would raise just about every /BTC pair.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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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.