SUMMARY
Note:
Apologies for delay on this analysis request fulfillment. I have a backlog and tried to get to it as soon as possible. Please use only to augment your due diligence.
Ripio Credit Network (RCN/BTC) is quite interesting in its pattern. The bullish, downward pointing symmetrical triangles are uncanny in their fractal features. What is a fractal? They are patterns that are quite similar but not exact. Fractal #2 shows that price is already starting to pierce upwards out of the upper triangle line.
If Fractal #1 is any guidance in how it broke out and reached 3,400 Satoshi; then the green vertical line represents a potential guide for Fractal #2. I've included best possible orientation of the initial impulse waves as this was done on powerpoint. This setup is quite bullish in pattern.
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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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