SUMMARY
Cryptos have personality traits that are unique from equities or commodities. Crypto price movements are still the purest form of sentiment reflection. There are certain price patterns and Elliott Wave extensions that are much preferred by Cryptos and this is shown in Aragon (ANT). Triangles are the second most common patterns and two are outlined in the below chart. Whenever there is a triangle pattern, it most usally represents a wave 2 or a wave 4. I believe the current triangle pattern represents a wave 2 of a higher degree of trend wave 3. That means this triangle, which is still in progress, could present an opportunity to cast an entry ladder at its terminal end.
To assess how far the triangle pattern has traveled towards completiong, subwaves can be used to help provide "geo" positioning of Elliott Waves and direction. The triangle here is labeled with a wxyxz because the pattern has potential to extend the sideways movement. For now, the blue Z wave is not yet complete since its subwaves abc are still in progress. Price is also too distant from the apex, the point at which the two triangle lines intersect. Patience and discipline are required and this means not jumping into any position without the indicators for the terminal end of the correction.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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