SUMMARY
Whitecoin (XWC) has displayed a vintage Cup & Handle pattern as shown below. This is an extremely wide cup pattern but still valid! The handle formation is classic and is really a downward pointing bull flag.
The chart below shows how price breached out of the handle formation and then impulsed up five waves. There was an a,b,c,d,e horizontal consolidation before wave (v). Elliott Waves states that after five waves, there is a requisite three wave correction. If the red a,b,c correction is complete, I've placed the blue waves as potential price pathway towards $0.0798 or 101% Profit Potential.
Here is a high resolution chart-microscopy to see how complete the red a,b,c waves might be. As you can see, it seems quite done as wave c is fully blessed with all five subwaves.
Below is the XWC/BTC pair. This is a bit rare chart pattern: Triple Rounded Bottoms! See how each rounded bottom is higher than the previous. The more bottoms, the more powerful the launch base. The last one has a cup & handle bullish pattern. Once price breaks out of the handle formation, price should impulse up as shown. The target is 0.000015728 BTC
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
--
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: 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.**