SUMMARY
Opt OUT of FIAT and OPT into CRYPTOS!! That's what's happening. In Microeconomics, there is a monetary principle called the Grisham's Law which states that bad money drives out the good. More and more people are exchainging their FIAT (bad money) for cryptos and this will continue for the foreseeable future. However, never underestimate the ones who have the most to lose by the execution of Grisham's law!
The below chart is that of AirSwap (AST) which is likely to proceed in forming an a,b,c,d,e triangle. Once thing I don't see on this is any uber bullish signals or patterns. This doesn't mean decent profits can't be made; however, given how purely Cryptos reflect sentiment, the more bullish patterns could propel the price more violently up!
The AST/BTC is not too far behind the AST/USD pair. The Elliott Waves all have Fibonacci relationships. These are explained in detail on the Fibonacci and Elliott Waves tutorial video. The target for wave 5 is 39,203 Satoshi and 35,143 Satoshi for wave 3.
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.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
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 - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
