SUMMARY
Note: I've never endorsed an ICO or any pre-Sale ICO and have declined many mostly because they seemed overly pump & dumpish. However, after speaking in length with Jacob Laukaitis, the CEO of Explorio and studying its highly executable business plan; I am quite impressed by the utlity and potential of Explorio which aims to decentralize travel bookings and reviews. A pre-Sale is in progress and an ICO is targeted for July. If you have interest, please feel free to conduct your due diligence at this link: Explorio!
Bitcoin (BTC) continues to track Ethereum's (ETH) price action. ETH is approaching wave 5 as shown in below chart. Its blue subwaves could also be almost complete. I've raised the wave 5 target to by $10 more to $842. Notice also how the subwaves are traveling well within a channel and that is very indicative of an impulse in progress. What happens after wave 5?
Elliott Waves states that after a five wave actionary motive, there is a reactionary, requisite retracement. For now, I've drawn this as an ABC retracing down to the 0.38 Fib zone. However, the retracement could also reach 0.618 or even 0.78; note how each of these zones have a cluster price support.
Bitcoin (BTC) is a bit behind ETH because it broke out about half a day after ETH, from the symmetrical triangle. BTC white wave 3 is still in progress and could touch the $10k mark very soon! It still needs to do wave 4 and 5 should take it well within $10k. Again, that likely would complete the five wave sequence and that'll be followed by an ABC retracement as shown in below chart.
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.
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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