SUMMARY
Cloak Coin (CLOAK/BTC) is putting in the a,b,c,d,e waves of a triangle. This pattern at the end of a Cup & Handle pattern is likely to be on the bullish side. These triangles are usually guided by the position of the e wave position in either the bottom or top line of the triangle. When it sits on the lower line, price propensity is to rise.
The overall bigger picture suggests that this CLOAK/BTC pair should move up given how the a,b,c red waves seem complete coupled with doulbe rounded bottoms. So, if BTC takes a lower low position, that could raise the Cloak/BTC pair. Let's see how the overnight price action plays out.
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?
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