SUMMARY
GAS is presenting a confluence of indication of an upcoming price rise. Currently, it's doing a very healthy correction in the form of a wave 2 which coincides with the handle formation of the Cup & Handle. The Downward Pointing Bullish Symmetrical triangle is also adding to the bullishness because this pattern exhausts the sellers. This triangle is labeled using a,b,c,d,e waves and each can be subdivided into 3 waves; 3,3,3,3,3. By the time the triangle is at or near the apex (the point at wich the two lines of the triangle intersect); most sellers have sold and gone home. That leaves only the buyers and a price surge follows. You see, it's all about the tug of war between buyers and sellers and sentiment is the underlining influence. The chart below shows how an impulse set of waves can take the price to 0.0113 BTC or a 170% profit potential!!
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
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.**