SUMMARY
Peerplays (PPY) is a very thinly traded cryptocurrency! It therefore has less liquidity and likely, a wider than usual spread between the bid and the ask. Buy/Sell at your own risk!
The below chart sows PPY/USD with a handsome Cup & Handle that is nearing a completion zone. If so, then volume could pick up and popularity pick up which would raise the liqudity! From the bottom of the Cup formation, an impulse set of five waves (blue) can be counted as shown in the chart. The handle can be labeled with the a,b,c,d,e markings and once complete, it could signal the compleition of wave 2 (circled white). What comes after wave 2? Wave 3 and per Elliott Waves, wave 3 is NOT less than wave 1.
The PPY/BTC is lagging the USD pair. I've explained numerous time the rationale behind this lag and how the USD pair can lead the the BTC pair. IF the demand for the coin can counter the rate of change for Bitcoin, higher highs are likely. The submicro Elliott Wave counts are shown to depict how a larger formatio of a Cup could already be in progress from a forward discernment perspective.
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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