SUMMARY
First, SNGLS/BTC is a thinkly traded microcap. This is NOT to be seen as a huge position opportunity as it does not have the liquidity to support large holdings.
SNGLS/BTC can display erratic looking price wicks, as it common for small or microcap coins. But often, these are the ones where phenomenal profit opportunities reside. As BTC is correcting, SNGLS/BTC has been getting enough of a lift to breakout of the downward pointing symmetrical triangle. The blue waves show a tentative pathway. Regardless, should BTC take a faster and stronger trajectory towards $8k; the white circle represents a zone for the blue wave 2 correction. A lower low could be probable, pending sentiment strength into this correction. However, casting a small ladder for a position within the price range inside the white circle could be opportunistic.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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