SUMMARY
The chart for Electroneum (ETN/BTC) shows pretty much that its ABC correction is complete. When filling in the subwaves of each, the 3,3,5 applies quite well. This has been a Flat correction. It has been beaten to a pulp and there is nore more any further selling can accomplish. All the sellers have taken their best shot and no more can be given. Such is the sentiment of a corrective bottom.
Now, let's see if ETN can come back to vitality! The C wave itself has been a bit curvaceous which hints major at the rounded price formation as the pattern to look out for (white arrow). The basin phase is where the price currently resides (blue rectangle). However, see how the MACD is ready and primed to support the upcoming impulse wave that will build the right wall of the rounded bottom formation. Is this the time to be a Buyer or a Seller of ETN? Such must be self made answers.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
