SUMMARY
On March 9th, I had posted the below chart of EOS moving within a broadening pattern, the third most common type in Altcoins. The bull wick was expected to complete the terminal end of the blue d wave. This would have provided the final cleansing of weak hands prior to a trend reversal.
The bull wick remains incomplete as price has to rise back above the lower white trend line. The white arrow shows a potential pathway. IF price remains below the lower line of the broadening pattern, it changes the count, pattern and direction. It's likely that EOS will start impulsing upwards and allow the retake back inside the Jaws of Wealth. IF Bitcoin remains in an uptrend, EOS most likely will also.
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?
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