SUMMARY
Note: For anyone who missed the BitcoinLive Information Webinar, here is the replay link:
As of June 4, ALL Crypto Analysis will be posted on the BitcoinLive channel and Steemit will be dedicated for Equity, Commodity and Options Analysis. To Signup for the BitcoinLive limited Founding Membership slots, use this link: https://get.bitcoin.live/haejin/
__
And yet another sign of a potential recessionary times that could be approaching! The weekly chart of L3 Technologies (LLL) shows that an impulse wave is pretty much complete and that wave 5 is extended!! An extended 5th is often a harbinger of a very deep retracement to be had. Would this be an ideal time to be taking profit sell or just buy no matter what?
The ABC retracement could be to the prior wave 4 (blue). Could it go much lower with the extended 5th? Yes. The MACD could go lower a bit more but then a bounce would correlate with the red B wave retracement. I believe companies are alrady laying of workers because they already feel the economic slow down. Those firings could become more frequent with other companies taking the same cost reductions. Could the Cryptocurrencies be seen as the SafeHaven from this equity correction? I don't see why not. Bitcoin is perceived as an excellent store of value.
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!!
--
--
