SUMMARY
Talk about a classic round bottom! TimeNewBank (TNB/BTC) is showing a very nice half moon and so far, Elliott Waves are jiving pretty well with it. The ABC corrective waves also seem complete and since the left side and the basin (blue rectangle) seem complete, price is about ready to build the right wall and I think it'll make quick work of it.
I've added the blue Elliott Wave impulse but the rise could be far more vertical like which means that the right wall could seem straight up while the left is curved. The MACD is also ready to support the upcoming price run. Even if price temporarily pierces the support line (white arrow); the projection should remain valid.
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!!
--
--
