Are We REDDy To Impulse Yet?
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Ok, so this is the first time I analyze this coin. It has had a meteoric rise the past month and I've completely missed out on this one. However, found some good signs and there's a window for making some gains here. This time, I've made a little more explanatory analysis and I hope the screenshot is not too cluttered with information.
So usually I base my predictions on counting Elliot Waves, (studied the great Haejin ). But in this analysis, I saw a pattern of three descending triangles which of each has had a following impulse.
Triangles:
Often times, triangles tells us how big the next impulse will be when it breaks out. It's very simple, just measure the price range of the triangles starting point and then use that same range at the end of the triangle. I've pointed out three light blue lines in the screenshot. So after I measure how high the price target is, I draw out five Elliot Impulse waves.
MACD:
The MACD shows if the coin is overbought or oversold. I've pointed out 4 scenarios where we can see a price impulse when seeing the blue line crossing the orange. This is a bullish sign and we can detect this scenario as well in the near future since we're in the end of a ABCDE correction and it looks a little oversold. Also the volume has decreased which is a good sign too.
I think we're gonna see a minimum of 53% price move in the near future and I wish you major gains.
If you like my blog, please upvote and resteem. This analysis was a request from twitter and I'd be glad to do requests here too since I care the most about Steemit.
Investment summary:
⭐⭐⭐⭐ 4 out of 5 stars on this investment
🤑 Short Term Target at 0.00000217 BTC
💲 Potential profit 53%!
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
I hope those projections are right $$$ :-) I'm versed in elliot waves, fibs, etc. What is great is how often those levels much up with the support/resistance points I find along with expected ranges.
At this point I'm down to just using trendlines and reversal patterns. Cryptos trade like stocks in the late nineties. It's great
Yeah, it's truly an art! Hope it continues this way for a while. It will get more manipulated by time :(
Thank you for validating my Love for Redd coin.
My pleasure!
Thanks for your TA @benkalashnikov 👍 Any long Term Prediction for RDD?
Not yet sir, will update when we get more data
Good post. Thanks for the info.
Thanks!
This post has received a 3.0 % upvote from @boomerang thanks to: @benkalashnikov