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SUMMARY
Back two months ago, I had recommended Spread Coin when it was barely past $0.25 and had called the bottom at $0.19 to be in. This is the evidence of my performance...its ALL IN MY BLOGS!! I was criticized for making such a bullish projection because many thought SPR was a dead coin because its website had not been updated since 2016 and many other reasons. I disagreed because Technical Analysis used ONLY price data which is the most earliest and direct reflection of sentiment to forecast future price pathway. Elliott Waves states that after five waves, an a,b,c correction follows and I had determined that the correction was likely complete. The below chart was used:
The current chart shows that SPR has surged as high as $2.32. The short term target is $3.67 and then $5.31. ALL TIME NEW HIGHS...DEAD AHEAD!!
The below chart shows the longer term perspective and how Elliott Waves mold quite well with Chart Pattern Recognition. The Cup & Handle has been the guiding pattern for several weeks now and this enabled the awareness that a MASSIVE bull run was about to happen!
Below is that of the SPR/BTC pair and what a beauty! Dead Coin Walking the Stairways to MASSIVE PROFITS!! The Fractals indicate a highly bullish run to be expected. Yes, as usual, this SPR/BTC pair is lagging the SPR/USD pair. The first explosion has occurred and more rise to go. After a brief wave 2 interlay; I'm projecting 0.0009362 BTC!!
Note how the volume declined to a trickle as price approached the apex (the point where the two lines of the triangle cross). This completed the Bullish Ascending Right Triangle pattern. The rationale behind this decline in volume is based on the decline of overall sellers. As price approaches the apex, the degree of price movement contracts because the sellers are getting exhausted. As the Apex approaches closer, there remain almost no sellers except buyers and that is what explodes the price!!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: 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.**
I agree with your analysis. I think it boils down to personal preference. I for one will never invest in a coin that has no backing and seems shady to me. So I stay away regardless of potential profit. I feel its important for me to back the technology and I can earn profits that way too. Like vitalik said himself even with eth the vision has to change from lambos to actually passion for the technology. It is true in sense and that way Lambos will come themselves.
I'm tending toward the same thought. I have a long term portfolio I will not trade. I spend time on each website of the coin I would potentially trade going forward and if they are vague in what the heck they exist for or I don't like what they are doing, I'll pass regardless of profit potential. There are so many with clever ideas behind them to invest in, I don't need to go after ones that simply have great upside.
agree, but this rise is legit.
https://bitcointalk.org/index.php?topic=2671428
So I'd say Haejin's prediction to over 5 bucks is very reasonable.
@haejin how about ChainCoin (CHC)?
Great Info as always!
Wow, too bad I wasn't paying attention on this one. What do you think about this analysis on Monaco?
https://steemit.com/bitcoin/@benkalashnikov/monaco-mco-analysis-561-profit-potential
I bought SPR, BTS and XVG early on when Haejin first called their bottoms. They weren't the type I would have ever bought before discovering Haejin and EW analysis.
Great call!
Maaaaaaaaaaaaaagnificent (y)
How about a breakdown on XLM Stellar Lumens.
IT looks likes its on its way up $0.75. Does this look correct to you? https://steemit.com/xlm/@libertyranger/xlm-stellar-lumens-appears-to-be-in-an-upward-tear-now-at-usd-51-cents-per-token-going-to-usd-75
I have seen alot of dead coins get pumpped hard but its too tricky to get involve in them. There are a lot of risk but it pays well.
can someone point me where haejin talks about how to calculate how/which 5 wave will be extended ??
I'm enjoying reading your analysis every time! Thank you!
A great run! Thanks you so much!
Thanks for your TA @haejin ! Please do an update for EOS and VTC... That would be great.
Mooncoin . just starting to form a handle on a massive cup, right? could look like an early EXP or OmiseGo pattern?
https://www.coinexchange.io/market/MOON/LTC
Thank you.
Kaboooom! you are realy gorgeous!
Coin market is interesting. Some coin which there are no team support, the price still rise a lot... but why?
wow^^
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As has been pointed out in the comments of this blog it appears that the upcoming January 31st fork was the catalyst for all of this. Did the team buy up a bunch of the coin before the fork was announced? Now people will hear about the fork and probably buy into the hype. It is a very interesting Bitcoin Branding experiment. If it works out then other dead coins may use this gimmick in the near future. I made a video post about this here:
https://steemit.com/bitcoin/@bitcoinmeister/bitcoin-strong-brand-dead-coin-spreadcoin-s-forked-bspread-shows-the-strength-of-the-btc-name
Remember so long ago when everybody who bought was FREAKING out that they were never going to get out from under this coin.....the patient win again! The cycle runs again! The profits are MASSIVE AGAIN!
Agree!