SUMMARY
In Altcoins, upward impulse motives are almost always near vertical. It's the Hurry Up & Wait syndrome. DeepBrainChain (DBC) is no different as the below chart shows it's initial rise was a vertical five wave sequence. The correction was very wide in time and price extension going sidways. It was a very lazy ZigZag (5,3,5) pattern. What's next?
There is a bowl within a bowl and these are for that matter, extra bullish. The embedded patterns allow for greater degree of consolidation and to what exctness; I don't know as I have no quantitative data on this compiled, yet for cryptos. The below chart shows the blue rounded formation as a subpattern to the greater white one. As every rounded formation has three parts: left wall, basin and right wall; DBC has already started building the right wall. This has already started an impulse upward and wave 1 is still likely in progress. IF this is the trend reversal; some exciting fireworks are ahead.
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
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Tutorial on the use of Fibonacci & Elliott Waves
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Previously, I thought his analysis are garbage. But now, when I am slightly more experienced trader, I agree with them. This means, that total beginners may not understand the analysis, but they are good and valuable.
Sir,i always read your post and upvote you.you are really a wise man
This is going to be tough to be able to predict the outcome of the market. But one thing am kinda of sure is that they wont put a ban on cryptocurrency. There's going to be lots of attempts at centralized regulations but the specific regulatory guidelines is what I can't say...
So lets hope for the best while hodling on.
tnx for update cryptocurrency blockchain @haejin
big bag
Upvote
Good update.... Keep up the good work
Really good Update .cryptocurency is increasing now .its a good news for me .
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Good times I am hoping are coming and we will soon see a bull run
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Is It just me or are the names of some of these ALTs a little weird and worrying lol
the spirit of seeing your post makes me more confident in steam investment and dollar steem to accumulate, I myself was very tempted by the price changes in your post this time @haejin
Can some trading technician, predict the btc price? I don't think
Coins mentioned in post: