NANO: Attractive Patterns & Counts!
SUMMARY
NANO/BTC completed an aggressive impulse (black) waves and is displaying a well formed descending wedge that can be labeled with abc (red) corrective waves. The retrace has been deep give that wae 5, while not very extended, was longer than the usual 1.5x of wave 1. However, the key question is: Could the bottom be in? This chart is from bitscreener as tradingview did not have the full scope of price history.
Here is where tradingview picks up; basically at the start of the descending wedge. It's been labeld and sublabled so that wave C can be seen to have five distinct subwaves. This corrective retrace is likely complete and the most ideal time to buy is at the terminal end of a correction. The trend reversing impulse was also very solid and decisive and now, the key is to see how the requisite retracement will look like.
I believe a likely pattern could be an abcde triangle. IF this remains correct, then the second round of impulse should begin at the completion of wave e. The white waves from e shows a projected price pathway.
As there are 36 possible corrective comginations, one can't rule out the standard abc correction and so the below is an alternate. However, the upside destination would remain little unchanged.
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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Once this whole Bitgrail is behind them, we should be looking brighter anyway!
Haejin what wallet you recomend to me?
im a proud owner of nano. Its a great coin with no fees and a great team behind it. Charlie Lee (inventor of litecoin) also endorsed it today - https://twitter.com/SatoshiLite/status/968977291748417536
Only sheep follow that turd now. I was almost on board for Nano/RaiBlocks. Charlie Lee put me back a month or two now.
Kinda looks like a fake to me. CL saying send me .07 ETH and get 3 back?????wtf? Scroll down the twitter feed, that can't be real.
All those promos are scam dude. Now is so obvious cause everyone is trying to scam people like that it seems. Sadly they must be working otherwise we wouldnt see every day more and more of scammers trying it.
That's what happens when all the wealth is centralized. Their scamming because they have nothing...Crypto can change all that but until then they all want a piece of decentralized cash.
Yes, Nano (or old name Raiblocks) is a very interesting crypto! Maybe even a new generation of cryptocurrency? Could skyrocket again ...
Upvoted for being such a great supporter of the Steemit community!
Thank you for posting, es muy interesante. Big supporter. Please follow me and vote for me much.
I wish you MASSIVE profits!!
You have to like SpongeBob @Haejin
I am late to the Nano game. I did not bother to buy when it was low, but it started to sky rocket in front of my eyes. I checked out their project and it looks great and it does have potential.
Nano is a very important cryptocurrency. It is a sleeping giant, has fast transactions and fewer commissions (zero), it is also highly scalable. A highly recommended investment.
Thanks for the Nano update; might have to keep an eye on this correction
alright lets do this!
thanks for the information, this is very useful for me and maybe also for others.