Electroneum (ETN): Ascending Triangle Jives with Elliott Waves
SUMMARY
Electroneum (ETN) is showing a well defined bullish, downward pointing symmetrical triangle. It's been labeled with the subwaves of ABC (whie). Given how five blue subwaves seem to complete the C; the likelihood of a bottom increases. What's important is to see if we can see the indications of a solid trend reversal.
Here is an ascending triangle and minimum price distance measure to about $0.113 or so. From my experience, not every triangle need adhere to Elliott Waves as not every triangle looking pattern has five waves of 3s. This is why combining Chart Patterns with Elliott Waves is very helpful.
The first round of impulse is needed to indicate the start of a trend reversal. While there is a breach of the upper white line of the wedge triangle; it doesnt provide enough probability assurance of a trend change. The blue waves also jive well with the ascending triangle minimum run target of $0.113 or so.
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 shoud 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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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Is electroneum only mined on phones?
ETN is mined on computers with ccminer-cyrptonight and others.
Thanks for the information. It's indeed a vital one. Resteemed.
In my opinion etn is a pure trade and shill coin, would never invest long term in it.. pretty slow and no new tech
It's not necessarily about who has the best tech, but maybe rather who has the most efficient strategy for implementation. Who is going to get their coin to the masses first? Electroneum has a big shot at winning this race - they're already a member of GSMA and signing MOUs with major global telecom companies... keep an eye on this one. They are poised to have hundreds of millions of users in a years time. I wouldn't write it off so soon...
digiboy
Always a pleasure to see a update from you !
Much Love and thank you from Holland
Yo Haejin my man! Thanks for this! Possible for you to do an update on GCR?
Maybe u guys will like this post, it is about music and etn in a fun way ;), https://steemit.com/classical-music/@tomista/birth-of-a-new-composition-take-a-look-and-listen-part2 , take alook for a few lols. Thank you @haejin for this TA
감사합니다.
Thanks @haejin for sharing your analysis with us, Electronium is a cryptocurrency with a lot of potential.
Even this article published 5 months ago. The data shows in the picture under "C" area becomes real today. Because the price going lower and there is a resistance within the price of $0.0115 ~ $0.0117. What do you think guys, happen after this below trend? For me, it's time to buy more and hold for 2 years. ;-)
A long term hold to me has a time frame to the year 2024 or so.