Reddcoin (RDD) is Displaying an Extended 5th Wave
SUMMARY
The personality trait of Cryptos is more similar to commodities than equities in that the extended 5th is so common. For commodities, this occurs because of leverage; but for Cryptos, I believe it occurs because of immaturity in liquidity or immature Metcalfe's law. However you want to put, if leverage is to be added through expansion of CME futures to Altcoins, the prevalence of extended 5ths will become much higher.
The below chart shows that Reddcoin (RDD) has a very extended 5th which becomes a warning for a deep retracement. Quite often, the correction goes as deep as the prior wave 2.
The bottom horizontal line shows the price level of the prior wave 2 and given how extended the 5th wave was, this could be the correction bottom target or at least a point between wave 4 and 2. The time extension also needs to be taken into account because extended 5th also means a longer than expected time to correct. To this end, the blue and the white arrows carve out what could be a multimonth price rounding formation. In effect, this correction has a potential of lower low and longer time extension.
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.
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人生从不缺重头再来点勇气
i learned from shiba to keep calm and hodl ,our time will come :)
RDD wil never launch, it's a scam
hope it will not get low before rebounce, I hope to bottom is now!
It's not:(
Their bottom is exactly at $ 0,0000000000000
gracias por compartir ,lo estoy pensando
Next time, I'm definitely taking profits...until then, I'm HODLing...in at 33 satoshi on this great project!
What is so great about this project?
Copy/Paste from their site:
Recent Posts
They already are around from 6 september 2014 and haven't delivered anything.
Again: "This is the upmost fucked up shitcoin that does make the cryptocommunity only look bad"
@winnieoriana it is not a shitcoin...no such thing...it will go to at least 1000 satoshi...stop trolling...
https://steemit.com/life/@edisuryady/dangers-of-cat-fur-for-humans-968d6b21d71ff
Hi dont know how long I can still hodl?
Depends where you bought :) It will plunge more, so it's up to you:
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I didn’t buy enough to worry
Every single coin you did buy is one to much
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I'm thinking about selling off now and re-entering back later.
Sell every RDD you have and leave it for others for the rest of RDD's life!