SUMMARY
Walton Coin (WTC) placed a full set of impulse waves 1,2,3,4,5 before correcting into an a,b,c correction. Price is expected to rise a bit further and correct. That correction should coincide with the handle portion of the Cup & Handle and the retrace is expected to be 50% or so. It would be key to count the subwaves of this correction to understand the proximity of the bottom.
The Elliott Wave projection is shown to target 0.0055 BTC and wave 3 is targeted for 0.00476 BTC. Note how the wave 2 can coincide with the handle formation and the retrace could be as much as 50%.
Here is the WTC/ETH and a bullish downward pointing flag pattern is identified. A breakout above the upper line of the flag can also be identified and it could spark a rally. The volume too should also dramatically increase the volume.
Elliott Waves can project the Fibonacci based movement of price and the target is 0.0402 ETH.
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 Disclaimer: 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.
The chart looks good. Hope it pans out.
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Very nice! thanks for the recommendation!
Thank's for sharing this content. Always support the comunity. Best regards my friend!.
My nephew has the same name as yours. His father named his son Kal-el from Super man.
I always thought what a wierd name any father could give to their son.. now I see he was not
the only one. Anyway good luck.
Jajajaja. Is not my name, is my nickname!. Best regards!.
Long time follower of Mr @haejin. Wonderful work educating and sharing knowledge, and I have grown much in my understanding of charting thanks to you!
@haejin and community, I wonder if the cup and handle pattern still holds, with the breakout recently? I offer the below, hope for comments to see if I have understood correctly.
Given the quick reversal from that spike up - I have to side with a possible retest of the downward (green) channel that it broke out of.
There may even be a slight overthrow beneath the green line. Once that holds - it should reverse back up.
I do admit the speed at which it reversed from the highs is much quicker than I expected. Also seems the move up won't happen til February as best guess.
You must have made ppl some good money to have such a cult like following..kinda impressive
Oh its basically free money to a trader..too easy it cant last
first again!!!
What do you think of the EOS? Very similar to Ethereum. Is it a threat to Ethereum? @haejin
Very nice!! Could you update graphs for $zrx, it's been crazy at this supply!! Thanks boss!!
Amazing Content seem 100% Original writing .Thanks for sharing valuable statics on WALTON (WTC) coin ALT coin . i hope we help each other regular @haejin
A very useful post. posting like this is what I need. Good job. @haejin👍👍👍
Thanks!
@haejin how do you calculate the minimum target for a cup&handle pattern?
Appreciate it, thanks!
Agree, I will try to buy more walton when it dips a little bit. this is a very nice project, their RFID chips are just awesome and already capable of operations.
thanks for this post ... very useful !
Too late, the gains have already come on this run, this should have been posted over a week ago when it was under $15. I dont think well see a handle form.
Thank you for your nice posts!!! Your posts are very cool~
WTC went 111% today and then retraced sone if it back.
There are significant unanswered questionson Waltonchain, too early for me to get in on it, though Im bullish on SupplyChain and crypto in general.