SUMMARY
After rising five waves, RChain (RHOC) is doing a mid-flight consolidation as shown in the below chart. These are a bit uncommon for cryptos but then again, every coin has its own unique "personality". There will be minor corrections but in a 3 step forward and 1 step back sequence, RChain should log a very profitable Spring.
The MACD has broken out of its contracting lines (white circle). Price should proceed in an impulse manner as shown by the blue waves. The breakout of the MACD is significant as it could mark the onset of a trend reversal.
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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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Thoughts on Rchain vs EOS fundamentals and scalability?
one time I thought I had aids, but it just turned out to be bad gas
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Well Explained.. Appreciated
Thanks for the information, thanks to you you can quickly find the right flight in any direction.
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