SUMMARY
AGORAS (AGRS) is consolidating and it could potentially last a bit longer. Often, these consolidations can progress until price gets closer and closer to the apex of the triangle. The apex is the point where the two lines intersect. From the perspective of buyers and sellers, the contracting lines of the triangle make the degree of price movement less and less. Give that this current triangle is wave iv of an impulse; as price gets closer to the apex point, the agitation of the buyers become larger and larger until price explodes up. Now, this is not guaranteed by no means as Technical Analysis is not that of certainty but probability. So, if the next likely wave is (v); then price should breach the triangle in the upwards direction.
Here is the AGRS/BTC pair and it's a combination of patterns. The first is that of a downward pointing bullish symmetrical triangle. The second is that of a Cup & handle that is nearly complete. When such confluence of patterns indicate bullish moves...Elliott Waves can readily take price to 0.0009657 BTC or higher!!
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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