SUMMARY
Einsteinium (EMC2/BTC) has patterned out a classic Cup & Handle formation. This is the most common consolidation pattern for Altcoins because it's a combination to two patterns; a cup and a bull pennant or flag; and so allows the correctio to unfold through a very lengthy time frame. Hence, perfect for the Hurry Up & Wait scenario. The handle portion could be complete; but always be suspect of a potential lower low, even with a breakout as the time extension is always very likely.
The subwaves of the handle formation show a completed complex set of corrective waves. The MACD, though, has broken out of its symmetrical triangle pattern. Is it possible for the MACD to collapse and have price generate a lower low? Yes. However, even if a breakout results in a lower low at a later time, the pattern still shows that from a percentage perspective, the breakout could still post signfiicant gains. So, is now the time to be taking buying or selling actions for EMC2? This must be self made and I hope my analysis helps augment your due diligence!
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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