QTUM Chart Pattern & Elliott Waves Point to a Potential Turning Point

haejin(85)

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#qtum

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SUMMARY

QTUM has been putting in a lower low into this correction and as shown by the blue triple combination wxyxz, it could be in the final wave down which is the blue Z. Is this guaranteed? No, because technical analysis based on probability where the analyst identifies as many possibilities from which a handful of probabilities selected to identify the primary and alternates. The below chart shows the current primary probability of price pathway into what could be the terminal end of this correction.
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Pattern and Elliott Waves often converge in agreement. Should the blue wxyxz complete, a descending symmetrical triangle would likely complete and would be confirmed by a breakout. The final Z wave subwaves show that waves 4 and 5 remain. Is this the time to panic sell? When is usually the best time to make buy entries? This is why having cash at hand is so paramount and this cash is raised during the uptrend times when price goes vertical. If one has zero cash, HODL and eat some ice cream!
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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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