I came across this great article EBTC - The Coolest New Kid On The Blokz? where @janusface asked if someone could do an EW analysis of EBTC.
As I got a few eBitcoins myself I'll give it a shot here.
Daily chart reveal a young trading pair, price starting low so it is not a typical ICO free fall start. The waves are rough and price can exceed well this wave target.
Going to 1 hour chart we can count some subwaves confirming the mayor Elliot Wave. I can count the waves prior to here at least 3 different ways coming up with a fifth subwave at the peak, so I expect blue wave 3 to be done.
The red labelled correction forms a bearish wedge shape, leading me to think this correction could take some time. Volume however decreasing rapid enough to make me unsure. I expect price to bounce on the 5. red, going for the blue wave 5. If it breaks I got an alternate ABC correction.
Here I have removed the wedge correction and labelled up the alternate ABC correction indicating a lower low to come in the blue wave 4.
EBTC is clearly on a bullish path all over, and the Blue wave 5 is still to come. It could far exceed the set target here.
If you have another view on this your welcome to discuss and post your charts in the comments.
Comments are highly appreciated, and if you profit from this chart, or enjoy my post, please upvote, resteem and follow!
I have learned this profitable EW charting by @haejin btw!
These charts are done at Hitbtc exchange
If you feel like buying me a beer:
ETH: 0x478c06b33f2b03892dcbb03cd353defba356bc26
LTC: LQ3Jc2bq46Dc8FBkdDoDKtAtYp6mNdLDSa
BTC: 1NXnrq9WcF2BoL2dwAgNg85MZ2qiwN5e1j
BCH: 1GTzQYiTn2EqNt3YVp9LoCbzVvouHiHJAD