SUMMARY
A few weeks after when Bitshares (BTS) was delisted by Bittrex, my blog had analyzed and recommended a ladder cast buy at $0.045. Many had criticized the bullish call saying BTS was a shitcoin and feared maybe even Poloniex might delist it as well. It's almost always in the midst of great fear when such buying opportunities arise.
The below chart shows BTS making a lower low. The retrace has passed through 0.78 Fibonacci zone. The square root of 0.78 is 0.88 and that level is currently at $0.128 and the horizontal line shows that there is horizontal support at that level as well. Similar to back in October 2017, fear sentiment towards BTS is again elevated. Is this the ideal time to be taking Buying or Selling actions?
A closeup chart shows an updated label of the correction. The yellow WXYXZ triple three label each has abc subwaves as shown. IF price is working on the Z wave, its red abc sublabels show that a,b are likely placed and c is in progress and the 0.88 Fibonacci target is the next likely stop point.
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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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
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Essay: Is Technical Analysis a Quantum Event?
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