SUMMARY
This coin has broken out of a very LARGE Cup & Handle pattern. The bullishness of this move could lead to impressive profits. The handle formation counts as an abcde and price has decisively breached the upper white line of the triangle. It is imperative that price stays above this line and not re-enter the triangle.
The 60 minute chart provides greater detail of the subwaves. The abcde of the handle triangle completed and as shown by the blue Elliott Waves, price exploded out and has thus far stayed out of the traingle. This is bullish because it means that there are no more sellers. The white Elliott Waves show an impulse in the making. Waves 1 and 2 seem complete and that means 3,4,5 are awaiting. This first impulse would be the second round of impulses and so a higher high would signal the bottom being in and the start of a trend reversal.
Legal Disclaimer: 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.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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