SUMMARY
Fractals play a significant role in my analysis of Cryptos. They are not the sole source of analysis; but do contribute towards the probable price pathway selection. Just like anything, it takes a bit of practice to be able see and spot patterns that are similar but not exact. Earlier they are spottted and followed, the more effective.
Take a look at the below blue and white box of STEEM price chart. Do you see how the blue price pattern has already started to repeat? Take a look at the symmetrical triangle pattern in the blue box; it's being repeated in the white botx. Now, follow the price pathway in the blue box, a near vertical surge followed.
This surge generated a 113% price gain. The white box has extrapolated the remaining price pathway of the blue box and the white arrow shows the potential, fractal driven, price surge. IF this is correct and IF another 113% price surge is experienced; that would target $5.48. This is not necessarily a target to trade on or aim; but rather as an upside likelihood guide.
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
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Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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