CIVIC (CVC): Wave 2 Likely in Progress
CIVIC (CVC) carved out a beautiful abcde wedge with all the subwaves placing very nicely as well to confirm the higher degree of trend. In pursuit of Bitcoin which is now and has been the pace setter into this correction and out; CVC breached the upper trend line and is correcting from an impulsive wave move.
While this shorter term scenario has more than one way of labeling; the abc red waves show a probable near completion of this minor correction. The blue impulse waves up esablished the breach of trend line and the current correction is taking its time.
I've placed the blue subwave 5 of C at around the 0.786 Fibonacci zone where the time and sideways action and degree of retracement would have met all the personality traits of a typical wave 2.
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Great analysis. CVC may have a support at no. 5 as shown if BTC goes down as still it plays a dominance factor for all alt-coins.
CVC may play the important role in identity platforms though Microsoft is now exploring the identity space considering blockchain. I am more betting on Vinny to make it a successful platform to see a rise in the value of Civic.
Keep up the good work. Thanks n Cheers!!!
This is great analysis and is very helpful in understanding the trends of the market!! I would love to see your portfolio over the past 6 months as the results of your great analysis.
That is one fancy, indept chart.
Very good analysis and now a days,
cryptocurrencies are highly fluctuating !
What would be a good investment as of right now?
Yesterday we saw the rapid rise of Nano gaining up to 50% (24 hours) however, today it seems to be going down again. Do you foresee a coin doing the same soon?
Whats a good long term hold?
Personally I HODL Peerplays. If their bookie dapp takes off I'll see a fantastic return. Yes, I hold it in the Peerplays chain.
A good long therm Hold besides BTC? none.
lots of competition for cvc
Man I love to read your analysis. Always so insightful. Thanks! @journeyfreedom
Civic is one of those cryptos that has been seating on sideline but have great potential for a big profit ...
Hello Haejin!
Have you looked into TheKey TKY before? Very new coin and I think fundamentally has a lot going for it. It would be interesting to see your take on it, but it’s only around a week old.
Hello Haejin's followers, I know a lot of you are new here and still trying to figure things out. I wrote a post to explain how the reputation score works. Feel free to check it out. No need to upvote, just read it so that you know. https://steemit.com/reputation/@moeknows/some-interesting-facts-about-reputation-on-steemit