ICONOMI (ICN) Analysis Shows a Bullish Breakout in Progress!!

in #iconomi6 years ago

SUMMARY

ICONOMI (ICN/USD) shows two consecutive runs of a descending wedge and these are labeled as Fractal #1 and #2. Note the price rise from the breakout of the first fractal. Can we expect the same from the second?

Fractals have utility in providing options for what are the next probable price pathways. Using the attributes of fractal #1's 600% price rise; extrapolating the same for the second fractal would provide an $8 target. However, given that the second fractal is about 2/3 the size of the first; making the price rise equal to the starting point of the pattern would provide a target of $5.47 or 440%.

Then adding Elliott Waves shows the corrective waves (abc red) in both fractals plus the projected future price pathway of the white impulse 1,2,3,4,5. Only in Cryptosphere can such returns be possible in such timeframes....this would never be in the Stock Market.

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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PLEASE, I KNOW YOU CAN ASK IT, REMOVE THE DOWNVOTE FROM MY POST! MY POST IS IN FAVOR OF STEEMIT AND IF I HAVE USED THE VOTE BOTS IT IS ONLY TO SHARE MY IDEA. THIS I HAD ANNOUNCED IN THE POST... SO YOUR FRIENDS HAVE DAMAGING ME WITHOUT REASON.

the post in question: https://steemit.com/ita/@stea90/start-mission-power-up-selling-my-cryptocurrencies-to-invest-in-steemit

FOR COURTESY I NEVER MADE ANYTHING AGAINST YOU, REMOVE THE DOWNVOTE FROM THIS POST. THANK YOU.

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@haejin If they are not yours they vote all your posts, so I think they are your friends, I have no way to contact them. If you can, ask to remove the downvote, I'm a small fish, they're hurting much me like that.

If you can do something, I thank you so much!

Ok thanks for the reply

I hope it does go parabolic now

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Can you do analysis for LISK as well?

Another great post!

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Great Job

ICN is a good coin for short term trades and making short profits several times a month. ;)

these things sound too complex for me. Help me lord 😭😭

What do you mean?

I am not really into crypto yet, so i thought it would be great to read this piece

But just along the line, things began to sound like rocket science here 😭

crypto now risk able trend. So hold 3-4 month. Then you will underrated crypto future for latest world.

If you are looking for a simple and practical crypto blog check me out! I'm new here, a lot of content coming soon!

i love that. i would check you up

Can you do analysis for BitcoinZ please?

This is not a bullish break out, it's bearish flag! I'm sure it will plunge to retest low and complete ABC expanding flat:

I'm just curious why in every your analysis I see the same triangle pattern:) As you are EW trader, you should no and some more :)

The expanded flat is too long in time. The symmetrical downward wedge is repeated twice. The second is at current price. The whole construct is 1,2; I,II nested count.

I combine pattern and Elliott Waves!

he (@andriustovis) was right... and you were wrong @haejin :P

Congratulations @haejin, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 47 and the total pending payments to posts in these categories was $3476.10. To see the full list of highest paid posts across all accounts categories, click here.

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