IOS Token (IOST): Cup & Handle Formation in Progress
SUMMARY
IOS Token (IOST) has not much price history but already, it's pattern can be discerned to likely trace out a bullish Cup & Handle pattern. Quite often, new tokens undergo this pattern as it allows the pump and dump to be cleansed out. Unfortunately, many bag holders are generated. These pump and dumps start the token genesis as a correction from the onset.
For most ICOs, it might be better for the pump and dump to complete and then buy at the lows. The blue lines outline a downward bullish symmetrical triangle which also become embedded into the Cup & Handle. The red ABC show that the correction was deep. However, when is the best time to buy? For me, it's always at the terminal end of an abc correction. We're pretty much there and ladder entry looks attractive.
The impulse waves are projected to follow the contour of the Cup's right side. As wave 5 completes, the handle formation would commence and in this case, it would likely coincide with wave 2 as abc. When the handle is wave 2; the retrace is often 50% to 61.8%; yet another good entry point; that being the terminal endpoinf of an abc correction at a lower degree of trend.
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up vote and resteem..
Thanks once again Haejin. Big learning curve for me at the moment. Funny thing is I am enjoying it amongst all this carnage. There are so many opportunities. Bit like a kid in a candy shop. Trick is picking the right ones.
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Trick is not only pick right ones but also know when to drop them or stick. I also do many airdrops to get free tokens and hope that someday few might actually be worth some money! If you wanna do some airdrops yourself check my blog and good luck with your picks :)
Thanks @haejin
you can find more information of the start of the token on https://www.huobi.pro
thats where the coin launched
if you can do an update with the cars given you can see another pattern other then a cup and handle i think
Read more here how to become Cardano billionaire :)
IOS very good cryptomoneda, @haejin thank you for sharing your analyzes
This was the case with electroneum coin. So many wrote them off by dumping which they now regret because electroneum is gradually becoming a force to be reckoned with looking at the technology they are trying to implement like mobile mining which will be one of its kind in the history of crytocurrency.
Interesting analysis - I will watch to see if this pattern plays out as you say it will...
Thank You!