SONM (SNM) Cup & Handle Pattern is Gaining Clarity
SUMMARY
SONM (SNM/BTC) is shaping out a Cup & Handle consolidation pattern which had started back in October of 2017, so yes, the pattern is quite lethargic in progress. However, the pattern seems near complete. The cup has been formed and the handle is in progress. The whole SNM chart starts with an ABC (red) correction as shown in below chart. The wxyxz triple combo labeling fits well into the scenario of an elongated handle formation.
The blue impulse waves often compose the right wall of the cup pattern. The subwaves of wave Z is always an abc (red) and likely a zigzag (5,3,5). The volume also bowls in confirmation for the rounded bottom of price.
Closeup shows the WXYXZ but the subwaves of the red C of the subwave ABC of Z. The blue impulse waves represent the subwaves of wave C in five. So, 5 of C of Z is nearly complete and IF correct; a trend reversal point could be close at hand.
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thanks for the info.
I sure hope this does shift. This coin has been taking the worst beating in my portfolio, even though it is my favorite project.
Often being contrarian is best. Buy the beaten ones.
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WARNING - WARNING - WARNING - WARNING - WARNING
This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX ENVASION!!! They are coming after him. He has been reported to them & they know where he is. If you upvote this person & contribute money to him you could be charged in the matter of the court case. It is best to UNFOLLOW this person now. Do not UPVOTE or TRANSFER any FUNDS to his account. Any money you send to this criminal can be traced back to you.
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Excellent information! Thankx
thanks for sharing.
@wpbeginner | Crypto-pro
very pertinant, I subscribe +1
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Very good post