AdzCoin (ADZ): Wedge Pattern Requires an Incremental Lower Low

in #adzcoin3 years ago


AdzCoin (ADZ) placed a five wave run with the 5th wave a bit extended which also ended in a flameout of buyers. The resulting correction has been in a the form of a downward wedge and thus far retraced to the 0.88 Fibonacci level.

The key is not to jump the gun and assume the correction to be fully complete at the breakout of price from the wedge. Altcoins never correct so fast with such brevity. Instead, the correction drags on through sideways action that best fits a complex correction. Of the abcde waves, the wedge is complete with abc while d and e will require an incremental lower low.

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very nice post about blockchain...

It would be interesting if someone knows a good tutorial to begin in this wonderful world about the technical analysis. Even if Haejin, or other steemian has a course where I can learn at least the basic about fibonacci and its application in the cryptoeconomy.

Open your eyes, Tutorials are just above the Upvote and follow banner!