BANCOR (BNT): Cup & Handle Complete & Confirmed!!

SUMMARY

Bancor (BNT) has completed and confirmed the Cup & Handle pattern.While this pattern can take a good while to complete, it is able to sustain a sizable uptrend. Bancor price has clearly breached the upper line of the handle formation and this is laregly indicates the start of a trend reversal from down to up. Elliott Waves states that upon finish of the full motive, the original trend resumes and in the case of Bancor, that’s up.

The detailed view shows an abc three wave for the handle composition. Deep as the retrace might have been, the price breakout signals a new trend could be formed. I’ve included the impulse waves that‘s expected to provide the first full set of impuse five waves. Of course much will depend on how Bitcoin moves the next few days to weeks.

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 shoud 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.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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