Bancor (BNT) Technical Analysis Shows a Breakout is the Next Likely Step
The Cup & Handle pattern is the most common pattern specy for Altcoins. It is also one of the longest to form and complete. The below chart shows Bancor (BNT) having completed the rounded price formation and now is also nearly complete on the handle pattern which is a downward wedge.
The subwaves are filled in and the ABC shows that the five waves of C are nearly complete. Only wave 5 remains and it seems to be almost done. Price is quite proximal to the apex as well. While a breakout could always morph into more sideways price activity; a breakout is in the works.
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.
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?