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RE: STEEM Update: Any Change? When will it go up?
Good post. Could explain a bit more what you see and what that likely means.
Good post. Could explain a bit more what you see and what that likely means.
The cup and handle formation is bullish but takes time to finish. The handle pattern is finishing and I'm using Elliot Wave analysis to count the corrective abc (red) price movements. Once the three wave abc corrective retrace is complete, an impulsive surge up in price is expected and when this happen, I will update with the additional wave labels.
And the cup is the long support level? Is there some inverse to the spike and cup support ? I see many charts lately that have this beginning trend.
This site can perhaps help explain. http://www.investopedia.com/terms/c/cupandhandle.asp
I used this site when I was investing in stocks. They killed me. Cryptos seem different.
I meant only to use for information purpose. Learning TA for self analysis is best journey and painful too, but once adept, profitable.
Thank you much! So the trailing abc pattern happining twice can signal a good buy signal with uptrend likely?
You'll want to see prices start rising and break out of the handle channel. But yes, a second abc on an uptrend is a good confirm.