21 Million (21M/BTC): Time to Take Nibbles!!steemCreated with Sketch.

in #bitcoin6 years ago

SUMMARY

Here is 21 Million (21M), an Indy Media Production company token. First, it's thinly traded and so taking on a massive position would make no sense. Thinly traded coins have lower liquidity and thus makes it very difficult to enter and exit whale sized positions. Such actions are what at times cause price to spike up or flash crash. So, if considering to enter a position into 21M; perhaps small nibbles might make sense.

The below chart shows that 21M/BTC completed a common, downward pointing symmetrical triangle. It broke out in an explosion which had to be consolidated through a Cup & Handle which it is currently processing. The handle formation is nearly complete. To me, such represents an attractive buy entry. Since two patterns are coupled to this; the likely bullish scenario looks that much more robust.

Here is the price projection for 21M/BTC. A combined effect of two bullish patterns allow for a sustained run up. To this end, the Elliott Waves show a target of 79,844 Satoshi. Bear in mind, that there are two ways a /BTC pair can run. First, as BTC rises, the rate of demand for the altcoin must exceed the rate of rise for /BTC. The second is when BTC declines, this would raise just about every /BTC pair.

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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf


Legal Disclaimer: 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.

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It should be interesting to see how BTC performs in the new year, especially with all of the setbacks it's been dealt.

Thanks Haejin!

Are you going to ignore the drama bernie is trying to incite?
Wish you the best of luck

another great one. Thank you so much!

nibble nibble

Thank you as usual!

Many of the smaller alt coins have very poor liquidity, making it difficult to buy and sell at stated prices.

Have you had a look at LIFECOIN? Looks interesting but again, very low liquidity!

I took a bag of Life, I have the impression that there is a project behind it, so good probability for me that trading volumes will increase soon.

Agreed. Seems to be a decent project with use case and roadmap etc. Should pick up with publicity!

Could you please analyse Gulden (NLG)?

Nice analysis. Low volume plays always make me a little nervous but there is no doubt that you can make massive returns if the coins pump or get listed on popular exchanges.

Where can you buy 21M?

If anybody interested then they can check this out here.

Website:- https://www.21million.co.uk/

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