FunFair (FUN) Coin Has Potential to Generate Profits
FunFair (FUN/BTC) has placed a classic impulse of five waves up. Elliott Waves states that after five waves, there is a requisite retracement. Thus far, pattern and Waves have further developed so that the red abcde waves could signal the completion of a long correction. IF the E wave has one more lower low to put in, that would provide the needed proximity to the Apex.
The Fibonacci chart shows that the 0.78 level intersects the wave E level. Would this probably mean a bit further weakness in Bitcoin? Well, yes, since the minor correction has been ongoing. All corrections end and so shall this and it usually ends in a breakout. But first, let's finish the correction.
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?