Monetha (MTH) Analysis Shows That Correction is Nearly Complete, If Not Already
SUMMARY
When a Technical Analyst sees a chart like the one below of Monetha (MTH/BTC); excitement arises. Why? Pattern and Count are displaying that MTH is nearing the terminal end of a correction and that is usually the best time to buy. My buy entries are made using laddered rungs where local suppport & resistance areas are used to identify a scaled entry program. The below chart shows an impulse five wave round completed and the red ABC is likely also complete given that the subwaves for C show 1,2,3,4,5. Price is also quite proximal to the Apex; making it very ripe and near to a breakout.
The projected breakout could look like the below chart where the blue waves show a target towards 2,979 Satoshi. Now, is this guaranteed? In a word, no. Such guarantees don't exist and profitable trading is based on calculated risk to reward assessments. As an analysts, the below represents an ideal ladder entry zone.
The overarching pattern is likely a Cup & Handle as shown. The handle is retraced nearly 0.618 Fib level and is so close to the apex, it's almost unstable.
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
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(Original poster @thabiggdogg)
Come on guys! Share your favourite Haejin memes! (or truths as they should be called) :)
Edit: @Haejin sent me one of his yet to be released charts, I feel so privileged right now take a look guys!
It is rare that I look at a comment above mine on a haejin post and don't reply with my spam comment...
You don't get spam, you get my worthless upvote instead :P
HAHA that's pretty funny
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Everyone go look at my firecoin projections here
Increase from $1.76 to $2.27
It seems a good support and good level to add position!!
Don't hurry, read my other comment first
Wait until it breaks the low (purple line)!
If you want to see correct view in the chart MUST use USD ($), not BTC or any other crypto!
I do not really understand your analysis, but you should end a great analysis with a little hint ..
When somebody is posting because of posting it happens like that:)
Thanks for sbd..
This was adressed not to you:) it was for this post creator:)
Thanks for the info @haejin
Thanks
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haejin very" simply chartist
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