REDDCOIN (RDD) Analysis: Elliott Wave & Chart Pattern
RDD completed a very nice wave motive 1,2,3,4,5 with a completiong of the requisite abc (red) correction. I've labeled a probable Elliot Waves i,ii,iii,iv and v. In combining the pattern, I'm discerning a potential for a cup and handle bullish formation. If this is correct, then higher highs are due for RDD.
The caveat to this bullish scenario is to keep a close eye on the Bitcoin Bear potential. It can ruin the bullish run for RDD as the Bitcoin moon moves the tides.
Here is a didactic description of the cup and handle formation:
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_continuation
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: 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.
Hi Haejin, thank you very much for this TA. Much appreciated.
Haejin can you do an update for iota .
Here is the IOTA update, please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/iota-update-a-sea-of-three-waves
Im in this one, to the moon. Ty
Keep an eye on the Bitcoin Bear potential....use caution.
Yes, ty.
Now thats going to take some time and can be invaldated by alot of other things. Also we just had what I call a China swan (Black swan event).
Nice article. Interesting to see I'm not the only one that is thinking about this. The crypto space brings the biggest group of uneducated investors with it. This group will only grow. I was researching a way to find more info about the current cryptocoins on the market. Do you know this interesting site? https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Check for example: https://www.coincheckup.com/coins/Reddcoin#analysis For a complete Reddcoin Report.