SALT is Liquidity Immature Which Requires Lengthy Consolidations

in bitcoin •  3 months ago

SUMMARY

The reason why Altcoins prefer the Cup & Handle, Wedges and Broadening patterns for their corrective paths is because of their inherent syndrome to be as lethargic as possible in the corrections. This is the condition of the liquidity immature Cryptos. They don't have the rate of churn to process the prior vertical move which went vertical because there was not enough liquidity. Now, when a financial instrument does acquire the higher liquidity level; the process is inverse in that price climbs much more slowly while corrections are very quick. You often see this in the equities where indexes could take years to acquire 200% in gains but nearly 50% could be wiped out very quickly on a downward correction. Case in point the 2008 Financial Crisis.

For SALT/USD; the vertical move ups and very slow, lengthy corrections are likely to repeat into the current correction given that its network effect is yet minimal. Take for example the below chart showing the blue, rounded bottom formation. The left side of the pattern had a vertical move that required the lengthy consolidation phase. The current white correction could require another round of bowl pattern that could take until April/May time frame.

If the blue fractal's impulse can be a guide, the white fractal shows projected impulse waves that could complete the right side of the cup pattern. Therefore, for Altcoins that are immature in liquidity, there is ample time to incrementally accumulate through effective laddering in preparation for the next vertical round.

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?

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Your friends: done, bcc and btu COMPLETELY Flagged and NUKED an offer of PEACE by a minnow today!!!!!

https://steemit.com/haejin/@em3/haejin-can-end-this-and-still-be-rich

Can you please go to the Post, upvote it and at least give a response: "no, thank you" or whatever!

Show Steemit that you are not for CENSORING... Do the right thing.

UNDO the CENSORING that the accounts DONE, BCC and BTU did! A few of your supporters say you HATE censoring. Prove them right.

$20-$25 was deleted from the Post. A 50% upvote will make this right.

Some day there will be a Tezos analysis. That will be a good day.

I have been watching Salt for some time. I have a little and have been waiting to get more at the right time. Thank you for this informative post.

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the token has little to no use if you look closely. I had some and I sold it.

That graph looks like a butt. lol

Thanks Haejin for the analysis of SALT. I would be interested in analysis on
LEND and Verge if possible. Thanks

Nice post. Quite informative and very useful. Thanks for sharing @haejin
Great Job ✌

Very good post

Did you just show us open buttocks? How rude.

It has some characteristics of falling wedge, it would be one to watch in the upcoming altcoin season..... I have been following your post, some of your analysis are on point, others are way off but charting at times is a 50/50 game, probably you should include proper risk management as part of your analysis.... You should also probably considering donating some of your earnings and probably encourage other technical traders on the platform....
Overall your work is quite good, I hope things can settle out for you, keep up the good work

SALT in the wound!

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