CANNABIS COIN (CANN) prediction using EWT
As a recent student of elliott wave theory and technical analysis, it is always exciting to stumble upon coins which look like they have potential. I came across CANN yesterday browsing through altcoins on bittrex.
ABC correction (5-3-5) with a beautiful downwards pointing triangle. This could drop prices between 0.00001000 - 0.000000900 when looking at Fibonacci retracement. After this the upper trend line may be broken and there could be vertical price movement!
This is not a post to recommend investment in this coin. The analysis is my personal opinion and i do not suggest you follow it blindly! Rather, if you see any issues with the count or analysis please feel free to critique it in the comments, i am always looking to learn and improve :)
Have an awesome week legends!
**EDIT
It would appear the breakout has begun! Although there is not solid conformation and the price may well be pushed back down below the top trend line. I have recently found out not all triangles complete (only about 60%) and this may well be an example should prices continue to rise :)
Great analysis - I really appreciate the advice, Keep up the great work you legend!
Great analysis. I'm a student of EW too! Would love to discuss coin analysis with you.
@benkalashnikov - of course it would be a pleasure! How long have you been analysing for? I just checked out a few posts on your blog and they look wonderfully thorough!
Does look like a good setup