EOS: Variations on the Same Theme of Up!

in eos •  25 days ago

SUMMARY

Note: For anyone who missed the BitcoinLive Information Webinar, here is the replay link: https://www.youtube.com/watch?v=32l40SNYOp4

As of June 4, ALL Crypto Analysis will be posted on the BitcoinLive channel and Steemit will be dedicated for Equity, Commodity and Options Analysis. To Signup for the BitcoinLive limited Founding Membership slots, use this link: https://get.bitcoin.live/haejin/

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I have been bullish on EOS since it was $0.35 and am ever more bullish now! Be Long Term Greedy on this baby! I wouldn't be surprised to see $300 or higher not too long from now. These are not crazy projections and the nearer $50 target can also be attained likely this year. The below chart shows the broadening pattern. Price had impulsed up from the blue (d) bottom. As labeled, the five wave sequence topped and the requisite correction is in progress (red abc). I believe this minor correction is at or near its terminal end and price should turn up to resume the reversal.

From a pattern perspective, a bullish Cup & Handle can be drawn as shown in blue in the below chart. The red abc correction are the subwaves of the handle formation and as long as it stays above the lowest part of the Cup, the pattern remains valid. Patience and discipline will attract profits!

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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EOS = Earth's operating system or EOS = Ethereum on Steroids. Larimer is a brilliant guy. BTS 3.0 will be awesome as well :)

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Easily Orbiting Saturn

这是什么情况,要飞了吗。

wow i'm interested now :)

I remember when Haejin was predicting 300 USD BTS. I think that might turn to be EOS :)

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Maybe Bitshares 3.0 (bench) will propel the Bitshares token to $300 - id be happy if it got to $10

Eos my best coin Thank you

Thankyou Haejin, could we get an XVG update too? Thankyou!

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ps I signed up for btclive :) can't wait

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What is the deal with the upcoming Bitshares hardfork? Any info/links?

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Is there a Bitshares hardfork or do you mean Bench which will be entirely new blockchain ?

this has changed my former idea... very very nice.

Hy jin ka vote

Hi Haegin, could you do Ven and Waves.

can you please share updated projection for SNT (Status)
Many Thanks!

Be Long Term Greedy on this baby! :)
We just uploaded a new BTC Technical Analysts Daily Summary. Go check it out and give us a vote please.

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Ripple CEO Brad Garlinghouse argued bitcoin, the flagship cryptocurrency, could soon stop influence the price of other cryptocurrencies.
This, as he sees the market highlight the differences various cryptocurrencies have.

For a period of time now, the prices of cryptocurrencies have been highly influenced by bitcoin – the first and most famous cryptocurrency among thousands. According to Ripple CEO Brad Garlinghouse, this influence may soon come to an end as crypto markets begin to understand the differences between different digital assets.

On CNBC’s “Power Lunch,” Garlinghouse stated:

"There's a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies… It's early, over time you'll see a more rational market and behaviors that reflect that."

Brad Garlinghouse
It should be noted that San Francisco-based Ripple is a company that developed a network for faster global financial payments and the XRP token, which financial institutions on Ripple’s network can use to transact quickly.

Garlinghouse stated that Ripple had signed 20 production contracts with new firms in the first quarter. These included the largest bank in Kuwait and MoneyGram. Despite the company’s performance, during said time period its XRP token lost over 80% of its value, making it the worst performing coin among top cryptocurrencies. According to CoinMarketCap data, bitcoin lost over 50% of its value during the first quarter, and the entire cryptocurrency market dropped with it.

Garlinghouse added that “this is "still a nascent industry,” in which speculation dominates trading. Per his words, it’s a matter of time until people “better understand the different use cases." The chief executive officer predicted that about 99 percent of the over 1,500 cryptocurrencies in circulation won’t exist in 10 years as “there’s gonna be a bit of a correction along the way.” This correction, per Garlinghouse, is going to wash out “players in the space that don’t actually solve a real problem.”

The CEO added that while some cryptocurrencies do not have a proven use case, they have been accused of conning investors through initial coin offerings (ICOs). He said:

"The SEC is getting involved as they should because there have been frauds committed. We have been an advocate of yes the government should get involved, the government should be protecting investors and companies but there's also examples of real utility.”

Brad Garlinghouse
Garlinghouse made it clear that: "If you own XRP, you don't own rights to the profits or any dividends to the company, [because] XRP has real utility."