NEBLIO (NEBL): Be a Little Suspicious of the Breakout!

SUMMARY

Neblio (NEBL/BTC) couldn't be more vertical in its impulse up than shown below. Such moves are NEVER sustainable and only blind greed allows one to slip into such false belief. Post the extended 5th wave, the correction thus far has placed abcde waves. The resulting breakout need to be viewed with a degree of suspicion.

Subwaves confirm the abcde markings and the breakout thus far doesn't yet represent an impulse wave upwards. Since the earliest indicator of a trend reversal is a full motive of impulse; that has not yet occurred.

More specifically, what I mean is shown in the below chart. While the breakout looks quite genuine thus far; the correction could lean towards the blue wxyxz pathway. No need to rush.

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.

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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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