Crypto Of The Day: Synereo
Synereo has just broken up from a two-hour triangle.
(Chart courtesy of Tradingview.com)
In the four-hour chart, I believe we have ended the second wave (Elliott Wave) and the third wave is now starting.
(Chart courtesy of Tradingview.com)
Looking at the daily chart, I believe Synereo is currently starting the sub-wave iii of a larger scale third wave.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Synereo.
maarnio upvoted and followed also When does Synereo launch and what is the 1.61 target on a wave 3 up on amp
The alpha was demoed live for the first time in a conference in Vancouver, on the 9th of September. They have a fundraising starting September 19:
https://blog.synereo.com/2016/08/29/synereos-second-fundraising-campaign-coming/
The 1.61 extension of waves 1 to 2 in the four-hour chart leads to 0.00069.
I am a newbie to this, but could you give some context to this 1.61? Is it some type of multiple or price target? What do you think, worst case, will happen to the price over the next couple of days and long term.
Wave three often extends wave one by a ratio of 1.618:1.
https://en.wikipedia.org/wiki/Elliott_wave_principle
Worst case is always 0, but I don't think we will get below 0.00024.