Einsteinium/Bitcoin - Compelling Buy
Zaktualizowano
Traders I recommend reading this entire post so that you fully understand what I have done, and how I have came to my analysis.
EMC2/BTC looks like a compelling long opportunity. I love this set up so far!
After analyzing this pair, I discovered that price appears to be moving in patterns. Price seems to move up 5539 points, have a corrective move to the downside, and then move up again, around 5539 each time.
With this logic, I was able to predict and plot the next move on the chart. I have calculated each cycles move by measuring the amount of points it moved up before correcting. After I found there was an approximate 5539 point move before each correction, I was then able to replicate a cycle at around 5539 points to see the future direction of the instrument.
I am expecting an up move of 5539 which will complete at around 0.00012800. Below I have illustrated the calculations as to how I came to this conclusion.
The principle of the cycles being used here is that every time there is an up move, there is a corrective move, and then an up-move which exceeds the previous move by approximately 5539. With this information we can calculate (using cycles 1+2 data) where cycle 3 is likely to end up. Using the calculations below we can make a mathematical assumption as to where price will lead.
Cycle 1 = Cycle + 5539 = 0.00008100
Cycle 2 - Cycle 1 + 5539 = 0.00009100
Cycle 3 - Cycle 2 + 5539 = 0.00012800
Following these calculations, we can expect a reliable up-move, using previous trend cycles to predict a reliable, yet conservative move.
Do remember that price may correct before cycle 3 initiates. So it is important that you watch this trade carefully before considering a position. I would also like to point out that there is a key side-wards resistance level at 0.00010000. Price needs to break this level and retest this level before Cycle #3 completes.
I will be posting updates on this trade below, so leave it a like or follow so that you can keep up to date with this analysis.
EMC2/BTC looks like a compelling long opportunity. I love this set up so far!
After analyzing this pair, I discovered that price appears to be moving in patterns. Price seems to move up 5539 points, have a corrective move to the downside, and then move up again, around 5539 each time.
With this logic, I was able to predict and plot the next move on the chart. I have calculated each cycles move by measuring the amount of points it moved up before correcting. After I found there was an approximate 5539 point move before each correction, I was then able to replicate a cycle at around 5539 points to see the future direction of the instrument.
I am expecting an up move of 5539 which will complete at around 0.00012800. Below I have illustrated the calculations as to how I came to this conclusion.
The principle of the cycles being used here is that every time there is an up move, there is a corrective move, and then an up-move which exceeds the previous move by approximately 5539. With this information we can calculate (using cycles 1+2 data) where cycle 3 is likely to end up. Using the calculations below we can make a mathematical assumption as to where price will lead.
Cycle 1 = Cycle + 5539 = 0.00008100
Cycle 2 - Cycle 1 + 5539 = 0.00009100
Cycle 3 - Cycle 2 + 5539 = 0.00012800
Following these calculations, we can expect a reliable up-move, using previous trend cycles to predict a reliable, yet conservative move.
Do remember that price may correct before cycle 3 initiates. So it is important that you watch this trade carefully before considering a position. I would also like to point out that there is a key side-wards resistance level at 0.00010000. Price needs to break this level and retest this level before Cycle #3 completes.
I will be posting updates on this trade below, so leave it a like or follow so that you can keep up to date with this analysis.
Transakcja zamknięta: osiągnięto wyznaczony cel
As per the above analysis, Cycle #3 completed, and provided us with the nice move I was expecting.Price reached target level, and is now correcting to the downside. When price completes the corrective move to the downside, we must be open to the possibility of a cycle #4.
When correction completes I will post more updates below.
Uwaga
I would just like to say well done to anyone who followed this idea on EMC2/BTC. I entered at around 0.00009175 and exited the trade at 0.00019700.Price of the Crypto currency doubled in value in just 21 hours and we caught the entire move here!
I am glad you were all able to follow this trade with me. Congratulations to anyone who used this analysis to profit with me.
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