EOS is Showing a BULLISH Cup & Handle Pattern!! New Target $2.58..Check Out

in #bitcoin4 years ago

SUMMARY

Take a look at this chart! The Cup & Handle pattern is uncanny. The cup can actually be subdivided into two smaller rounded bottoms. The handle is formed and complete as marked by the blue lines. The white impulse waves i,ii,iii,iv,v projects a target of $2.58 not too long from now.

Bear in mind that sentiment drives prices, not news. The commonality of these Cup & Handle patterns is a reflection of the uniformity of sentiment across crpytosphere. It's very BULLISH and we are now seeing the Altcoins get their starring roles on the stage.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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Legal Mumbo Jumbo: 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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haejin I looked at all your crypto analysis since you joined Steemit. I am probably not 100% accurate. Hopefully at least 75% accurate. Anyway I tried. It's Excel fault if I am not right. :) You seemed to have covered about 100 different cryptos. I tried to count how many times you did analysis on each one. The results are below are the top 25. I guess these are your favorite TOP 25 since you have been on Steemit to today November 9, 2017. Is this a generally accurate view of your favorites? OR do you have any favorites at all? Can there really be favorites in trading? Or is it feeling good about the successful trades and trying harder to understand the ones that did not work out?

I think BTS is his favorite. :)

BTS seems to be a solid bet for the future. Along with EOS and Steem.

I am buying more on a dip coming.

EOSEOSEOS

Thanks for the update , it's time for me to accumulate some more EOS methinks.

I thought EOS put out an announcement they have hundreds of apps being built and ready to be deployed come June, when the platform is released. Anything less than $10 come June would be crazy to think. This is a bagger at $1.

The same Cup & Handle Pattern for Bitshares!

EOS 30 min: possible wave 2 $1.00 before blast off.

Agreed. I think BTC correction will cause a deep wave 2. Time to buy some alt coins in wave 2.

Well done! Can you forward discern an inverted Head & Shoulders pattern? Combining chart patterns with EW is very important.

Update; seems to be going to plan any thoughts @haejin?

Sorry I didn't see this, but just below. Perfectly to plan! :D

Got some when you predicted this when it was around $.55. Sold with %100 gain and got back in again after your last EOS post. Holding it until we get wave (v). Again great job!

Thanks for your MASSIVE support Haejin!

Thanks. Btw, received the book yesterday (cost only $10 including shipping from Amazon- Elliott Wave Principle) and started to read it. Next to get "Technical Analysis of Stock Trends" book.

THANK YOU !!!!!

I have to disagree. News drive the price also (for example canceling segwit). Money reflowed from bitcoin to alts after that event. Bitcoin was highly volatile for couple of hours.

EOS will replace Ethereum and Neo in 2018, so when you break it down like that, I could easily see the short-term price in 2018 being $30.00 a token, which will directly reflect the amount of value that Ethereum is currently holding in overall market capitalization... what say you @haejin?

I'm thinking $5 maybe $10 at a push by the time it goes live...after that the sky is the limit. $30 translates to around 30 billion market cap, which is where ETH is sitting now. It's not beyond the bounds of possibility by the back end of 2018 imo. I'm hoping for 100 billion cap in 3-5 years.

I think EOS will be $10 by the end of next summer and eventually it will be a top 10 coin or perhaps top 3-5 coin.

Easily, and in my opinion, it will take the helm in the number 2 spot for sure.

I say number 1 ... Bitcoin being the base of the inverted EOS triangle. So one day it could be up to 100x Bitcoin...

I was just referring to 2018.

By 2020 what you are telling could happen to the market cap. EOS makes things like lightning and Raiden look like a joke taken too far. True scaling is on chain. Too scaling is smart and simple. Bitshares, Dash and PIVX already have below 2 second transactions on chain at the protocol level and some idiots waste their time on off chain garbage that's not even out yet. It's obvious who's going to be winners.

Too true indeed @vimukthi, if a coin or token could run such high transaction speeds organically on their own network, why choose anything else?

its going to be funny how all this unfolds

Not sure about replacing NEO...but EOS will provide what other coins can't. If Bitshares moves onto EOS, it'll be BEOS!

Neo doesn't have anything so far, except some tokenized forum, so I don't have much faith in it, plus it's run by a communist country, which picks and chooses which platforms can and cannot go on it.

I used to choose crypto investments based on their emotional attachment to me, and I made every mistake. Now I just draw some lines and build some ladders.

You just explained the major obstacle against NEO. It could easily grow another 20 times even if it was China's bitch. But free market and commies don't mix well. Chinese ICOs will use NEO. But I have reservations about supporting commie products.

BTW McAfee is holding an ICO in China https://www.mcafeecoin.com/ and the whole thing is giving me tons of red flags. I mean this guy is about to east his dick on live television in accordance to his bet.

Ha ha, I hear that, and not a penny of my money goes into any Chinese projects.

Like it or not, China will take over as the world's superpower, they have been several times in history. Not sure where you are from but in the US, there is only an illusion of democracy.

USSA is shooting itself in the foot turing into a faux capitalist state while China grow to become a faux communist state. China has some major advantages over US.

The one party rule takes away all the petty struggles and they can seriously focus on the long term instead of just 4 years. Not much of need to worry about public opinion allows the country to take risks and be rigid.

Then there is the lack of diversity and SJW garbage. I haven't lived in China but they don't seem like emasculated pussies and dumb bitches to me. The west has brought identity politics into business. A buisness should have ZERO concerns about most things that are inherent to western companies like the ones in silicon valley.

China's vision is extremely flawed. But at least they have one. China won't be the global superpower on its merits. China will merely achieve its position based on the sins it didn't commit.

Just look at the tone of this movie which is the highest grossing movie in China. You'll see their cultural memetics are much superior to SJWed mediocrity of Hollywood.

Half the Americans hate America But most of the Chinese love their country. They at least have a focus and a roadmap though it's not a very good one. But there are other countries like Singapore that are doing very well. China will become the global superpower but it wouldn't grow enough to be as massive as USSA at its height.

As for my country, democracy is kind of there. You can still make positive change with it. Corruption is there. But everybody looks at government and politicians as untrustworthy crooks. Democracy runs on marketing money and stupid people's vote. In my country this is considered common sense. Government isn't the good guy in people's eyes. I think my country would be ok. It won't be like Singapore or Estonia or something. But it'll be fine. Most people don't even know what feminism is and SJWs and commie supporters are less than 5% of the population.

NEO will be China's Ethereum. They have been working w Chinese govt since day one. GAS tokens are even more valuable then NEO as they are reusable, finite and will take 22 years to mine the remaining 88 million tokens. China won't let outsiders like Google, eBay, Amazon or Facebook into China, they have their own version of each, this is where NEO comes in.

NEO has a gas fee model similar to Ethereum. Not good for mass adoption in my opinion. EOS has no tx fees. You can run on a Facebook or Youtube type application on it.

That was exactly my way of thinking about it as well, once I ran the numbers.

Twenty years ago, I thought so too. After that many years of Technical Analysis, learning from every failure possible, I've learned that Sentiment precedes any news or event. Yes, from a Newtonian perspective of cause and effect, it seems inviolatable.

I wrote an essay on this topic, perhaps you might find it interesting.

https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event

Interesting article, I was checking your Groestle coin analysis and when the price came down to lowest point that you predict it started to rise due to segwit2x cancellation! and I hope the rest of the analysis come true too :))

I wish you MASSIVE profits!

I have read your essay before. I have also read some popuar science books about quantum phisics and I wrote a thesis about fractals from a graphic point of view, so I have some background. I am trying to say that if sentiment precedes any news or event then without news or event it is asleep and it waits for the news to triger him. If you look at the bitcoin chart (last week) then you see someting not natural happened yesterday. I would compare canceling segwit to throwing a stone into a calm lake. It creates the waves that interfere with natural waves made by blows of the wind for a couple of seconds until situation gets back to normal.

I too went through similar arguments. Sentiment begets the news and never the reverse. This is why Elliott Wave states that news or events shall arrive to justify the forecast, and never the reverse.

Here is an article that might help:
https://www.elliottwave.com/Interest-Rates/Look-Whos-Leading-the-Way-on-Interest-Rates-Its-NOT-the-Fed

The reason why sentiment drives the prices and not news is because news triggers the sentiment that's already there. If there is no sentiment there is no price increase even if the news is big; and we have seen this in situations like Cloakcoin where the new site didn't help. Where as, a mere article or web update can drive a coin like EOS up- everyone knows of EOS being an Ethereum killer but sometimes we need to be reminded.

Indeed, the decision to cancel segwit2x did not happen in a bubble, it too was driven by outside influences.

Personally I was expecting a correction after segwit as coins would go back from private wallets towards exchanges, supply would increase and btc would be sold to rebuy alts that were sold in the hope of free coins. So it happened a few days early...

Apparently you did not read my blog link on Sentiment being a Quantum Event.

At this point, to each its own pathway.

This is pretty much what I agree with. Glad someone brought this up.

I understand you might get bored with similar arguments, but I know most of your stuff, and the staff you recomend. I also know statements you copy paste everywhere. Thanks anyway.

Perhaps sentiment manifests action, which creates news, twice removed from reality.

Once Bitten Twice shy....mhmmm..good Quote and Song,...Mhhmmmhhmmm....

Thank You Kindly

Then, to each its own. I wish you MASSIVE profits!

The Numbers are speaking in a silent march/rythym...like a slow drumroll before the gates are charged of a city.....this time however...it is Not EOS as a city getting Charged and then having to rebuild .......it is now fortified strong as ever............it is What propels EOS upwards that is getting Charged.........Feel the Battle hymmm that speaks in Silence.........

Great My friend...
Thank You Kindly

As well...seems ...you and The Sage , of ancients..."Nostradamus have a Commonality.....with the future predictions of thy Numerals as in the Numbers. 1-9 and 0 as placeholder..........

Thank You Kindly

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Glad to see another good post.
I've resteemed your post!

Thoughts @haejin?

I posted 8hrs ago with:

Now:

@haejin.... See where we are now?? :D :D

just broke up!!!

Hi. I can't send you a tip in BTS. It says 'Unknown account' in BitShares client. https://cryptofresh.com/ also cannot find your account. Can you please check this?

Thanks for letting me know! Any other coin in my blog would do.
Mighty grateful!

@haejin ... plz update ... looks like we are at point iii