MONA is Wedging for $68.96
MONA is just about done with a downward pointing wedge pattern and this is bullish! Yes, I am aware of the permabears screaming for Bitcoin (BTC) to fall and obey their wishes for $6,00 to $8,000; however, Sentiment commands the price and permabears consistently forget. IF price breaks out of this wedge pattern, then the first target should be $18.53 or so. While not exact, the first triangle could be seen as a fractal to the current.
This chart shows the bigger picture as to how this bullish wedge fits into the higher degree of trends...not time, but degree of trend in price. I don't try and project time because it's not a reflection of sentiment. While price certainly interacts with time, trying to project both with the same techniques only causes accuracy to suffer.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Disclaimer: 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.**