BLOCKNET (BLOCK/BTC): Potential Head & Shoulders Discerned!!

SUMMARY

Blocknet (BLOCK/BTC) looks quite ready to rise. A leading diagonal serves as the red A wave and with the five subwaves of wave C; this is a zig zag. The rise thus far from red C could be labeled as impulsive and is now correcting. The MACD is turning up on a daily scale and a rise in price can enable the next impulse round towards 0.00585 BTC. I really like Blocknet as it too is a decentralized exchange (DEX).

One pattern is that of a Head & Shoulders bottom formation. The below chart show the Left Should (LS), Head (H) and Right Shoulder (RS). The Volume thus far confirms. The pattern is not complete nor confirmed! So, the pattern still requires the completion of the RS and price needs to breach the Neck Line. IF those occur, the price target could be 0.007 BTC.

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.

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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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