EOS Update: Will EOS/BTC Rise while BTC and EOS/USD Correct?
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SUMMARY
I have been emphasizing how the /USD pairs have been much ahead of their /BTC counterparts with regards to price progression. I would like to use EOS as an example.
But first, a quick update on EOS. The below chart is original from prior projection of $2.75 and clearly EOS well exceeded it.
Below shows that five waves are complete. Elliott Waves states that after five waves, there is a requisite a,b,c retracement. To that end, I've laid out the a,b,c waves and the correction could dip to $1.85. Is this the time to panic? Hardly! These corrections are very healthy!
Always ask yourself: Am I seeing the forest clearly? The below chart shows how one could get so caught up in the disappointment of the a,b,c correction and lose site of the forest; e.g. the bigger bull trend as shown by the blue Elliott Waves. Note how bule wave 1 sub waves are the five white waves and the coming a,b,c correction is the blue wave 2. So, ask yourself, what wave comes after 2? Wave 3 and in this case UP! And wave 3 will not be lower than blue wave 1. In that light, one's emotions calms and serenity sets in...not because of a guarantee but you no longer are afraid of the unknown but rather are aware of probable pathway.
The below is a chart of EOS/BTC. It's clearly behind in price progression compared to the EOS/USD pair. So, while Bitcoin corrects, all the Altcoin/BTC pairs could do their catch up. And meanwhile, the Altcoin/USD could do their corrections as well! Do you see the inter-relationship? Check out the video for more details!
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?
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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.**
I had mentioned earlier that EOS barely even flinched in the wake of the first part of this dip.....winner winner chicken dinner folks.
btfd
EOS is what is Lightning for all Thimgs to come.......... some whisper in the winds of the lightning network.......... some seek the spirit that inhabits the waters ......... EOS is simply the goddess of the Dawn that awakens many without a yawn .......
Great my freind great articles for all
Thank you kindly
Thanks haejin!
Eos will be great!
@haejin - resteemed - this is great news it will give me time to take a position, what are your long term predictions for EOS 5 years out.
after this display with so many tokens being released on the market everyday, I wish for another correction back to .50. I would scoop so much more. I read on another post and I will probably follow suit. Not selling any EOS until its a $500
I love your posts.
Your this post was also great like your other posts
What's the sound of a tree falling in the woods...a cash register opening...cha-ching! The Tao of TA
Hello Haejin, let me first say I've been studying your posts for a while with great interest. You really made me see the power (and pure magic, I would say) of TA. I live on a small island in the Caribbean sea, and it takes some time to get the EW books delivered, so in the meanwhile I've tried my best to find all the EW instructions I can get on the internet.
I've been counting the waves in the EOS/XBT chart. I was wondering if I'm doing it right. In this post you show us a cup and handle in the forming on the daily scale. I was wondering if I'm correct to conclude that, if we take it back to the hourly chart, the end of wave V. will probably be the neck of the cup, and the ABC correction will form the handle. If that's the case, we still have some way to go. My pricetarget to ladder out would be around 0.00050 BTC then. Hope you can elaborate!
