EOS: Jaws of Wealth
SUMMARY
EOS is entrapped within a broadening pattern which I call the Jaws of Wealth if price is sitting on the bottom trend line and that is certainly the case. Price moves in a five wave abcde scenario within a broadening pattern. The blue waves show that abcd are already complete and the blue e wave is on deck. This makes it an exciting time for EOS as the potential next rise could be sizable.
A closeup shows that while d is complete, wave e is currently being started, if not already. This means that the lower support line MUST hold against any decisive breaching. Though a temporary piercing would be favorable as that would make it a bull wick. The initial onset of the rise could be in progress as the abc expanded flat is labeled with all five subwaves of the C compelte.
One potential pathway to the upper trend line could be depicted as shown below. The blue line shows a large three wavish incline towards a price level never before seen by EOS. Exciting times are ahead of us.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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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Any historical examples of this type of pattern?
Also, what do you think would trigger it?
That is, unless Bitcoin crashes, in which case, they all come tumbling after.
This is probably one of the most bullish coins besides NEO I've had my eyes on...the fact that Mike N's hedge fund invested money and Bitfinex one of the largest if not THE largest exchange is creating a decentralized exchange on EOS is so bullish IMHO...this looks like the jaws that Ripple had before it's ascent...can't find the chart that haejin posted but i was like "nah it won't go up that fast" "it will take a while to do that" ...sure enough It even exceeded and threw over the trend line within 2 weeks
Mike N also invested in WAX..
EOS is no underrated, people will look at it with Awww when EOS.io launches, and the price heads higher than high. Then they will ask, why didn't I buy any? lol
Its not only technical analysis that looks great. EOS is one of the few crypto currencies which have a rock solid technical foundation and a one of the best teams in the crypto space. No one else than Dan Larimer, creator of steem is the lead developer of EOS.
What if this happens while losing 50% vs BTC? Miss your charts vs BTC or eth
EOS/BTC looks like a cup and handle right now, with the current price sitting at the base of the cup. I.e. if the pattern is correct it should go up from here.
Bite my comment with this jaw of wealth
Seriously. I'm so ready for this.
So am I
This will be Dan's masterpiece, promoting life, liberty and property for all who choose to get onboard.
I hope the Jaws will grow even bigger
I'm Excited :)
You guys should come to the EOS telegram group we are quite productive here.
Welcome!!
EOS General Chat: https://t.me/EOSproject
EOS Governance Chat: https://t.me/EOSGov
EOS Developer Chat: https://t.me/joinchat/EaEnSUPktgfoI-XPfMYtcQ
Alas. Telegram too noisy and disorganised for my taste. Will check out the rental model though.
Thanks