SUMMARY
The below chart shows WePower (WPR) which completed an ABC correction and since has tried to rebound higher. Wave C has clear subwaves of 5 and thus its label is well qualified. The recent bounce was also in a five wave impulse (white) and price is currently correcting as a requisite next step.
Many years ago, I started combining chart patterns with Elliott Waves because EW doesn't always show the fullest picture. Chart patterns can fill in alot of missing information regarding the state of sentiment especially when EW is at an impass or has too many alternate counts. The below chart shows a potential Cup & Handle pattern. The handle is being formed and could be nearly complete. Price needs to decisively breach the upper white line and start impulsing upwards in order for the trend reversal to be maintained. Bitcoin has a similar pattern of a downward wedge and a Cup & Handle pattern. This similarity might be reflective of many WPR holders also holding BTC; hence the uniformity of sentiment.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Coins mentioned in post:
i like WePower (WPR), in my plan.
Well I have been following wepower since its development phase. I believe it has a very strong team and a bright future . Wepower is one coin that makes less noise and more results. Im bullish on this.
please KABOOMMM
Thank a lot @haejin, and I think soon we shall be able to use the comparisons between bitcoin and Elliot Waves in regards to the community's opinions about the missing information not revealed in Elliot waves. Thanks again for your considerate information.
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Other than the Elliot Wave what other indicators do you feel are the strongest in regards to price prediction in the cyprto finance space?
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