EMC2/BTC looks like a compelling long opportunity. I love this set up so far!
After analyzing this pair, I discovered that price appears to be moving in patterns. Price seems to move up 5539 points, have a corrective move to the downside, and then move up again, around 5539 each time.
With this logic, I was able to predict and plot the next move on the chart. I have calculated each cycles move by measuring the amount of points it moved up before correcting. After I found there was an approximate 5539 point move before each correction, I was then able to replicate a cycle at around 5539 points to see the future direction of the instrument.
I am expecting an up move of 5539 which will complete at around 0.00012800. Below I have illustrated the calculations as to how I came to this conclusion.
The principle of the cycles being used here is that every time there is an up move, there is a corrective move, and then an up-move which exceeds the previous move by approximately 5539. With this information we can calculate (using cycles 1+2 data) where cycle 3 is likely to end up. Using the calculations below we can make a mathematical assumption as to where price will lead.
Cycle 1 = Cycle + 5539 = 0.00008100
Cycle 2 - Cycle 1 + 5539 = 0.00009100
Cycle 3 - Cycle 2 + 5539 = 0.00012800
Following these calculations, we can expect a reliable up-move, using previous trend cycles to predict a reliable, yet conservative move.
Do remember that price may correct before cycle 3 initiates. So it is important that you watch this trade carefully before considering a position. I would also like to point out that there is a key side-wards at 0.00010000. Price needs to break this level and retest this level before Cycle #3 completes.
I will be posting updates on this trade below, so leave it a like or follow so that you can keep up to date with this analysis.
Price reached target level, and is now correcting to the downside. When price completes the corrective move to the downside, we must be open to the possibility of a cycle #4.
When correction completes I will post more updates below.
Price of the Crypto currency doubled in value in just 21 hours and we caught the entire move here!
I am glad you were all able to follow this trade with me. Congratulations to anyone who used this analysis to profit with me.
Until 19th December, I would just assume that price will rally in an attempt to price in Apple. (Since if this is true AND happens, would be absolutely massive). Only when the raw fundamentals come out (as you mentioned above) come out, I will then reconsider my analysis with the new data.