SUMMARY
LBRY (LBC) prominently displays a double Cup & Handle. While there could be a third fractal; I believe price is more interested in completing the handle formation. These patterns are quite cleanly formed and when two are consecutive, the outcome is often a longer, sustained bull run up. That process has just started.
A closer look at the handle formation shows that an a,b,c correction seems to be progressing. This is a zig zag (5,3,5) type where red wave A has five subwaves, B wave has 3 subwaves the wave C has five. Of the final five subwaves, 3,4 and 5 remain to be completed. It could well mean that perhaps that bottom is near. Once bottomed, a reversal would look quite impressive!
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
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
