Is CND Ready For Wave 5?
Updated
Please reference Chart.
1. The current CND channel, marked in purple, shows the potential for completion of Elliot 5 Wave which states that price action travels using a 5-point wave followed by a 3-point correction.
This would leave CND with one more wave back to the top of the channel at about 1550sats, and would then experience a 3-wave corrective move.
The pattern would be nullified if price broke through the top of the channel, or maintained its course inside the channel through the next wave.
2. The "Bars Pattern" tool (left side taskbar) can help visualize one potential course of price action by copying the previous wave's path, but of course should never traded on or given much weight in general.
3. The target of 1500-1600 sats yields over 80% returns with a significant Risk Reward Ratio (RRR) of 6 (which is measured by comparing potential gains against a stop-loss position).
I generally trade anything with an RRR of 3 or more, so a 6 is definitely an attractive bet, like having a straight on a board with no flush potential.
Position: Long
Potential: 82% ROI
Trade CND: binance.com/?ref=10936731
1. The current CND channel, marked in purple, shows the potential for completion of Elliot 5 Wave which states that price action travels using a 5-point wave followed by a 3-point correction.
This would leave CND with one more wave back to the top of the channel at about 1550sats, and would then experience a 3-wave corrective move.
The pattern would be nullified if price broke through the top of the channel, or maintained its course inside the channel through the next wave.
2. The "Bars Pattern" tool (left side taskbar) can help visualize one potential course of price action by copying the previous wave's path, but of course should never traded on or given much weight in general.
3. The target of 1500-1600 sats yields over 80% returns with a significant Risk Reward Ratio (RRR) of 6 (which is measured by comparing potential gains against a stop-loss position).
I generally trade anything with an RRR of 3 or more, so a 6 is definitely an attractive bet, like having a straight on a board with no flush potential.
Position: Long
Potential: 82% ROI
Trade CND: binance.com/?ref=10936731
Note
Got some sideways action going on thanks to the alt-dump, but target seems likely sooner rather than later. Hard hodl.
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