CIVIC (CVC): Wave 2 Likely in Progress
CIVIC (CVC) carved out a beautiful abcde wedge with all the subwaves placing very nicely as well to confirm the higher degree of trend. In pursuit of Bitcoin which is now and has been the pace setter into this correction and out; CVC breached the upper trend line and is correcting from an impulsive wave move.
While this shorter term scenario has more than one way of labeling; the abc red waves show a probable near completion of this minor correction. The blue impulse waves up esablished the breach of trend line and the current correction is taking its time.
I've placed the blue subwave 5 of C at around the 0.786 Fibonacci zone where the time and sideways action and degree of retracement would have met all the personality traits of a typical wave 2.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
Protect Your Customers and Your Employees with ID Theft Protection
Secure Identity Platform
Through decentralized architecture with the blockchain and biometrics on the mobile device, their platform provides multi-factor authentication without a username, password, third-party authenticator, or physical hardware token.
How does It Work?
Identity Verification allows you to easily verify your information, and then share only specific details with an identity requestor.
Get the App: https://www.civic.com/app
Great analysis. CVC may have a support at no. 5 as shown if BTC goes down as still it plays a dominance factor for all alt-coins.
CVC may play the important role in identity platforms though Microsoft is now exploring the identity space considering blockchain. I am more betting on Vinny to make it a successful platform to see a rise in the value of Civic.
Keep up the good work. Thanks n Cheers!!!
This is great analysis and is very helpful in understanding the trends of the market!! I would love to see your portfolio over the past 6 months as the results of your great analysis.
That is one fancy, indept chart.
Very good analysis and now a days,
cryptocurrencies are highly fluctuating !
Hello Haejin's followers, I know a lot of you are new here and still trying to figure things out. I wrote a post to explain how the reputation score works. Feel free to check it out. No need to upvote, just read it so that you know. https://steemit.com/reputation/@moeknows/some-interesting-facts-about-reputation-on-steemit
Man I love to read your analysis. Always so insightful. Thanks! @journeyfreedom
lots of competition for cvc
Civic is one of those cryptos that has been seating on sideline but have great potential for a big profit ...
Coins mentioned in post: