LINDA/BTC: Could it Rise with Bitcoin?

SUMMARY

LINDA/BTC is patterning the common wedge or downward symmetrical pattern. However, there are two options and it could be one of those road not taken but same destination scenarios. The first is the abcde pathway. If so, clearly, this would mean a lower low could be expected as shown by the blue line. This would be probable IF the demand for LINDA coin does not outpace the change in BTC price as it rises. But regardless, post completion of the e wave, an impulse driven upwards action is expected as a trend reversal.

Here is the same pattern but a different wave count pathway. The ABC shows a three wave correction and a breakout that could be imminent. The key thus is for price to breach the upper white line of the triangle. In a way, this whole chart could be reflective of a larger Cup & Handle.

The micro-Elliott Wave count of LINDA shows an impulse where wave 3 can allow price to escape the boundaries of the triangle. Clearly, should the bullish sentiment catch on, wave 3 and 5 heights can be extended.

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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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