btc123
Long

Is CND Ready For Wave 5?

BINANCE:CNDBTC   Cindicator / Bitcoin
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: https://www.binance.com/?ref=10936731
Comment: 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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