Joeshmoguy

SUB still moving healthly within a Short upwards trend channel.

BINANCE:SUBETH   Substratum / Ethereum
"One day, Americans might wake up and realize they don’t like big brother watching over their shoulder and having corporations track everything they do. And when that happens, Substratum will be there".
— Justin Tabb, Co-Founder

I think SUB's decentralized internet technology applies to other countries more than the U.S. (China for example), but I still appreciate this quote. Could SUB become internet 3.0? I would love to hear your comments. They have a very ambitious and world changing project.

Now to the chart. SUB is still moving within this upwards trend channel appropriately, but as I noted, any deviation from this channel in the next couple of days could be a sign of a downtrend. However, I also outlined where we have a "cup and handle" case as well as another Elliot Impulse Wave case. The 12hr BOLL bands, not on this chart, are starting to diverge once again, indicating a shift up or down. If we remain in this channel, then once again we should start moving toward the center as an appropriate correction from top to bottom and I have outlined some scenarios at which this could occur. We are still riding within our support line of .00076-77, but we need to see some more volume in the next few days. As usual, I will update when I see a change, especially a change in volume .
Comment: I do like the gradual build in volume from just several days ago of around 430 ETH on Binance, to 580, 635, 700 something yesterday and 966 at this very moment. Still need to see a jump to around 1500 ETH before I see this move to the top happening quickly, but momentum is building nicely regardless as we are still within the channel.
Comment: Volume at 1500 ETH right now. SUB is looking better and better.
Comment: Our large cup starting back on 2/19 to 3/13. Then we had a cup form with a correction of about 50% of previous cup until 3/20. Then another cup form about 50% correction of that until 3/27 and currently on our fourth cup or U-shaped pattern, which was only about 25% of that. In addition, .00095 is proving to be strong resistence. All said, we are still looking bullish especially if we can break through the .00095 resistence level on this fourth upswing and again, start moving toward the center of this channel.
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