After a correction WXY (double zig-zag) we are on the way to a 1 2 3 4 5 impulsive wave, breaking up the downtrend line of the last two months. Bull flag Chart Pattern being applied The recent good news about "Coinbase Custody" is targeting institutional money, making the moment good for the bulls. www.coindesk.com
In this asset we have an ascending triangle acting perfectly so far, a huge volume bars, after the last news about being listed on CoinBase, huge potential in this project in 2018!
After a correction wave ABC, it is preparing for a impulsive wave 1 2 3 4 5, ending the correction wave 2, is heading to wave 3, MACD crossing Bullish.
Low risk and high reward in this asset, close to its historical bottom, MACD on sideways for a long time which may be representing accumulation period. Even with bitcoin recent dump it maintained its support levels, 50% 100% 200% of sight gains
RSI very oversold in the daily chart, Retracted the level of 78.6 of Fibonnaci, price is falling following the Bitcoin but the volume remains very low, Elliot count made a impulsive wave 1 2 3 4 5, and is performing a ABC correction.
After a impulsive wave 1, 2, 3, 4, 5, is performing a A B C correction, within a descending wedge pattern.