SUB/BTC Bottom found potential +400% long term

BINANCE:SUBBTC   Substratum / Bitcoin
Hi guys, decided to update my analysis on SUB (Substratum). We have likely completed wave 1 of a larger Elliot wave cycle and are currently in wave 2 correction OR have started wave 3 up. Either way I believe we have found the bottom as there is a lovely bull wick touching the 0.718 fib to complete sub-wave C. Now i have drawn a wedge pattern that we will breakout of soon and with the nice bounce which still has momentum currently we could get a rally up. However after such a big rally in the first wave 1 and a heavy retrace (wave 2) we could most likely just breakout of the wedge and trade sideways for a while as I have indicated which is common for alt coins that have had HUGE rallies up which SUB has (verge and ripples other examples). I am confident we won't breakdown as it is a descending wedge type pattern anyway but in the off chance it does it will just bounce off the 0.768 fib so a buy order there could be a good move.

RSI- As you can see we have found a bottom on the RSI and are starting to swing upwards which is a very bullish sign, watch for higher highs and lower lows to confirm a breakout.
MACD- Bottom has been found on the MACD with a line cross looking likely if we keep this upward momentum which is very bullish for those who don't know.

For the wave 3 up, the long term target is a 1:1 extension @ 26316 sats             or you could take half profits and take the other half between a 1:1 and 1:1.6 extension @ 32000 sats             as wave 3 is often the strongest wave up and never the weakest. Keep in mind I am short term bullish at the time of writing as long as we keep this upwards momentum AND BTC             behaves but don't get me wrong I am very bullish on Substratum long term.

I have done a small fundamental analysis on Substratum on my steemit if you want to check it out the link is below I'd just rather not 'shill' on tradingview.


*This is not financial advice*

Comments and feedback are appreciated
Tiếng Việt
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng biểu đồ Điều khoản sử dụng Người điều hành Giải pháp Website & Môi giới Widgets Thư viện biểu đồ chứng khoán Yêu cầu tính năng Blog & Tin tức Hỏi đáp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh hồ sơ Tài khoản và Tính phí Tickets Hỗ trợ của tôi Liên hệ hỗ trợ Các ý tưởng đã xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất