Hi guys, heres an idea that i feel great about on SALT
Salt is a lending platform that are you to take out cryptocurrency loans with fiat currencies. A first of its kind to have a working product.
Buy: 66642 - 74000
Sell: 136000 - 152000
Fundamentals:
Salt plans to release their credit cards which are scheduled for release in Q1-Q2
They are adding ethereun based loans by end of 31st of march
Adding development tools and API
They are holding a conference on 10th of march, which would bring a lot of exposure to this coin.
Technicals:
SALT looks like to have completed its 1st 5 impulse waves. The corrective wave had retraced very nicely to just around the 0.618 region - very healthy!
It has formed a triangle in which the bulls and the bears are fighting it out.
Taking fib retracements from the 1st impulse wave, the 3rd impulse wave had reached a target of well more than the 1.618 range. It would be likely to assume that the coin may target the 2.618 range or even higher - where i've targeted it.
some people may say that the 2nd corrective wave invalidates the elliot waves and thus makes this a failed breakout. i disagree, because it does not retrace into the start of wave 1, this is a elliot wave pattern.
Im still new to this TA stuff, trying to learn Elliot waves and fib retracements, im welcome to critiques. Grill me :)
Salt is a lending platform that are you to take out cryptocurrency loans with fiat currencies. A first of its kind to have a working product.
Buy: 66642 - 74000
Sell: 136000 - 152000
Fundamentals:
Salt plans to release their credit cards which are scheduled for release in Q1-Q2
They are adding ethereun based loans by end of 31st of march
Adding development tools and API
They are holding a conference on 10th of march, which would bring a lot of exposure to this coin.
Technicals:
SALT looks like to have completed its 1st 5 impulse waves. The corrective wave had retraced very nicely to just around the 0.618 region - very healthy!
It has formed a triangle in which the bulls and the bears are fighting it out.
Taking fib retracements from the 1st impulse wave, the 3rd impulse wave had reached a target of well more than the 1.618 range. It would be likely to assume that the coin may target the 2.618 range or even higher - where i've targeted it.
some people may say that the 2nd corrective wave invalidates the elliot waves and thus makes this a failed breakout. i disagree, because it does not retrace into the start of wave 1, this is a elliot wave pattern.
Im still new to this TA stuff, trying to learn Elliot waves and fib retracements, im welcome to critiques. Grill me :)
Comment:
Looking back on this stuff makes me quite nostalgic.
And i realise the error of my ways when I first started out practising TA.
And i realise the error of my ways when I first started out practising TA.
In Technicals, SALT has actually completed 4 of the 1st 5 impulse waves meaning there is 1 more wave up!.