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**Summary:**
Jay, from the BINJ Team, discusses charting and analysis of cryptocurrency trading, specifically focusing on SHIB and comparing its patterns with those of DogeCoin (‘DOGE’). He delves deep into the Elliott Wave patterns and provides insights based on his observations. This discussion also highlights the significance of wave patterns in predicting market cycles.
**Summary in Bullet Points:**
1. Jay conducts a session on ship charting, noting a recent upswing in its movement.
2. He uses the Poloniex chart for his analysis, claiming it provides a more comprehensive view than Binance.
3. Jay identifies a wave pattern in the chart and mentions its alignment with the Elliott Wave principle.
4. He emphasizes the importance of wave length and amplitude, noting that wave three cannot be the shortest wave.
5. Jay compares the wave patterns of SHIB with DogeCoin, which had its first five-wave pattern.
6. Elliott wave rules suggest that if wave one isn’t the biggest, it can’t be the shortest; a pattern observed in both SHIB and DogeCoin.
7. DogeCoin, after its initial rise, took about three years to start another significant upward move.
8. Jay predicts the potential for DogeCoin to reach around $2 to $2.50 in its wave five.
9. He also shares his personal experience, mentioning he bought DogeCoin when its price was around 6.5 to 7%.
10. Jay concludes by suggesting that SHIB is behind in its cycle compared to DogeCoin and its next move might be similar to DogeCoin’s wave three.
Disclaimer
The content shared in this presentation is intended solely for informational and educational purposes. It should not be considered as financial, legal, or tax advice. The views and opinions expressed are exclusively those of the presenter, who does not hold any licensure as a financial advisor or registered investment advisor.
Investing and trading in cryptocurrencies are activities that carry a substantial risk of financial loss. The information provided does not imply or guarantee success or any specific outcomes. Potential investors and traders are urged to consult with professional advisors before making any financial decisions.
Please conduct your own research and due diligence, and acknowledge that you are solely responsible for any investment decisions you make. The presenter is not liable for any potential losses incurred.