SUMMARY
Many thought that the first stab down was the end of the correction but in my blogs, I had consistently written about the Hurry Up & Wait syndrome of the Altcoins where the impulse moves are always rapid while corrections are notoriously slow. AidCoin (AID) fits that profile perfectly. The below shows the wide ranging ABC corection in progress. Not how the first deep decline was not the bottom of the correction but rather the first phase. The second phase was wave B or the dead cat bounce. Currently, the third phase which I've termed the Basin Phase is in progress.
The subwave mapping shows that wave C likely consists of the wxyxz (red) sequence. The blue box demarcates the probable Basin Phase where price moves sideways. Given another week or so; price should start exiting out of the basin phase and start building the right wall of the rounded price formation.
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Elliott Wave Counting Tutorial #1
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