SUMMARY
QTUM is an model Altcoin with regards to corrections that just takes a very long time! I'm certain that many might have thought the initial red wxy was the probable end of the correction but given the nature of Altcoins to drage their feet, this sideways price movement was well extended. I've labeled it as WXYXZ triple combination with the Z as a triangle candidate.
However, IF Bitcoin does a lower low, the whole Cryptosphere will follow and so lowering the Z as shown below makes it the next alternate count. The blue abc of Z would extended as well.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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