SUMMARY
Adzcoin (ADZ), after placing a five wave impulse up has started correcting. It has come closer and closer toward the apex of the downward pointing triangle. How much closer can it get? IF this pattern is correct, would the likelihood of a breakout be high or low? While there are instances of where this triangle can further breakdown; so far, it has stayed well within the pattern.
The subwaves show that each red A,B and C divide well into smaller three waves (white abc). Can this pattern morph into a complex? Yes. Can the breakout occur but still generate a lower low? Yes and much depends on the price leadership of Bitcoin. However, there is areason why the call downward wedges bullish and that's because it saps the system of sellers. Could a breakout occur and yet end up making a second wedge? Yes.
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