Finally after days of "sideways" movement today it broke up clearly!
Price broke out of the blue triangle here, and have retraced down to it, testing support and making the green 3. and 4. Elliot wave.
Here is the daily chart, and I have lined up how I think a bull scenario might happen in pink, based off fibonacci levels.
As we can see of the waves the blue E wave of the correction finished in a red abcde followed by the light blue triangle ABCDE.
The breakout has yet to be confirmed by volume, and the blue triangle must hold as support.
If these fail to confirm we may still be in a correction.
These are just my thoughts, not a trading advice.
If you have another view on this post your welcome to discuss and post your charts in the comments.
If you'd like my technical analysis on another coin, please ask in the comments.
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