SUMMARY
Note: RIPIO anaysis request is in the que. Please be patient, thanks!
Rcoin (RCN/USD) basically started its genesis in a corrective form. The down wave was a clear five subwave move for red A and red B carved out a triangle pattern. It seems that wave C is not yet complete. IF the correction was already complete from where red A is; then for an Altcoin, it's too quick. IF this is an ABC correction, the fact that it's doing a seeming rounded bottom formation shows that time is being consumed. Altcoin corrections are farely quick and almost never V-neck type.
Here is an alternate count and much of it will be determined by how price action behaves in the next few days. IF the symmetrical triangle lower line holds up the price and price traverses as shown by the blue arrow line, then the whole correction can be labeled as a WXY complex with the Y being a triangle pattern. Let's see how this plays out the next few days.
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