SUMMARY
There are always multiple ways of labeling an Elliott Wave sequence. This is the subjective component of Elliott Wave analysis. It's primarily driven by one's perception and every analyst has a variance in perception.
The below chart shows AppCoin (APPC/BNB) with a very obviously set of patterns in sequence. The first is the symmetrical triangle and the second is a rounded obttom which attained a lower low. One has to recall that consecutive patterning is very common in Altcoins. Why? It allows quite a bit of price extension. The rounded price formation has likely placed the final Z wave of a complex wxyxz sequence.
When combining with MACD and Elliott Waves, the right wall side build out has started with waves 1 and 2 (blue) and soon to be finished by 3,4,5. As soon as MACD breaks out, the near vertical move of blue 3 can be seen.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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