SUMMARY
Augur (REP/USD) has generated a very classice five wave impulse up as shown in the below chart. Wave 2 was an abcde triangle while 3,4,5 completed in very precise Fibonacci ratio. The current correction was a steep angled decline as a wedge pattern and for Altcoins, this usually is an indication of a breakout which is quickly followed by further sideways action.
The correction is best counted as an ABC and price is very close to the Apex point. So, on the short term, a breakout is expected and that should carry prices higher. But, as said before, the steepness of the ABC also makes likely further sideways price action which should be kept into awareness.
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