SUMMARY
NEM (XEM/BTC) counts well on the impulse waves which has now repeated twice. The initial abc correction shaped out a wedge from which price broke out. The completion of the second impulse has led to the requisite correction.
IF the primary corrective count is a flat abc; then the final five subwves of red c wave could be as shown where waves 1 and 2 are placed and so 3,4 and 5 are remain for a lower low.
Another pattern based correction could be a triangle where a,b,c,d,e waves allow for the needed time consumption of a correction. Regardless, XEM will be following BTC's lead for price pathway.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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