SUMMARY
Technically, Basic Attention Token (BAT) has actually been correcting since June of 2017 and that truly is an extended correction. This was only possible by a very sideways meandering of price that carved out not only complex but combination subwave corrections. Because of this, the ABC retracement waves could be complete. The current wedge pattern being a triangle could potentially be wave 2 of a five wave impulse. However, as long as Bitcoin itself remains corrective, little upside can be expected for BAT.
From C wave, an impulse motive was placed and the abc (white) of the wedge pattern shows it to be nearly complete. The miniscule degree of trend red five waves down shows that one more lower low would complete the correction. Therefore, a breakout is expected and the questions would be the degree of follow through should Bitcoin not yet be trend reversing.
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