SUMMARY
Is the sky falling on the cryptosphere? Seeing how some of the permabears are trying be more right than a broken clock is a bit amusing. I've said it many times: Corrections are healthy! They are absolutely require to progress upward in the form of a two step forward and one step back procession of price waves.
The below shows not an exhausted PlexCoin (PLX). It isn't about to crash, it isn't about ot collapse but rather correct into a minor Handle formation of a Cup & Handle pattern. The Elliot Waves show that most likely the handle pattern will coincide with wave 2 of circled 3. The blue outline depicts a larger Cup & Handle pattern and its interesting to see how the smaller, white one is embedded within the blue one. Such impregnated patterns often result in sizable upswings.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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