SUMMARY
1st Blood (1ST) is still a work in progress for the Cup & Handle pattern. The hand has extended the retracement with the Bitcoin decline. Price has not exceeded the low point of the Cup pattern and thus has not been invalidated. The red abc waves have been updated to reflect the extension.
A closer look shows how the subwaves have been placed. The red abc shows that it's likely a flat correction. The red a wave subwaves are shown and thus not a five wave impulse down; hence not a zig zag. The red c wave is also subwaved into five as shown. Either the last wave v is complete or will very soon. The blue lines outline an ending wedge pattern that would be fitting for a breakout.
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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