SUMMARY
GAS has been a real bonus for anyone holding NEO and continues to be so. The correction has been progressing to lower lows and the below chart with Pattern & Elliott Waves can help generate a likely projection. Just as the first fractal wedge took prices lower until proximal to the Apex, the current wedge is doing the same activity. Price is getting closer to the Apex with each incremental decline.
Subwave placements help qualify the higher degree of trend counts. Here the ongoing ABC correction within the second wedge fractal has the impulse subwaves labeled in blue. Since waves 1,2,3,4 are likely done, wave 5 could be a potential last lower low prior to the bottom. This target is projected at 0.00216 BTC.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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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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