SUMMARY
GIFTO (GTO) completed an impulse wave up as shown by the blue labels. The correction since then has been complex and also a combination. In Elliott Waves, this is the most convoluted type of retracements and requires alot of patience to label. The two wedge patterns also stand as fractals and as a whole, the price has been channeling sideways. While the current price seems to be breaking out, being a bit reserved until Bitcoin itself starts trend reversing to higher highs would be preferable.
Detailed labeling with subwaves shows a wide ranging WXY (blue) as the likely count. Altcoins have a propensity to generate fractals consecutively so a third triangle pattern has a high likelihood. The blue Y wave label is calling for a slightly lower low potential as the the red abc subwaves could still have the c wave incomplete. Still, the whole correction could be near the terminal end.
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