SUMMARY
Alibaba (BABA) a 257% profit since completing the Cup & Handle bullish pattern as shown in below chart. While the rise took over a year to delvier 257%, such returns are realized much more quickly in Cryptos. It also pinned a classic five wave impulse motive up (blue). What happens after a five wave move?
The requisite correction what happens after a five wave motive; in either direction. The ABCDE symmetrical triangle pattern is one potential. It would serve as a consolidation that would allow much higher highs in a few months time.
The alternate is the standard ABC correction. It looks more to be a flat ABC (3,3,5). The completion would also generate a downward wedge. This too would also lead to all time new highs but the correction would be much deeper than a symmetrical triangle. Regardless, if the blue five wave labels are correct, a correction that even John Mao won't enjoy could approach.
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