SUMMARY
NEXO (NEXO/BTC) started its genesis as a correction as can be seen in the below chart. The WXYXZ (red) sequence shows to be complete. The first X wave patterned to be a symmetrical triangle. Note how the E wave of the triangle is at the top blue trendline. This usually has a propensity to decline and that's pretty much what happened. IF the final Z wave is complete, then a trend reversal could be in progress.
The reversal impulse is labeled in white. Thus far, waves 1 and 2 are complete and 3 is likely in progress. When including pattern, a rounded price formation seems to be taking place. Could this also morph into a Cup & Handle? I believe so.
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