SUMMARY
After completing a five wave rise, Populous (PPT) undertook the requisite process of a retracement which has been in progress since early February. Thus far, the % retracement has been deep and exceeded the 0.78 Fibonacci zone and likely heading towards the 0.88 area. While the symmetrical triangle will likely provide a breakout, I believe it's also important to remember that Altcoins rarely complete a quick or timely corrections. In fact, price already looks to be traversing sideways. Now that most of the decline is complete, the time consumption phase is kicking in and that means sideways meandering horizontally without direction.
This chart shows a projected pathway of how PPT can take a couple more months while only putting in incremental lows. The wxyxz (red) triple complex waves show that the "Basin Phase" has well started and the blue abc subwaves could mark the rest of the correction. Is this the time to abandone PPT? Not at all! It's time to prepare the ladder cast.
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