SUMMARY
Worldwide Asset Exchange (WAX) is another example of how a coin's genesis begins with a correction. In such cases, the correction is more usually deeper and longer than expected. First because it's an altcoin and second, if it's a new ICO on exchange, there is not enough liquidity. The below chart shows an ABC correction in probress. This would most likely be a ZigZag (5,3,5) type.
Since the correction satrted on early February, having it complete soon might be the primary count but the top alternate is clearly that of an extended one. The five subwaves of the C wave looks to be nearly done and at minimum, that would mean a sizable relief bounce is due. IF the correction decides to extend after the bounce; then the Elliott Wave labels will need to be updated. For now, let's keep it as it is.
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