Bytecoin (BCN) Ready to Breakout or Keep Moving Sideways?
SUMMARY
ByteCoin (BCN/USD) completed a five wave impulse and the correction has thus far taken a downward wedge pattern within which the ABC Elliott Waves seem already complete. However, it would be surprising see the whole correction complete given that it is very likely to time and price extend. In other words, the ABC could morph into a complex correction with sideways moving waves.
The subwaves confirm that the ABC is a ZigZag (5,3,5) sequence and the subwaves thus far seem fully placed. If there is to be a breakout, then we need to see a full set of impulse waves up. That has not yet started and until then, price is primarily expected to move sideways.
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