AppCoins (APPC/BTC): Breakout!

SUMMARY

What makes a breakout genuine? As a Technical Analyst, I always look for at least two rounds of mini-Impulse waves up. The below chart shows that AppCoin had started it's cryptocoin life with a correction. The genesis downdraft was an A wave of a corrective ABC. The red B wave subdivided nicely into threes. The red C wave showed the 1,2,3,4,5 subwaves.

A closeup shows that wave 1 and 2 of the initial impulse are complete and wave 3 could be as well, if not, a small higher high could remain. Once wave 4 and 5 complete, the target for 12,834 Satoshi should be viable. Following the completion of this impulse; the requisite correction would likely equal a 50% retracement; however, let's first finish this current impulse.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It shoud not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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