The Bitshares (BTS) correction is in progress. Five waves had been put in and complete. I've labeled the correction subwaves as shown. If this is an a,b,c; the c subwaves are in blue and so we could now be seeing a wave iv bounce. Wave v could allow a new lower low to around $.32 or so.
Here is the Forest from the Trees. The five purple waves are subwaves to a higher degree of trend blue wave 1. The current correction is placing the higher degree of trend blue wave 2. What comes after wave 2? Wave 3 UP!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Essay: Is Technical Analysis a Quantum Event?
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