BLACK COIN (BLK/BTC): Breakout Continuation

SUMMARY

Previous update on Black Coin (BLK/BTC) had shown the two very large wedge patterns as shown below. However, since then, price has broken out of the blue second fractal wedge and generated a smaller wedge shown in purple. As most Altcoins have certain personality features, this symmetrical triangle propensity is clearly an attribute of Black Coin. Price needs to now break out of the purple wedge and that could happen anytime.

A close up shows the impulse (white) waves that took price out and above the blue upper line of the larger wedge. The smaller purple wedge pattern coincides with the the wave 2 of a correction following the white impulse waves. I've added the subsequent five waves that would enable price to generate the onset of wave 3 up. So, a decisive breakout is needed yet again but at a smaller scale.

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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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