SUMMARY

The price pattern for Basic Attention Token (BAT) has been correcting per an ABC flat trajectory. With the white wave impulse up, the retracement has patterned out a downward wedge. The recent price breakout from this wedge needs to be assessed as to whether it is a genuine breakout or just a bounce.

Given the overall sideways moving nature of the correction, I believe one has to find the current breakout a suspect (circle). It doesn't look impulsive either.

A complex correction label coudl be come the primary count as shown below. The sideways move tendency could mean that the white Z wave has yet to come via in incremental lower low.

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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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