METAL Could be at Terminal End of Correction

SUMMARY

METAL is showing a Flat (3,3,5) ABC correction. The C wave shows the subwaves 1,2,3,4,5 and could likely represent a correction bottom. As it is customary for Altcoins, price has been going sideways now since December. This drawn out time consumption is quite common when liquidity is very low.

The impulse waves (white) retraced about 50% of the correction. The subsequent correction is tracing out an abcde triangle pattern, which is one of the most frequent way to terminally end a correction. This whole setup can be labeled using wxyxz or other ways; however, the triangle pattern form and fits best. Wave d is soon to complete and e remains. Once the full abcde is placed, the white impulse waves would mark the trend change from down to up. This impulse would allow the breach of the upper white line of the triangle.

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