NAVCoin (NAV): Fractal is Playing Out
SUMMARY
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NAVCoin (NAV/USD) impulsed with an extended 5th wave. Hence, the deep retracment which did not reach the prior wave 2 lows, but rather the wave 4. The white box shows a pattern that could perhaps be getting patterned out in the blue box but at a different scale.
The countours of the price thus fave for the correction is looking more like a rounded price formation (blue arrow). The correction from the wave 5 has been labeled as wxyxz (blue). Since price is still in the basin phase, but impulse waves 1 and 2 (blue) are complete, blue wave 3 should provide the onset of the right wall build. The MACD is also moving within the contracting lines of a symmetrical triangle and once more proximal to the apex, should breakout as shown by the blue arrow.
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