NeuCoin (NEU) is in the Basin Phase

SUMMARY

After a vertical move up in five waves, NeuCoin (NEU) initially declined in a channel and which morphed into a convex roundish wxyxz correction which is still in progress; except its currently probably in the latter stages. The below chart outlines the wide rounded price pattern and NeuCoin is more than 2/3 complete.

The basin phase is when the very bottom of the rounded price formation is being placed often this is literally a near horizontal sideways price action (blue rectanble). Elliott Waves show that the channel was likely the abc subwaves of a higher degree of trend white W followed by the X,Y,X and Z. The final Z wave is almost complete. What does this mean? Well, the MACD is also near fltaline; the most boring mode of consolidation; but it still works. The blue arrow line projects a potential MACD pathway which would also help define the price action to build the right side wall of the rounded price pattern. Timing for this to likely initiate could be some time in early May or so.

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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
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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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