SUMMARY
What makes a breakout genuine? As a Technical Analyst, I always look for at least two rounds of mini-Impulse waves up. The below chart shows that AppCoin had started it's cryptocoin life with a correction. The genesis downdraft was an A wave of a corrective ABC. The red B wave subdivided nicely into threes. The red C wave showed the 1,2,3,4,5 subwaves.
A closeup shows that wave 1 and 2 of the initial impulse are complete and wave 3 could be as well, if not, a small higher high could remain. Once wave 4 and 5 complete, the target for 12,834 Satoshi should be viable. Following the completion of this impulse; the requisite correction would likely equal a 50% retracement; however, let's first finish this current impulse.
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