The 5-wave impulse sequence, (People buying on impulse) from the low of 0.0001, up to the high of 0.0008,
was followed by an A,B,C corrective move-down, (People scared and selling, and profit taking) to the low of 0.0003,
a 62% retracement, of the 1st and 2nd Minor Waves, in a series of 5.
Some base building is to be expected now, and then a move-up to a targeted 0.0013
Combining a basic 5 wave impulse sequence with a basic 3 wave corrective sequence yields a complete Elliott Wave sequence, which is a total of 8 waves. According to Elliott, this complete sequence is divided into two distinct phases: the impulse phase and the corrective phase. The abc corrective phase represents a correction of the larger impulse phase.