SUMMARY
A correction bottom is not an event but a process. One can not say look here's a bottom or look there, I see a bottom. The process of bottoming for Altcoins is always extended, long and slow. To that end, take Cardano. Eventhough it broke out of the downward wedge, a lower low has been put in. This has been seen before and might become more common place. That, however, doesn't mean that the correction will never finish. The below chart shows the wxyxz waves which allows price to go sideways and meander along a horizontal direction.
The bigger view of the correction could more likely be a larger rounded price formation (blue line). This means that price is currently in the basin phase and once it exits; the white wave impulse waves should take price to higher highs into July or so. Following the completion of the right wall, another 50% correction is likely and this would probably form the handle of a Cup & Handle move.
The contours of price and MACD from late December to current confirm the projections for the rounded bottom formation and approximate timeline is extrapolated using symmetry.
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