This is an update to my previous short term plot linked below. I was originally looking for a 12345 impulse to take price up to the 3700 range. But instead that leg up turned out to be an ABC or a truncated 5.
However, the last leg down does NOT look like an impulse, but more like correction. Thus my theory of a possible ABCDE, and the trendlines line up nicely for that scenario. So this abcde could make for a wave 4, in preperpation for one more leg down in wave 5 to come.
My last short term plot:
. . . .
Background: This is a continuation of my calculations to find the 'bottom' and consider whether it will go any lower or not.
First I saw 3618 on CoinBase as important which had been on my charts for over 6 months:
Getting closer, I started to see a bigger picture of a 4 wave impulse that started with the 7400 drop:
As it bounced, 4425 came into focus as the big hurdle:
After it topped at 4425, a rising wedge combined with EW waves pointed to a serious pullback:
So now zooming back out to the original large 5 wave impulse, targets are in sight again: