Price is currently at an important zone, to determine just how deep the next dip might be.
I see two secanrios:
LEFT side: a WXY correction heading back up towards 4500.
RIGHT side: an correction already DONE, and preparing for next impulse down.
The next leg in either direction will give us more clues, and I will post a new Idea if something snaps into focus.
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 coming together:
As it bounced, I had hoped for a 4500-4700 peak:
But then 4425 came into focus as the big hurdle:
After it topped at 4425, a combined with EW waves pointed to a serious pullback:
So here we are now, to see if there will be a bounce before a lower low is printed:
Per this blue 12345, maybe it was a truncated 5 and we move up now.
Per this Red 12345 (more likely imo) we still have a wave 5 to paint
Let see what happens today.
Zooming in, green wave A did exactly what was expected. Now in wave B that needs to end soon with a strong bounce to start wave C
Zoomed in, the low of candle was 3660, the fib said 3661.85 The bounce was quite weak, this probably will not hold, but interesting to note the exact bounces where expected.
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