In the past few months, BTC has formed a terminal impulse wave where w.4 retrace to an area of w.1. I have labeled all the waves in the diagonal line and looks like the bullish cycle has ended. Now according to the rule of a terminal impulse wave, the price should retrace back at least to the start of w.1 of diagonal, and that is ~28958. What is your thought?
Trade closed manually:
I closed manually after the price bounced back. Now I'm just waiting for the price to finish (a) bounce back and make (b) and then imma short for C
Comment:
Oh well that's a big drop right there
