...If so it would look like sort of like this. This 'correction' is already looking quite impulsive which would indicate this is a to b. We may see a gigantic bull flag since wave 1 -> 2 typically makes a bull flag.
Important to know, if we rise above 25,200 before we make a new lower low this entire idea is invalidated.
I will also include a daily chart to help visualize the short-medium term
Check out this perfectly technical double top when you look for inflation. Take the chart and / m2 money supply from the federal reserve. This would imply that the bear market actually started in may of last year and actually did not see a higher high. This is very important because when you consider this, it does not invalidate the 1>2 on a cycle.
Hi The theory can be in play, but if in the second chart you do an( zoom in thing ) , than i think your count it;s wrong( wave 2 can't go above wave 1)
UnknownUnicorn2831343
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@MynameisTeo, You are technically correct, but when you count for inflation it does a technical double top which does not invalidate. See the last chart I also included. Take your favorite btc/usd index and divide it by the money supply (m2)