No.1: Short return to (e) and then break out upwards.
No.2: Potential bear trap (abcde would then be void and the run down would be 5-wave as c) and thus possibly about $1,000 rewind and then surprise the bears with a strong rise.
No. 1 is CRR too bad and therefore not tradable for me.
No. 2 would be in the example shown a CRR of 3.49 to 1 and thus in the rulebook. Optimum entry would then have to be sought, depending on the wave 3 of c.
Good luck and happy trades
Stefan Bode
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For a presumed 3, no dynamics appear to me on the BTCUSD. Without dynamic a move of a wave 3 is also unlikely. Therefore, long positions should be hedged at entry. In any case, my target range has not been reached and therefore I will stay out of the Bitcoin at midday.
P.S. What does not want to rise, may want to fall.