Friends, I hope your all having a fantastic Friday! I am attaching a chart of what could be transpiring as we see Crypto's slump across the board. The focus has been that BTC is within the confines of its FINAL 5th Wave up, but that Final wave is constructed of 5 smaller sub waves (or impulses). If this correction continues, the rationale is that 69K was the top of the 3rd sub wave. If this is indeed the case, then we would be half way through a corrective 4th wave. These structures are typically an "A-B-C" corrections. For example, our sub wave 2 that bottomed at 39.6K, was an ABC. In the 4th sub wave correction, EW rules state that the .382 Fib is the most logical area of support. So I have overlaid the Fib with a solid red line to depict where prices COULD go. Remember that is a soft target and not a rule!. It could be marginally lower or higher.
The last piece of the puzzle is ALT's. I still hold to the belief that the ALT's, especially those I have detailed countless times here, will begin their BIG moves upon the start of the final impulse of BTC to its final target. That target has been and remains the 4.236 Fib (72.4K-77K range to allow for a deviation wick). Once that top comes in, it is possible that ALTS fall initially with BTC as it rolls over, but some ALT's will actually reach out to their FINAL TOP upon the B wave retrace of BTC's bounce. That bounce of BTC will be a LOWER HIGH, and it will mark the beginning of the collapse of the entire crypto complex. Don't worry, I will be watching the show alongside with you. For now enjoy the weekend! :)
Good luck sir