If the correction is over then this will be an expanding flat.
There is still the possibility for more down side to make a lower low (since the monthly correction may not be over)
wait for the break out to confirm the up move .
I will post possible trade setup on lower time frame
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I know this is an old post but I stumbled across something truly amazing. Currently I am studying Statistics at the University and the subject is epidemic breakout of Salmonella bareilly, which is an infection causing diarrhoea, fever, vomiting, and abdominal cramps. Ok too much detail.... Anyway I was asked to study a Scatter Plot of cases reported and to describe a pattern. I joined the dots, would you believe there is an Elliot Wave, with 5 waves up, then a correction of 3 waves down with Fibonacci confluence. After the ABC correction, followed a massive epidemic breakout of Salmonella.
So, the Elliot Wave could even be used to predict a possible epidemic! Anyway that just my 0.2BTC and never under estimate the power of the wave.