BTCUSD - analytics with history! Analysis of the corrective move

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Let's analyze two similar corrective movements in July - August 2019 and the corrective movement that we see now. I think many people see him similar. Let's find the differences to understand further expectations.

Since March 2019, the price has been moving in a five-wave growth structure within an upward channel. The corrective movement that took place in July - August 2019 took place after the completion of the upward movement in a five-wave growth structure. In the corrective movement, the price has broken through the lower border of the channel. Then we saw a retest of the lower border of the channel with a continuation of the downward movement.

Now let's move on to analyzing the price movement since March 2020, the price has been moving inside the ascending channel. We see the formation of a five wave growth structure that is not yet complete. The corrective movement, which has its similarity to the price movement of 2019, is in the fourth wave. During the corrective movement, the middle border of the channel kept the price from continuing the downward movement. The price movement up to the level of 26098 does not cancel the subsequent upward movement in the fifth wave to the levels marked on the chart.

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