The deadcat bounce in wave 4 corresponds to the hype in legalization this fall with the mid term election. After that, we will have another leg down to close the gap at around $1.25 USD. Just my 2 cent.
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Notice my wave 3 is not finished yet. It has a chance to come back down to $2.00 before the deadcat bounce happens.
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Trade Closed. The recent movement has taken out any possibilities of another leg down in current structure.