DEFI/USDT - leading diagonal as a trend reversal ?

Many of altcoins have same structure as this chart of DEFI/USDT. I think price bounce from the bottom in 5-waves and made leading diagonal - 1st wave in uptrend cycle. I am currently in short, because sometimes these structures look like diagonals, but they are just corrections in downtrend, so we might break the low in next leg to the downside. But I like the bullish scenario more, so I will be expecting reversal at 710 USD. Then we might go up a lot.

Trade closed manually:

I am out on break even. BTC dominance doesn´t have too much space for going up IMHO, so altcoins in general should be going up, so it doesn´t make too much sense to short right now + I can see 5-wave leading diagonal on DEFI/USDT, so maybe the correction is already done and we are going up from now.