The correction will continue and it could drop into the red box or it could consolidate in the area that the price is currently.
Weekly chart - The green and white energy are below 50, indicates bearish pressure continues, which can be a drop or consolidation. Note that the green line and white energy can do a shallow drop and start heading up.
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Everything is on the image, will update on weekend.
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Weekly time frame in log scale
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Just two charts showing the Elliot Wave count for long term-12hr time frame and the near term 45 min time frame. Below is the 12 hr time frame chart and I'm not positive of the primary ABC correction and will adjust when more information is provided.
This is the near term count and possible price action for upcoming week.
In summary, all indications point to continued bearish pressure (not trying to flog a dead horse). I do look forward to providing the bullish scenario and based on the market that will happen. The crypto sphere is just getting going and believe it of not, alt season is just getting started. Peter Brandt twitter has a nice chart comparing BTC/ETH dominance and it is looking good. Not financial advice just information.