A break of the will likely lead to a drop to 71 cents. If this fails then a fast drop to 56 cents is likely as there is no support between these levels. My worst case scenario is a drop to 26 cents (back where we started), this a low probability scenario but I think it is on the table if BTC does go to 6k or lower.
In the shorter term we need to see ripple rallying soon to consider the total correction over. As it stands this count looks quite probable to me and I doubt we will get a truncated C wave as I have drawn in the chart e as we are still in a bear market. So i caution traders going long to be careful as this correction does not look finished quite yet.
Comments and feedback are appreciated and like and follow for updates. Will do a shorter term analysis after some sleep :)