I only thought of this count yesterday, and now all the numbers make sense. What if we only finished A of the ABC correction?! and now, we are going for B which could reach above 12k and that would give the market the impression that the correction is over and then comes C with a drop to $3000-$5000 price target.
Try this count yourself and check retraces and...
As I highlighted in my previous TA for BTC. I strongly believe we are on wave B out of the big ABC correction. We just finished miniwave 2 (hitting exactly 0.854 retracement of miniwave 1 out of subwave A of the big B wave. This count is only invalid if BTC drops below $6400.
Will update soon.
As you can see in my TA, I believe 5th subwave is about to start. 3rd subwave retraced to 409 sats (0.5 fib retracement). You can see flying doji on 30min, 1hr, 2hr time frames. Conservative target for 5th subwave would be 552 sats. It could also reach 1.618 fib extension 640 sats.
Let me know what you think.
