We are now at the ML of the channel.
1) we are done and going for the second big fall
2) we bounce and go get that upper trendline of the channel (after completing a larger than expected B of Y).
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The recent price action has eliminated some macro scenarios which is good for Elliott Wave readability purposes.
Two macro counts emerge now. Those are quite complex:
1) Green minor double ZZ doesn't have the right look with this proposed truncation.
2) Red minor double ZZ looks way better. Its upward X leg includes a double ZZ as well. Bitcoin loves shallow...
Bitcoin targeting the median line in red. Will it make it? Seems unlikely but nothing is impossible for Bitcoin. We retested the channel below us and are now aiming for the upper trendline. Time will tell if we can get it.