Maybe yes, maybe no. Market is an unpredictable horse last times, but i observe his moves with patience. See my pprevious idea in that matter;)
Komen
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Under the black line there will be confirmation that 5wave move is ended and correction has started. If so, cutting long positions (partially) after bumps from below this line (61.8 Fibo level measured from 7888 to local bottom will be convenient to do so) can be smart move from longterm holder, and then of course seeking points to reenter cheaper.
Komen
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I think we have now flash crash scenario (ending wave 5th in orange) characteristic for BTCUSD, after so much growth, than any chances for optimistic scenario for another one wave up (green wave).
Komen
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proper image with green option of ending wave
Komen
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even if we think that wave 4 (in green option) can be so deep, than wave 5th in this case should be not so extended as previous wave 3rd, and may not even touch All Time High.