Beware !! This can be a deeper correction
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I was expecting BTC to bounce from 1.236 fib level of wave A correction, but we broke down and are currently trading just above 1.618 fib level of wave A. The impulse wave of wave 5 of correction wave C has already crossed the amplitude of impulse wave 1 indicating that instead of Elliot, we are in Expanding diagonal waves in our wave 5.
Since we know that Correction wave C can be extended as much as 261% of wave A, I am expecting that BTC will visit that region since wave 5 should at least go till 100% of wave 3 or lower.
Since we know that Correction wave C can be extended as much as 261% of wave A, I am expecting that BTC will visit that region since wave 5 should at least go till 100% of wave 3 or lower.
Komen
After looking at the weekly and daily chart with detail, it looks to me like instead of the correction waves, we are in downward impulsesSo i will be looking for a short opportunity near 40k region
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