This is my current scenario for how BTCUSD will play out with this recent correction.
By one count, this recent drop could be Wave 1 of Wave C correction from the high of 9900.
Reasons for - reasonable correction on the B wave from the initial 5 impulse waves down. Wave B-C is at a shallower angle up than wave B-A.
It's a possible count, but the B wave had a really truncated C wave, and the Wave B-B was super shallow, only 0.382. So there is another count on the table as well. Will post that in a moment.
By one count, this recent drop could be Wave 1 of Wave C correction from the high of 9900.
Reasons for - reasonable correction on the B wave from the initial 5 impulse waves down. Wave B-C is at a shallower angle up than wave B-A.
It's a possible count, but the B wave had a really truncated C wave, and the Wave B-B was super shallow, only 0.382. So there is another count on the table as well. Will post that in a moment.
