The current correction on Bitcoin looks incomplete, but it's difficult to be certain if it's a flat or an expanded flat. If it's a flat, it's very close to complete, and a fast move up can be anticipated. If it's an expanded flat, then wave 5 of the C wave could extend.
I'm inclined to label it an expanded flat because the wave B move appears to extend more than 105% of the wave A move. And the recent price action, with long wicks to the downside, despite very optimistic news events, do not give a feeling of strength.
I'm inclined to label it an expanded flat because the wave B move appears to extend more than 105% of the wave A move. And the recent price action, with long wicks to the downside, despite very optimistic news events, do not give a feeling of strength.