a simplified view.
BTCUSDT Perpetual Contract BYBIT:BTCUSDT
here’s a simplified view of bitcoins downtrend.
from the top of $69,138.5
we had 5 waves down.
after the initial 5 waves down,
we saw a 3 wave move which i have labeled as wave B (wave B consists of 3 smaller waves).
once wave B was completed we begun another 5 waves down (currently working on wave 4).
the final fifth wave should come down to about 22.9k, which is the 100% extension of wave A.
this move is called a simple zig-zag .
