Crypto market made sharp and impulsive decline from the highs after a completed 5th wave as we have been warning about in the last couple of months. So, we ideally see it as part of the first leg “a”/”i”, which means that current rally should be as part of an (a)-(b)-(c) correction in wave “b”/”ii” that can find the resistance here around 61,8% – 78,6% Fibonacci retracement and from where we can expect a continuation lower within wave “c” or maybe even wave “iii”.
Elliott Wave Analysis: Crypto Market Is Looking For Another Drop by ew-forecast on TradingView.com