SUMMARY
Thus far, Bitcoin (BTC) has put in the blue waves 1,2 and 3 with 4 and 5 still remaining. The below chart shows that price is still moving within the yellow outline of a downward wedge. There is likelihood that the blue wave 3 could go lower than current level but it looks ready to start blue wave 4. The overall fill of the current price micromoves is within the larger red ABC of the blue B.
At this larger perspective, the wave (A) and (B) of blue D is in progress and as shown in the above chart, red (B) is nearly complete. The bottom yellow long term support needs to hold.
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