SUMMARY
BURST/BTC had impulsed up (blue waves) which was followed by an abc requisite correction. Note how the red wave A was much longer than red wave C. This was a clear ZigZag; however, while often the C wave is the longest, it is not always the case. Throughout altcoins, once can identify this type of instance where waave C is shorter than wave A. The shorter Wave C also contains a full set of five waves. Why does this happen? If perceived from the Buyer/Seller interactions, the near vertical drop for wave A cleared out most of the sellers. This means that not enough sellers remained to drive wave C further down than where it is now. Once C was complete with its subwaves; a near vertical, but smaller scale, reversal was initiated. That move is currently being corrected/consolidated via a wedge pattern.
That breakout, trend reversal move is sublabeled with white 1,2,3,4,5 wves and so far the wedge pattern can be labeled using an abc. However, there is a probable case for one more lower low into the wedge pattern so that price can be more proximal to the apex. Assuming this doesn't happen, the second round of white 1,2,3,4,5 shows what could be the subwaves of 1 of wave C.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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