SBD: Morning Update: A Minor Correction Approaches
SUMMARY
IF the e wave is complete and does NOT breach the lower bottom line decisively; then the likely next price move is expected to be upward. One reason why triangles are quite common because it allows the price to become time pacman. With Cryptonians are well aware of how deep retracements can be but also how quick the impulse can go vertical.
The red ABC correction is a FLAT with subwaves showing the 3,3,5 in precision.
This type of wedge has bearish implications and usually the gudiance is that price can fall below the starting point. This is significant because it confirmed the depletion of sellers to the extent that basically not a seller could be found.
The early recovery of the September correction also looked very corrective in that it seemed very three wavish.
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