Diagonal sub-5th, truncated meta-5th. Meta ABC incoming.

Unless this wave breaks upwards with conviction very soon, I think we are seeing the completion of the meta 1-5 in the form of a truncated 5th wave. We should see an abc correction as charted to the .38, .5, or .618 ranges. I've created an adjusted uptrend channel based on parallel confirmations and extended a segment down to account for the 6k low as I don't think our current uptrend line is sustainable or worthwhile for anything other than looking for short term bounces. I expect the abc correction to complete within my adjusted uptrend channel and at one of the relevent fib ranges (green triangle). We shall see.

Trade closed: target reached:

Target range reached around 8300 double bottoming with 4 via descending broadening wedge. Next target 11780.