I'm targeting a 1:1 of the 1st wave down to reach wave 3, at the moment it's moving sideways, however, this is due to the .
The 5th wave down is targeted at 1.618 Fibonacci extensions of wave 1; this travels just past the 0.618 Fibonacci retracements of the 5 step impulse wave up. This is the golden ratio where the price likes to drop to as many traders use this level. Between these levels is the support of wave 2 which adds even more strength to this zone
Long term I remain as if it corrects this far, 0.618 is a normal correction and an impulsive wave up may be next. Up to 13400 USD (From a 1:1 extension of wave 1, as wave 3 is often the longest and never the shortest) and after a correction, a move to 17000 USD is definitely possible.
Of course, the flag may not break and if the price goes above 9750 USD with the I would discount this play and the count will be more plausible.
If you want to know the shorts I'm playing, let me know :)
PEACE, LOVE & CRYPTO