MATIC/BTC in a five wave structure

Price has made significant bullish rally lately. Looking at the patterns of the movement we can see that those can easily be defined as waves in the Elliot wave theory. The price made the first bullish rally, defined as wave 1 in the five wave structure. This is an impulsive wave which means that a correction in the other direction should be the next wave. That has also happened, after the first correction we can see motive wave 3 and another correction 4. Now we are waiting for the last impulsive bullish wave in the five wave structure, wave 5. We believe that the next moves should be bullish.


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