IMHO understanding this structure is critically important to understanding whether the alt-market is or isn't likely to outperform BTC (by market cap) in the foreseeable future. It is therefore foundational to my trading risk management strategy.
This wave-count has the entire structure as a fully-compliant 3-3-3-3-3 leading expanding diagonal (see rules provided). Zooming out to the macro (2 year+) picture, this structure may either form:
(a) The 'A' leg of a larger ABC correction (macro ) *or*
(b) The '1' leg of a larger 1-2-3-4-5 impulse (macro )
For now this structure provides a high-degree of confidence that alt-cap is in an up-trend against BTC cap over the medium-term (1 year+). The invalidation threshold for this posture is 0.48.