Going down to the 107k-106k area does not negate the structure but rather confirms the current correction structure which is approaching its end. There are still a few more medium waves up before finishing (there will still be corrections).

Later we still need to confirm whether this wave 4 correction is truly finished or if there will be additional corrections. If later validated, the arrival of wave five in a small timeframe (in other terms; subwave 5 in wave three or in wave analysis language, this is wave 5 in the fifth subwave of the large wave three), then the wave will resemble what is seen in this photo.
Because in this photo, it is likely wave three in wave 5 medium on the large wave 3 (possibly not finished as it is divided into 1,2,3,4,5, and its duration takes more than a month since 74.6k).

Therefore, the small wave five may not be as strong & long as wave three. But within it is also divided into 1,2,3,4,5
1 early rise
2 correction within
3 strong & long rise
4 shallow correction
5 remaining rise.

The good news is that usually after the peak of wave 3, investors switch to altcoins in this session.

Although it will not be as strong & long as wave 3 or the rise from 74.6k-111,980, which is divided into 5 within it [1,2,3,4,5], because usually wave 5 is the remainder of the rise to close the upward impulsive structure before we enter a major correction.

Do not easily sell cheap at the beginning because the peak is usually at the 3rd/5th.

See you next time.

#WhaleJamesWynnWatch