Going down to the 107k-106k area does not cancel the structure, rather it is healthy & reaffirms the current correction structure that is approaching its end. There are a few more medium upward waves before finishing (corrections still exist).

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

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

The good news is, usually after the wave 3 peak, 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 impulse structure before we enter a major correction.

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

See you next time.

#WhaleJamesWynnWatch