BTC's breakout above $56,000 invalidates my previous count, and this correction, which has been ongoing since March, seems to me more likely to go higher. Now think of it as 5 larger W4s, presented as an expanding flatness. $52,000 is weekly support, but a deeper pullback is possible within the blue box. The larger W2 and W4 also fit the principle of $BTC alternation. If the larger W4 is close to completion, then this cycle may not have much time left, but it also means that the upcoming market euphoria phase should start to heat up soon.
