This is just for reference, to try and extract some approximations as how to long the second correction will last.
The first one from March through August lasted 154 days, 22 bars.
➢ If we divide this number by 1.618, we get 95 days, 14 bars.
➢ If we divide this number by 2.618, we get 58 days, between 8-9 bars (weeks).
The market never moves straight down nor straight up. So in-between the red weeks we would get some green weeks but with a bearish bias. (I am going with number two for now, the shorter time duration for this correction.)
Once the bottom is hit, we will never see a new lower low until 2026.
We will have to wait and see of course but this can help us to build an idea. The correction would be similar across all major pairs. Only the smaller ones that already hit bottom and new All-Time Lows would follow different dynamics.
For example, some pairs are trading really low like Cardano (ADAUSDT) and today it only goes down a little bit, while the pairs that are high up like Binance Coin (BNBUSDT) are going down a lot. Bittensor (TAOUSDT) is one of the big pairs trading high up, it has lots of room to move lower.
Here we are looking at the correction dynamics, the support levels were visited in a previous publication.
Thank you for reading.
Namaste.