The BTC rate dropped below $58,000 and is testing the volume and mirror level of $57,709. The good news is that there is more certainty - with the breakout of $58,088, it became clear that the alternative (and not a priority for us) version of the wave pattern, where there was no high of the fifth wave yet, can be discarded.
For the last time, we leave the five-wave pattern on the chart as it was predicted on September 10, so that we can compare "was/became", in the following posts we will update the lows and highs.
For now, we can say that the ABC correction is already in effect. In the optimistic version for the bulls, yesterday at $60,395, the high of wave B was set. And now wave C has started. But there is a possibility that there has been no rebound yet. We are not ready to speak for sure here yet. But if there was no rebound in wave B yet, support at $57,709 would be ideal for the low of wave A. Let's repeat what was said - the optimal target for the correction that has begun in case of continued growth after it is now the volume level of $56,361. The 0.5 Fibonacci level from the low of September 6 to the high of September 13 passes next to it. A fall below is undesirable for the uptrend, consolidation below the volume level of $55,059 is a signal of a probable trend break.
