📉 The drop off this year's secondary high is large enough and fast enough to suggest the downtrend began.
📊 On monthly charts, this is starting to have behavioral characteristics of an expanding triangle.
🔵 The blue dashes represent my "best guess" of action into summer.
📈 Using the monthly price evidence, an expanding triangle appears underway (just a little larger than previously expected), so I moved wave-a to this month's low with wave-b now forming.
📉 If correct, we'll see Bitcoin slowly break May's low with wave-c dropping a little more in price than wave-a (it should also take more time).
💡 Expanding patterns tell us most traders are bullish on Bitcoin and not expecting a decline.
