According to the Elliott Wave Theory, corrections typically consist of three waves: A, B, and C. Wave C is the final corrective wave, usually bearish and ends the correction.
Looking at the current Bitcoin chart, it appears that the price has completed wave C of the correction, indicating that the correction may have ended and a new bullish impulse wave may have begun. However, key technical levels should be monitored to confirm this scenario.
It is also important to consider other corrective wave patterns, such as the Double Zigzag, as the zigzag pattern may repeat twice before the correction ends. Therefore, you should pay attention to any signs that indicate a continuation of the correction or a reversal of the trend.
Finally, it is always advisable to follow up on recent technical analysis, monitor the price action, and ensure that there are confirmations before making any trading decisions.
