The markets continue their drop as it looks like sub-Wave 4 is over. However, the shortness of the wave would indicate either a reversal of the usual 1-2/3-4 wave formation. Typically wave 1-2 is a shorter wave structure than 3-4, here in BTC and ETH we can see that 1-2 is unusually elongated. This would tell us that this wave structure is reversed or in the rare scenario, this is just 1-2 of an even longer 5 wave impulse of wave 3. Time will tell, but for the points of charting, we mark this as the completion of wave 3-4.
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We aren't a huge fan of this wave structure count to end Pink 3-4 here since ideally it should be as long or longer than 1-2 but still a valid count. If the pink 3-4 is instead a new subdivided 5 wave impulse, things are set to get really scary for HODL'ers as this would send the markets super low.
