Technical analysis by limitlessroh about Symbol BTC on 1/4/2024

BTC current wave analysis (update 1/4/2024)-To complete an impulse from 15K, there must be at least three more ups and downs between 40K-48K to finish wave 1.-Because the wave from 32.5K cannot be counted as an impulse, I expect an ending diagonal.-32.5K is the starting point of the current ending diagonal because of the correction size between 35K-32.5K, which happened Oct 23rd.-To be an impulse wave, there should've been an impulse or a wedge between 35K-32.5K correction and the next bigger correction.-The next bigger correction was 38K-35K from Nov 9 to Nov 14.-The wave between 38K-35K correction and 35K-32.5K correction cannot be counted as an impulse.-This leads to the conclusion that the wave is wedge-ing.-Wedge B is always the biggest & fastest wave within the wedge.-My initial expectation was the pink wedge on the left chart.-The current -12% drop on Jan 3rd is the biggest correction so far since the 35K-32.5K correction, being eligible for Wedge B.-This correction(purple B) also bounced off at the Fib 0.618 level of 32.5K-45.9K(purple A) run.-I will trade based on this scenario as long as BTC doesn't break below 32.5K.