I was originally hoping this was a WXY completed pattern, but I'm only seeing a 3 swing move to create another Wave A instead of a 5 swing indicative of an impulse move. Because of this I'm thinking we're beginning Wave C of X2 of a WXYXZ pattern. This is in line with what I believe will occur for BTC as well. We'll be looking for a 1:1 here compared to the Wave A of X2. It will ultimately come down to finish the Wave Z (larger Wave 4) and we'll look for a 5 wave impulse to start of Wave 5 of the macro count.
Also, you can see bearish divergence on this 1H chart for this current move.
Here's the macro. If this plays out, I'll be looking for a 3.50 - 3.60 conservative target
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Looking good so far. Hidden Bullish divergence on the recent lows. This range will be challenging if it makes it there. It is the .618-.65 retracement of the recent move down for Wave Y
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Because of the look of BTC and the current movement, it's looking more like this:
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