This is a logarithmic projection of Bitcoin against USD called "EACO Trace", for the next All Time High of BTC (1,000,000 USD), where the price in its history moves in a bullish channel and tests its extremes with parabolic movements that are cut by a common secant formed by a range between the two parallel yellow lines, a secant that serves as a great support...
This time I analyze the deep correction of BTC under the Elliott waves. We can see that the correction is a compound wave or double combo (WXY) formed by two plane waves at the ends joined by a triangular wave. The last flat wave can be left with a fault in C and from there develop a new wave 5 in order to search for new highs.
