The bearflag is about to be broken. If BTC drops below 8200, it will likely fall down to 7800 and complete 5 waves of wave A. That means the correction is not over and could take the whole month of may, or even longer.
In an earlier post I already predicted a deep correction to scare off investors. A 50 - 78% correction is quite common for a wave 2 correction.
A bounce off this channel is also possible, but not very likely.
UPDATE: I have cast my SBD rungs (buy ladder) @ 1.75$ ,1.37$ and 1.00$.
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