DeFi Index May Have A Completed Irregular Flat Correction; Bulls Back?
Cryptocurrencies are recovering and DeFi Index is now bouncing back above EW channel, so five-wave impulse into wave (C) of an irregular (A)(B)(C) flat correction in blue wave B can be finished, which means that higher degree blue wave C can be now in play, which can rally this year all the way back to March 2024 highs. Is this the beginning of an ALTseason?
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A basic bullish irregular flat correction is a three-wave (A-B-C) pattern where wave B exceeds the start of wave A and wave C dips below wave A before the overall bullish trend resumes.
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