If wave-1 turns out to be or is believed to be the longest wave in the sequence the second
wave cannot retrace mush more than 38.2% of the first wave. If the first wave is not longest wave the lowest
point of wave-2 can retrace as much as 99% of wave-1.
This does not look like a typical 5 wave Fib extension since the retracement has gone to low. To me this looks like a full market cycle has occurred, a descending wedge has formed and consolidation is now occurring. Which indicates a healthy future for this coin. Expecting once bitcoin makes a move, this guy will follow with enthusiasm, especially if we start to get a rounded bottom formation.