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.
Eaw_Neowave
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@contact8787, Anything can happen.
it's not against the rules