The near-term view is suggesting that the bigger correction against the all-time low unfolded as a double three structure where wave w ended at $0.0103 low, wave x bounce ended at $0.0453 high. While wave y ended at $0.0065 low and with that the correction against all-time lows ended in wave (II) pullback. Up from there, rally higher took place as 5 waves impulse structure where cycle degree wave I ended at $0.1844 high and made a pullback to correct the cycle from March 2020 lows within wave II. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((A)) ended at $0.0877 low. Wave ((B)) ended at $0.1767 high and wave ((C)) ended at $0.04385 level after reaching the blue box area. Near-term, as far as dips remain above $0.04385 low and more importantly above 0.0201 low then it can start the next cycle higher or do a big 3 wave bounce at least.
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