BTCUSD: Deep 4 or a shallow 2?The recent crash has everyone running for the hills. People forget Bitcoin is not up everyday and it also doesn't stay down forever. With the amount of selling, it is time for a bounce in the upcoming week or two. At that time, we need to see if the bounce happens in 3 waves or 5. If we see a 3 waves move, then the selling will most likely get more intense. For an intermediate degree wave 2, price needs to correct everything since Nov 2022 low at 15.6k. That is a massive distance to cover. Just minimum .764 retrace will take the price down to below 70 k and .618 retrace will take it at 50 k. At this price level, I am still not calling wave 2. Even it looks quite deep and steep for wave 4, it is not unheard of. So, until 73 k breaks, i am keeping my count, but the top target will come down between 118k - 136k. Let's see how things progress in the next few weeks.