On breaking wave 1 low of 16782 with a gap, I think it's a start of wave 3, which indicates carnage for the next 2-3 weeks.
I hope it stops soon and it's the alternate count that's playing out.
NIFTY chart looks like is completing✅ Wave 1 of the cycle started in 1991, next wave 2 down ↘️
If wave count is correct, then short-term looks bearish, suggesting index correcting to levels between 10-12k (levels will be updated as we get more clarity).
By short-term, I mean maybe 1-2 years or even more, as wave 1 was 20 years long.
But after the short-term...
Against all the FUD & the crash a few days ago, I believe Bitcoin is headed much higher with wave 3 coming up next.
Not financial advice, please do your own research
