Why the Bitcoin's correction today is still healthy long term

After the parabolic move in BTC to take us to all time highs, it is definitely nice to see some major correcting overall. Wave 2 target is around 20k, that would be enough to satisfy a long term bullish move in the Bitcoin price overall. Unlike the bullish legs, I would like to see the corrective moves over a longer time frame, potentially days, if not weeks. This will signify more strength technically, instead of just whipsawing the Elliott waves.

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Copyright Rohan Karunaratne 2021