Wave 1 as Leading Diagonal

I think it’s worth bearing in mind that we could see some significant downside during the lull at the end of Q1. Red for Valantines, Green for St Patrick’s.

This shows how we may never have transitioned into wave 2, but may actually be about to finish wave 1 as a leading diagonal.

We could be looking at wave 2 as a running/expanding flat, in which case we see a significant rally, but something is niggling at me about this.

Watch the break of the high at $3.39, I’ll be looking at the 4hr RSI to see if there’s divergence. A close above with that divergence will possibly spell more downside than just a subwave correction.