So it appears we have started sub-subwave 3 of subwave 5 of wave 5. We may still be on sub-subwave 2 though.
I believe we are on sub-subwave 3 for these reasons:
1. The sharp drop in the direction of the motive wave (down) implies the start of an impulse wave
2. Sub-subwave 2 is sufficiently long compared to other sub-subwaves in other subwaves
We will know shortly. If we are still on sub-subwave 2, the price should now creep up higher than $6800 to complete the wave. But if the wave drops and keeps going down then it is confirmed on sub-subwave 3.
If we're on sub-subwave 3, then the length of this wave is important:
1. Same length as sub-subwave 1: that implies sub-subwave 5 would be the longest
2. shorter than sub-subwave 1: that means sub-subwave 5 will be the shorter than sub-subwave 3 (best case scenario)
3. longer than sub-subwave 1: that gives sub-subwave 5 freedom to be any length (worst case scenario - unpredictable)
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