SUMMARY
FunFair (FUN/BTC) has placed a classic impulse of five waves up. Elliott Waves states that after five waves, there is a requisite retracement. Thus far, pattern and Waves have further developed so that the red abcde waves could signal the completion of a long correction. IF the E wave has one more lower low to put in, that would provide the needed proximity to the Apex.
The Fibonacci chart shows that the 0.78 level intersects the wave E level. Would this probably mean a bit further weakness in Bitcoin? Well, yes, since the minor correction has been ongoing. All corrections end and so shall this and it usually ends in a breakout. But first, let's finish the correction.
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