$TOTAL3 – I know many of you have been waiting for my Elliott Wave Count, so here it is. In a more bullish setting, I believe we’re currently in corrective wave 2 of a larger impulsive wave 3.

If Bitcoin breaks down in the coming days into the high-timeframe support range that acted as the reversal zone back in Nov–Dec 2024, this is how I expect TOTAL3 to play out.

I think this aligns well with my broader thesis: rate cuts starting to get priced in, bullish narratives picking up, and the Emotional Gap I’ve discussed in prior videos and threads.

This would mark the shift into a full-blown risk-on environment, with traditional markets entering a distribution phase, while liquidity rotates into risk assets, fueled by stronger investor appetite.

This also makes sense structurally: another short-term flush would clear out leveraged longs and trap bears betting on a deeper breakdown, which I don’t believe will happen durably.