SUMMARY
NANO/BTC completed an aggressive impulse (black) waves and is displaying a well formed descending wedge that can be labeled with abc (red) corrective waves. The retrace has been deep give that wae 5, while not very extended, was longer than the usual 1.5x of wave 1. However, the key question is: Could the bottom be in? This chart is from bitscreener as tradingview did not have the full scope of price history.
Here is where tradingview picks up; basically at the start of the descending wedge. It's been labeld and sublabled so that wave C can be seen to have five distinct subwaves. This corrective retrace is likely complete and the most ideal time to buy is at the terminal end of a correction. The trend reversing impulse was also very solid and decisive and now, the key is to see how the requisite retracement will look like.
I believe a likely pattern could be an abcde triangle. IF this remains correct, then the second round of impulse should begin at the completion of wave e. The white waves from e shows a projected price pathway.
As there are 36 possible corrective comginations, one can't rule out the standard abc correction and so the below is an alternate. However, the upside destination would remain little unchanged.
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