Did S&P 500 just put in 5 waves off the 4600 high?
Maybe. But I'm not so sure. This structure gets into very debatable rule interpretations. So more price action is needed to confirm 1 way or another.
The fact remains:
-5 waves off the 4600 high, red scenario triggers, targeting 3000 or below (BAD for Bitcoin!).
-3 waves down from 4600, green scenario is still the goto, targeting 5k near spring. (GOOD for Bitcoin NOW!).
In a printed money economy, everything is connected.