BTC: Back to September openingprice (WXY-Correction)

Looking at the daily chart, you can see an series of lower highs and recent swing failure since the yearly high from july
If you connect the yearly high with recent swingfailure with the candle closes, you get an downtrendline

The trend is your friend, so i expect the price of bitcoin to continue down
The price-action of the swingfailure you could recognize as an small WXY-correction

Around the weekly close wave X could be finished around the 0.5 Fib or 0.618 Fib retracement
To project an wave Y, i expect it to end around the 1.0 Fib to 1.236 Time fib extension
And price-wise around the 1.0 Fib extension and 0.786 Fib/0.854 Fib retracement around the monthly opening of september
Then an small correction to the upside to the opening-price of october also around the monthly close of october

Kommentar:

Looking for a bearish retest of value area high after finding support on the point of control
Likely to be an WXY correction to the upside, little bearflag
After the weekly close expecting the move to continue down