This is looking more like a nested wave1 the more I look at it. Can not find a bearish structure on this at all (also could be dangerous if you know what I mean).
Nested wave1 also known as wave1 extensions, see below. We completed the wave1 in purple then had a deep wave2 red back. The only issue I see is the red wave2 back was very deep.
We need to break that blue channel line and rest above it to add confidence in the call.
MK
#DYOR
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