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In order to be a true leading diagonal structure we would look for:
Clear 5-wave wedge completion
Weak breakout with no strong follow-through
Then a deep retrace (FIB 0.618–0.786)
The fact is that #BTC is currently a parallel channel
EVEN IF this is a Leading diagonal OR impulse of some sort THEN we should expect a deep retracement. So even if its an impulse higher, we should be able to short and protect before the next $BTC move higher