DeFi Index Completes Irregular Flat Correction; Bulls Back?

DeFi Index may have a completed irregular flat correction within an uptrend, which may cause another rally this year, according to Elliott wave theory.

Cryptocurrencies are recovering and DeFi Index is now bouncing back above EW channel, so a five-wave impulse into wave (C) of an irregular (A)(B)(C) flat correction in blue wave B can be finished. It means that a higher degree blue wave C can now be in play, which can rally this year all the way back to March 2024 highs. Is this the beginning of an ALTseason?

A basic bullish irregular flat correction is a three-wave (A-B-C) pattern where wave B exceeds the start of wave A and wave C dips below wave A before the overall bullish trend resumes.