Consolidation before capitulation marked in green box on both cycles.
Nota
Update, Since the prev. chart, 2 bottoms have formed which is seen on the previous cycle. The extension from the bottom is much more pronounced compared to the first cycle, along w the pull back.
Below is an updated chart of potential price action. Used a clone of the same time sequence as before, and made it make sense with the current price action we have.
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