Chen Guilin's Trading Notes: October 22, 2026 In my post a few days ago, I mentioned that most semiconductor stocks are in the C wave of an ABC correction. The Nasdaq, which has been dominated by these stocks for over a year, is also in the C wave of its ABC correction. Key info is shown in the chart (Figure 1). So, here's the logical loop: semiconductors are in a C wave correction, the Nasdaq is following with its own C wave correction—can $BTC (Bitcoin) rise on its own? I think it's unlikely. The good news is: semiconductors and the Nasdaq are in a major C wave, while $BTC is just in a correction after its first wave of upward movement. After this correction, there’s still another wave of the same level of upward movement to come (Figure 2). As for timing, I believe $BTC is already in the latter half of this correction. If it’s fast, it could end by late October; if it takes longer, it should wrap up by mid-November at the latest, kicking off a new round of trending upward movement. What to do now: Optimize your positions during the end of this correction phase and avoid over-trading. This will help prevent the trading habits developed during a choppy market from carrying over into a trending market. After all, for me personally, all the profits this round have come from trending markets, not choppy ones. Lastly: Ethereum is the real Bitcoin (Figure 3).