Chen Guilin’s Trading Notes: October 22, 2026 As mentioned in recent posts, most semiconductor stocks are currently in wave C of their ABC correction. Since the Nasdaq has been dominated by these stocks for over a year, it too is in wave C of its ABC correction. Key information is shown in the figure below (Figure 1). Thus, the logic is complete: semiconductors are in wave C correction, and the Nasdaq is following suit. Can Bitcoin rally independently? I find it very unlikely. The positive aspect is: semiconductors and the Nasdaq are in a large-scale wave C correction, while Bitcoin is in a correction following its first upward wave—and after this correction, another upward wave of similar magnitude is expected. (Figure 2) In terms of timing, I believe Bitcoin is already in the latter half of this correction phase. The correction will likely end by late October at the earliest, or by mid-November at the latest, after which a new trend-driven rally will begin. What you should do now: optimize your position during the final stage of this correction, and avoid frequent trading. Prevent the trading habits formed during sideways markets from carrying over into trend markets. For me personally, profits have always come from trend markets—not sideways ones. Finally: Ethereum is the true Bitcoin. (Figure 3)