This is similar to a coordinated dump that occurs in Crypto quite regularly. I still see some bullish signs when we bounced off at once from several important points of interest. We rebounded from the downtrend we broke last week, found some support there, and rebounded from the tendency to form the head and shoulders. It also coincided with the bottom of the 12-hour red cloud that found support.
This does not mean that we will not lose support again, so we need to be careful. This is a great idea about planning a 5-wave map, at the moment its mini-crash is just a little noise in our road map, and the goals and map are still the same as you can see in Elliott waves. I will be looking for some purchases between $ 9,100 and $ 9,600 USD at the moment. I still have a profit to play with trading 6800/11 400, so I can take a little risk here. The daily 50 EMA Line is right at $ 9,000, so we do not want to see a breakdown below $ 9,000 at the opening of a new daily. The gap there will see a free fall back down to a possible double bottom of the $ 6000 zone.
My goals remain the same, and I see this as an opportunity to improve the situation in our current trade.
This does not mean that we will not lose support again, so we need to be careful. This is a great idea about planning a 5-wave map, at the moment its mini-crash is just a little noise in our road map, and the goals and map are still the same as you can see in Elliott waves. I will be looking for some purchases between $ 9,100 and $ 9,600 USD at the moment. I still have a profit to play with trading 6800/11 400, so I can take a little risk here. The daily 50 EMA Line is right at $ 9,000, so we do not want to see a breakdown below $ 9,000 at the opening of a new daily. The gap there will see a free fall back down to a possible double bottom of the $ 6000 zone.
My goals remain the same, and I see this as an opportunity to improve the situation in our current trade.
You have very detail explanation with good calculation, specially you use MA like I do. For this situation I agree with you even I also use MACD to predict long term period but basically my analyze same with you. Because of that I try to stay calm and prepare my back up fund to pull the trigger at the right moment. Unfortunately, I don't use Elliot Waves to clean up little noise in my plan. Maybe next time I'll use it again and thank you very much.
