If you are an Elliotitian, everything is clear. If you arent, no worries, there is yellow path which means bottom is most likely in. Red path says that there is more pain to come. Bare in mind that this is a log scale and that linear scale looks much more scary when it comes to a huge drop of this asset.
One of the support areas that should be considered is previous macro wave 4. If you want to long this now, cant blame you, put a propper stop loss. now it will be a tight and a good one. Still uncertain about this. i cant see a proper developing motive wave on the current todays PA Stay safe.
Great analysis. Until something fundamentally says otherwise I am leaning towards the red path but am giving the bulls some credence so as to not feel too deterministic.
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@Bs_215, Thank you! I am really 50:50 when it comes to whole crypto space. Most of the coins are signaling potential bottom... Yet , equally, i see more lows.