Breakdown of wave 5 as follows... adjusted the top of wave 4 (values remain same)
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Going as planned...update on status
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Wave 2 of 5 is about to end....about to turn down any time now...
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P.S. Stop Loss on the edge of light purple channel...if in some weird world we get out of it then the theory is down...hardly doubt it myself tho!
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Just a quick update on the matter...as predicted we went down...went on a first try to breakout under the yellow zone....there are a couple of FIB retracements from previous waves on that 8250ish value...if we break it and close candles under we are sure to be in take profit zone soon after...
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Broke the 8250$ level....downfall ON...
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Take a safe bet and get out at the big RED trendline at cca. 7700... At that point we'll reconsider the further points and trends.
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I'm about to call it another "play it safe" scenario and get out of short at current levels. There will be a bounce of soon...first bounce was on ppl gettin their profits. I'm keeping watch on multiple scenarios from this point on but with a general call its a BEAR trend market.
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Popped out of triangle and i assume we are heading on our way to point 4.... exact movement pattern and where point point 4 will is to be determined...time value will most probably be extended to future...
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Excuse me for not updating the trade as due to business obligations....if you entered your long term shorts at the begining everything is goin good for ya.... I'm constantly adjusting my theories on daily traiding charts and adjusting the Big Wave 5 breakdown...i'll update the shorter time period trades on the following week so check in if you wish to :)
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Currently I'm calling it a 4.8k dropdown....We are gonna have a battle to break the support trendline and 6k previous low at the end of the current week and maybe the one following it.
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My Theoy showned on the chart..the peak of the triangle made pressure on the market and it had to pop somewhere....this scenario covers the area up untill 8400$