Well, this has been a clear example of the output that a Triangular Pattern in the middle of a downward movement can cause. Basically the continuation of the preceding movement.
The good news is that we have finally completed it and with its break we have also completed the descending wave number 4. Unfortunately we are in downtrend and now it is the turn to complete wave 5 which, effectively, will tend to repeat the previous bottom at least.
Frankly, I hope the $ 29,000 level is a good level to complete the fifth.
What awaits us next is perhaps a good recovery of the market towards $ 40 or 42000 but the correction will not be completed yet since for this to be fulfilled we must comply, at least, with a 5-3-5 type correction (ABC ) or also called ZIG-ZAG ...
Thus, I am setting a ladder of entry levels below 30K, progressive entries because what I expect is then 3 waves up as I said towards 40K again ...
Will see.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
@toofasteddie