If we take this point for our we will see 11k bounce first wave at %50 retracement.
If it is our last leg of EW (5th) it is sitting on %61.8 and going to start correction which will going to $10700.
IF this chart not correct, our 5th leg could easly touch purple dashed intersection point which is $6700.
Circled ares show us our bottoms to go up.
Ichimoku clouds shows we are at the bottom that will go up from there, i saw this happen many times with alt coins. But sometimes we could go inside that cloud. And it will not good for current situation.
This timeframe tells us we are going to pass under clouds.
Circled bottom area has more room to go down (little)
Circled bottom shows we have enough room to go up again, but how far is that?
1 circled area could give idea that we are not going up too much, and we could touch Ichimoku red area (we can go through it, this is possible breakout area) and go down again.
As you see we are at under Ichimoku clouds, we could expect smilar movement becoz circled areas with Ichimoku clouds could act same.
Ichimoku clouds shows us we have strong pressure to down, we could go $7200-$6700 levels (which is current Support 3) and it could push us to up to inside of clouds. which is 10kish our ABC correction area.