First of all, I want to say, that this scenario isn´t my primary scenario, on the other hand, it is entirely possible, that this secondary scenario will play out
There is my primary eliott wave count in which I am expecting long boring consolidation (wave 4) - the bottom should be set for a long time. Currently the sentiment is very bearish, the most people are in SHORT position, so I am not expecting downside move from current consolidation.
In this secondary scenario, we are currently in wave 4 - triangle - and we will go down soon, approximately to 20k -> that would mean, that trend has reversed. Then we should see some sort of 3-wavish pullback, which will be wave B and then the downtrend will continue and we should see wave C, which should definitely go below 20k.
There is my primary eliott wave count in which I am expecting long boring consolidation (wave 4) - the bottom should be set for a long time. Currently the sentiment is very bearish, the most people are in SHORT position, so I am not expecting downside move from current consolidation.
In this secondary scenario, we are currently in wave 4 - triangle - and we will go down soon, approximately to 20k -> that would mean, that trend has reversed. Then we should see some sort of 3-wavish pullback, which will be wave B and then the downtrend will continue and we should see wave C, which should definitely go below 20k.