![](https://cdn.steemitimages.com/DQmWrPFeCfDxp34gRvLzwyLJUMHHdysh112HjNFwXrExaBt/image.png)

We're going down and that's good news because the wave 4 triangle scenario is now of the charts, meaning when this correction ends, assuming we're not going crazy down, wave 2 ends and wave 3 will be ready to take us to new all time highs.

The Mayer multiple is approaching 1 which means prices are approaching the daily 200 moving average. 

![](https://cdn.steemitimages.com/DQmPPxT5beqh5KuoxNXmaz9ZstRixz1tUFLpCTpAxEcpCt9/image.png)

Where is this move going to end? Impossible to say. There is support at $7250 where the 61.8% Fibonacci level should provide some support. But who knows?

Prices just dropped 300$ while writing this. Nonetheless, I added a call to my March 2020 options position as this can turn equally rapid as it falls. 

![](https://cdn.steemitimages.com/DQmPMirTMKCrtzAvbesgHvthFNAGnBHY6U84zAes67rJQpY/image.png)
![](https://cdn.steemitimages.com/DQmQz8v66DFnc6A8tqWGMZed9v7LvmCCKLWp7sDnt26k287/image.png)
![](https://cdn.steemitimages.com/DQmRWTpGq7kGYvjJtzRbWSzQH9xnDKpmybYZftzCviN2JUz/image.png)

Stochastics are by now oversold on the weekly, daily and 8 hour

![](https://cdn.steemitimages.com/DQmf3HVKQxWgFuii2hq6khcET16EY324wPf7Tab3FV6wMvy/image.png)

MACD's are diverging for now.

![](https://cdn.steemitimages.com/DQmNW4NqTHgzXEtbUBUFGicJ43y6pn8bmJ8PhHGBP4FZDag/image.png)

Renko chart also making a big drop today.