Bitcoin - huge crash changes everything!

Hello, everyone!

I was sure that the Elliott Waves structure is going to play out, I told you here that the last wave 5 is going to start. When the price broke down the $53000 level (Wave 1 top), this analysis was invalidated. To be honest I am the novice in trading chaos. I just need more practice in the Elliott Waves analysis. Let's turn back to classical trading methods in which I am professional.

First of all I want to remember you the last strongest bearish signal of classic TA which I gave here. I opened short at $65000, but unfortunately, closed at $56000 and executed long trade, which was unsuccessful. The long signal was given by trading chaos, while the classical analysis did not flash any bullish signs.

Now I want to introduce to you 2 indicators, which show the institutional activity. The first one - Modified Money Flow Index. The second - Big Guy. Let's look an the chart, whenever we saw the green zones on the MFI, at least the small pump followed after that. The Big Guy has the same signals. We can see that now both indicators told us that the institutional bought a lot at the current dump.

Pivots S1 and S2 for December month is going to be the strongest support and resistance for the further price action.
I want to see the accumulation with the range and the true divergence with MACD on the daily chart to execute long positions.

In the short term I anticipate the relief rally the the $50000 and the dump to $40-42k.

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