BTC Price will 100% either go up, or down...

Previously I had said that there was a wave failure. But I take that back. It's still possible that we're on wave 3.

We might still be on a subwave 2 of wave 3 going to 10k (orange path).

Or we might not have finished the ABC subwaves of wave 2, and wave 2 is going down to $7900 (green path) or less - but no lower than $7200 which was the start of wave 1 (wave 2 cannot retrace below wave 1 start)

The only way to be certain is to watch for bounces and where it bounces.

If it bounces above the start of subwave 1 ($8250), then we're beginning subwave 3 of wave 3.

If it goes below the start of subwave 1, then we're on a subwave c of wave 2.

My advice going forward: I hope you had set your stop losses and are out right now. If you are, read on. As the price keeps dropping, I suggest you set up stop buy orders to buy back in if BTC price goes higher than your stop buy order. As long as your stop buy price is lower than your sell price, you'll always get more BTC because you've now bought it back cheaper. You'll also give yourself insurance in case BTC bounces back while you weren't watching it. Make sure you don't get greedy with with the stop buy order price - the goal is not just to get the cheapest price, but to make sure you aren't faked out. BTC can jump up $200 and then continue to drop down again. So make sure you give yourself some margin of error in case BTC price triggers your stop buy order and then continues going down.

This is why Elliot Wave is so useful. Even if you know pennants and flags and channels and MACD, they won't help you where to set stop losses and stop buy orders.