Labeling a completed intermediate wave 1, with an intermediate wave 2 correction underway. Wave 2 corrections are commonly deep. Forecast is still on point with action in ADA. The 50% retracement was tagged this morning at .086 at our top range. The circle shows the predicted reversal range, within the prior consolidation after wave 2 right along the 50% and 61.8% retracement levels. Reversals and other significant patterns commonly form in Fibonacci ratios. Still looks like we may bottom in the .07 to .08 range. Working thesis is an ongoing correction within wave C of a zig-zag that is likely to bottom soon.
Not financial advice, but I would speculate that this is a good zone to begin dollar cost averaging if one were bullish and looking to accumulate.