I would love to hear the answer to this also! I am a "noob" but this clearly looks like a wave 5 to me (with a "shooting star" candle at top)- In the Elliott Waves book it says that when you have an extended 5th wave, the 5th wave within the 5th wave can be extended also, this looks like whats happening to me- but I am brand new! Haejin?
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I am just looking in the book now. If it is an extended 5th wave, it says the following: "Extended 5th waves, truncated 5ths and ending diagonals(I am still learning those latter two) all imply the same thing- dramatic reversal ahead" . I will be curious to see how this plays out and good luck if you are an investor...I will add that this actually also happened on WTC yesterday..And like an ass I rushed in on the 5th (with only a little laddering) and it is correcting now as we speak...
SO this is how we learn..Because of the "news" of masternodes I jumped in, (fear and greed, I shake my head everytime it happens to me, lol)...But the TA leads over the news, right Haejin?...After jumping in and watching it fall like a mofo, it lead me back to the book..