I think EW are good as long as nothing fundamental changes. The moment something fundamental changed it blows the EW prediction out the gate. Lastest example is like you mentioned the BCC scam finally revealed.

I would also highly recommend people to have a bit more patience and hold from FOMO'ing in right now. I think the reason volume is declining is because even whales are not sure which way is the price going forward as it's probably a 50/50 chance going either way.

By EW rules the possibility of price going to a lower low get's invalidated only after we have passed the 12.8k mark.

If you still want to gamble than make sure you set your stop loss orders.