You have really done well in your explainations. You used the Elliot wave pattern to explain the market psychology which is correct and I believe this article below will add a little more to the Elliot wave pattern.

https://steemit.com/hive-108451/@pocoloco01/basics-to-trade-cryptocurrencies-correctly-part-1-crypto-academy-s6w1-homework-post-for-professor-nane15