Great explanations. Here's my take, I think we're in a big ABC correction. Would love to hear your thoughts on my prediction:
IMPORTANT COIN UPDATES - BTC, XVG, TRON — Steemit https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-xvg-tron
Your wave 3 labelling is 100% incorrect, because of only 3 waves. But you know that it does not really matter much, because it is not about the impulse waves, but about the correction.
Yes I think it is an ABC as well. This ema could work as a short term support, but I doubt that it will end the downtrend instantly.