Wave failure! What do we do now?

It happens. A lot. BTC will just fake you out. Clearly the price was not following a wave 3, or that wave 5 has finished which is unlikely. I think we haven't finished wave 2. That means that we probably just finished subwave B of wave 2, and we're going down to finish Wave C. That's possible because subwave B of Wave 2 did not go above the end of Wave 1.

I have to rechart to see what this looks like.

If you were wise, every time a subwave 1 started and a subwave 2 ended, you should have been increasing your stop loss price. Mine triggered.

What has happened to me before is that my stop loss triggers, but the price was a temporary dip and keeps going up again so I have to buy back in at a higher price. That's why you NEVER buy in unless it's at the start of a wave 1, or the end of a wave 2, so you know that if your stop loss triggers that the price is going down much lower than your stop loss price - not just a temporary red wick.

What now? I suggest while you try to figure out where the price is going, you set a stop buy order slightly below your stop loss price. That means that if the price of BTC rises again for some reason, you will end up buying your BTC back at lower than what you sold it at.

Then do a fib retracement to figure out where this price will retrace to. As the price goes lower and lower, keep changing your stop buy order lower and lower. Don't do a limit buy, because chances are it doesn't trigger or the price keeps going lower. The best bet is to put in a stop buy and keep lowering the price, watching to see how the price behaves against the fib retracement levels.