From the technical side, what do we have:
1. Divergences on CMF, RSI on the daily timeframe. The price is decreasing, and the MFI is growing, so there are buy-off purchases. We also keep the level of some. We are on EMA500
2. On the weekly chart, MFI also doubles the trend, but the rebound may be from EMA200, it is lower. With some further decline, a hidden divergence may be formed.
3. From the point of view of wave analysis, it could be like wave B within the Expanded Flat, then wave C should be 168% of A. BUT this is min value, it can be and 268%, but the value of the distance below the horizontal level of 61.8% - so we get 1842.
4. Buy now is risky, it is not known what index to the end, and what the decision of the fed (I am writing this text before the FED decision is made).
5. It would be better to wait for the divergence in the week for RSI, the MFI penetration level 0 on the daily timeframe, the higher-2208, as a reference point.
1. Divergences on CMF, RSI on the daily timeframe. The price is decreasing, and the MFI is growing, so there are buy-off purchases. We also keep the level of some. We are on EMA500
2. On the weekly chart, MFI also doubles the trend, but the rebound may be from EMA200, it is lower. With some further decline, a hidden divergence may be formed.
3. From the point of view of wave analysis, it could be like wave B within the Expanded Flat, then wave C should be 168% of A. BUT this is min value, it can be and 268%, but the value of the distance below the horizontal level of 61.8% - so we get 1842.
4. Buy now is risky, it is not known what index to the end, and what the decision of the fed (I am writing this text before the FED decision is made).
5. It would be better to wait for the divergence in the week for RSI, the MFI penetration level 0 on the daily timeframe, the higher-2208, as a reference point.