is a reversal pattern. If the price breaks down below the lower line of the , then a correction is going to happen.
Targets for the correction are one of the yellow , and the Fibonacci support line.
The price will reverse at one of the targets, and then continue upward trend until the S2X fork happens on 16th of November.
There is also a divergence between the price and the , indicators.
Don't trade until you have the confirmation of price breaking down the .
If the price breaks upwards out of the , then the pattern is no longer valid.
1. 6058 eur
2. 5859 eur
Look closely for price revesal signals at those levels.
It's now trading in range, which means we're still not safe from another drop.
However, If the price manages to break 6700 eur resistance, that's a confirmation for our next target at 7100 eur.
The C wave could take the price down to 4200-4500 eur levels.
This market is full on bullish right now.
Target at 7180 eur is quite likely in this scenario (with a small and short correction before that).
This market still has no signs of weakness, but try to not be too greedy and lock in part of the profits here to reduce the risk if the market reverses.
If this continues to go up, next target and potential reversal zone is 7200-7280 EUR.