As mentioned in our previous overview, there were 3 possible scenarios for market development.
As we can see, 4 days later, the price is in the correction. This is scenario 2.
This correction wave formed the new resistance level with the borders of $23,900 - $24,800.
After the correction comes to an end, the buying opportunity will appear. It may happen even today.
In this case the first target is that resistance, and if the market is strong, the price can move towards target #2 - the highs of June 7 - $31,965 - $31,400.
If the correction continues, the market can move towards the nearest Daily support - $20,800 - $21,220.
But the market is in the uptrend and we should look for buying opportunities.
As we can see, 4 days later, the price is in the correction. This is scenario 2.
This correction wave formed the new resistance level with the borders of $23,900 - $24,800.
After the correction comes to an end, the buying opportunity will appear. It may happen even today.
In this case the first target is that resistance, and if the market is strong, the price can move towards target #2 - the highs of June 7 - $31,965 - $31,400.
If the correction continues, the market can move towards the nearest Daily support - $20,800 - $21,220.
But the market is in the uptrend and we should look for buying opportunities.