- - - - and now probably forming
After each new low, it had a swing up, then 61,8% retrace, then another logarithmically equal swing up ( ) testing the major downtrend line from ATH . All this was part of .
Based on this logic, we are now at the 61.8% retrace of the swing from new low which could create another swing with target to around $360 forming a this time. That would be the new top testing the . Here you have the best long term shorts entry and would be wise to close all longs available. It will start new major trend down, possible target around 125$, could go directly, or move forming another . Also, the has some interesting levels and cycles.
Decided to publish a pretty courageous scenario in this very environment at the moment, which fits well in the whole picture of the last 1 year and a half. I would avoid going long over 220$ in this region, I tried to long whenever the price was under 220, with stop los under 210, because in my oppinion breaking down the 210 level makes this scenario invalid.
Looking bullish, above trendline, breaking this region promises to get us to next high resistance area at 300-305, that could bring another consolidation there inside 280-300 range: