Hey traders!
Expecting the price movement in 2 steps.
First I am expecting the correction to the levels within a range of 9350-9000 USD. Then a turn from the trend line or near it and a hike to the top completing the forth wave in the form of an ABCDE triangle into three designated zones.
At the moment it is impossible to predict the exact zone where it will end up.
Currently, the most optimal and possible scenario is the second zone.
After battling there, the calculated fifth wave will finish. However it could possibly finish in the first or third zone. It’s not possible to say now since the third one was more classical than the first, then the fifth wave does not govern us with its size.
It can be either normal, reduced or extended, we need to see a structure that isn’t there at the moment.
As soon as the formation of the fifth wave will happen the correction of the ABC wave will start, with a possible moment below 6000 USD.
At the moment, it is impossible to say what level will be a confirmation of the beginning of the correction, we need the confirmation of the fifth wave’s end.
Regarding the fourth scenario its too early to speak of it since its currently unlikely.
But nevertheless still possible, in my opinion, with an approximate correlation 80 - 20%.
It will happen if the major ascending trend line of the upstream channel will be broken below the level of 9,000 and it will break this calculation of the fifth-wave.
But I want to point out again, in my opinion this is unlikely :)
Peace and profits to everyone)
Expecting the price movement in 2 steps.
First I am expecting the correction to the levels within a range of 9350-9000 USD. Then a turn from the trend line or near it and a hike to the top completing the forth wave in the form of an ABCDE triangle into three designated zones.
At the moment it is impossible to predict the exact zone where it will end up.
Currently, the most optimal and possible scenario is the second zone.
After battling there, the calculated fifth wave will finish. However it could possibly finish in the first or third zone. It’s not possible to say now since the third one was more classical than the first, then the fifth wave does not govern us with its size.
It can be either normal, reduced or extended, we need to see a structure that isn’t there at the moment.
As soon as the formation of the fifth wave will happen the correction of the ABC wave will start, with a possible moment below 6000 USD.
At the moment, it is impossible to say what level will be a confirmation of the beginning of the correction, we need the confirmation of the fifth wave’s end.
Regarding the fourth scenario its too early to speak of it since its currently unlikely.
But nevertheless still possible, in my opinion, with an approximate correlation 80 - 20%.
It will happen if the major ascending trend line of the upstream channel will be broken below the level of 9,000 and it will break this calculation of the fifth-wave.
But I want to point out again, in my opinion this is unlikely :)
Peace and profits to everyone)
Trade closed: target reached