9100K pump yesterday was a fake breakout and at the same time it confirmed our DOUBLE resistance (top channel and top wedge).
If we see from November to mid-December there is an ABC correction. Then it immediately formed the first 3 waves of the elliot waves, it's likely that we will soon enter the 4th wave.
Now the chart has already breakdown the rising wedge pattern that i drew on my previous posted analysis.
RSI also clearly formed double top pattern.
When we finally close daily chart below 8570, then:
1. We'll go to 8249 support and meet 200 EMA there
2. Bounce for a resistance test at 8570
3. If it confirm the resistance, then we'll go for third test downward bottom our uptrend channel. (7600-7700)
If you like my analysis please leave a like, follow, and share.
Don't forget to analyze and research yourself, happy trading and always secure your capital🙏✌️
If we see from November to mid-December there is an ABC correction. Then it immediately formed the first 3 waves of the elliot waves, it's likely that we will soon enter the 4th wave.
Now the chart has already breakdown the rising wedge pattern that i drew on my previous posted analysis.
RSI also clearly formed double top pattern.
When we finally close daily chart below 8570, then:
1. We'll go to 8249 support and meet 200 EMA there
2. Bounce for a resistance test at 8570
3. If it confirm the resistance, then we'll go for third test downward bottom our uptrend channel. (7600-7700)
If you like my analysis please leave a like, follow, and share.
Don't forget to analyze and research yourself, happy trading and always secure your capital🙏✌️
We are forming leading diagonal now, where the 4th wave is still valid even though it overlapping the first wave.