@JimmyLufton, I'm really hoping you are right. I missed the 6000 price.... I'm waiting it fall again in order to buy. In your analysis, what will be the new low low?
JimmyLufton
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@andrecalves82, Wave theory suggests we're in the 4th wave (up) and should get a 5th wave (down) - 5th wave is usually smaller than third wave, so it could either break 6k or form a double bottom - either move will suggest a change in trend and hopefully long term uptrend - we would then want to see a higher high as confirmation of uptrend - just my opinion from what i make of the chart an wave theroy is just a theory.
I wasn't sure if 3rd wave down had finished hence my previous bearish position
andrecalves82
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@JimmyLufton, Thanks for the reply. Interesting explanation.