This analysis is only a personal analysis (Update 14)
Analytical tools:
1. Elliott Wave Counting 2. Parallel Channeling 3. Price Action (Step Power)
Notes
1. The downward step is a strong and powerful step, so the necessary power to move absolutely upward is taken from it. There is no expectation of a return and upward trend in the medium term.
2. Despite Elliott's easy counting appearance of this wave, but in its microwaves, there are points that can be considered as a wave of a zigzag and as a wave 1 of a large five waves of falling
Given the fact that we are still in a state of correction (the wave is falling sharply and there is no sign of weakening the trend at the end of the wave) we
Branch B or wave 2 that is likely to form in the near future:
Combining the supply and demand area in Price Action with the Elliott wave count as well as the midline of our channel, we reach the first orange area in the range of 50,000 to 51,000, where there is much room for reflection and further study to approach the end areas of correction.
In the end, in this analysis, as many cases as possible are examined and there is no certainty in doing or not doing something.
Analytical tools:
1. Elliott Wave Counting 2. Parallel Channeling 3. Price Action (Step Power)
Notes
1. The downward step is a strong and powerful step, so the necessary power to move absolutely upward is taken from it. There is no expectation of a return and upward trend in the medium term.
2. Despite Elliott's easy counting appearance of this wave, but in its microwaves, there are points that can be considered as a wave of a zigzag and as a wave 1 of a large five waves of falling
Given the fact that we are still in a state of correction (the wave is falling sharply and there is no sign of weakening the trend at the end of the wave) we
Branch B or wave 2 that is likely to form in the near future:
Combining the supply and demand area in Price Action with the Elliott wave count as well as the midline of our channel, we reach the first orange area in the range of 50,000 to 51,000, where there is much room for reflection and further study to approach the end areas of correction.
In the end, in this analysis, as many cases as possible are examined and there is no certainty in doing or not doing something.