Presently looking towards Two Scenario, either we have already completed a wave cycle on the impulsive side or we are still on the run for last leg of the cycle which give us wave 5.
Now let break them down so as to know the specific action to take.
Right now price is trapped inside a flag like structure which ranges between 9000$ and 12000$.
By virtue of this range a break above or below any of the range pave way for next direction.
If price break above 12k that signal and will trigger a formation with target pointed to 21k .
Moreover, a break below 9000$ will trigger a correction(BAT like pattern) which mean a completion of wave cycle in an uptrend direction then we go down with target pointing at 4350$.
Personal I took the side of the Bull with an attempt to long towards my Buy back zone on the chart with stop loss target towards break of 9000$.
I hope this little analysis will assist someone in making profitable decision.
Do remember to leave me likes to encourage me for more updates.
In addition to this we have potential ISHS in the making also.
Accumulate within the range.
Formation of flag in progress.
Expecting reversal from here or if we go more down maximum drop will not exceed 9400$-9300$.
Flag range remain same as 9000$-12000$
It remains valid so long and the price does not break below and invalidates the count. If it does break below then my expectation would be to complete a larger 3 wave ABC down and start the new 5 wave count up from there. Unless and until this count gets violated I'm sticking with it. A 1 hour view of the current price action from the same chart above. It is quite incredible how the waves keep hitting their marks. I'm not saying I'm always counting it correctly, but there is no denying the patterns keep repeating according to the numbers.
*** STOP LOSS (9.499.99)
God above all!