This analysis is meant to make investors and traders aware that from Monday or Tuesday onwards there could be a significant retracement of the price.
There is still time to go up (best case scenario), but the monthly time frame is starting to run out.
From Monday/Tuesday onwards there will be 7 days to keep going up (16%) versus 37 days to go down (84%).
The strength of the retracement will have to be monitored over time.
Although it is the least likely possibility, we can not exclude a return of the price around 50 dollars, it is too early to consider terminated the multi year downtrend.
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Analysis correct: according to it we have had a new upward wave that pushed the price back down. A low swing has been created at 53.56.
If this is broken within the next 2/3 days, we will see again the price going down at least till end of the week.
A check point for the raise is the price level at 56,72 dollars.