A smaller timeframe idea following from some recent ideas.
1.618 was hit so if this count is correct then we could be starting subwave 4 of 3 (or C); a break below $56,96 would invalidate this count.
If the $60 area is the end of wave C then there could be a big drop in price below $54,70:
If the $60 area is the end of wave 3 then there could be a 4th and 5th wave to new highs and continue a bullish wave towards $70:
1.618 was hit so if this count is correct then we could be starting subwave 4 of 3 (or C); a break below $56,96 would invalidate this count.
If the $60 area is the end of wave C then there could be a big drop in price below $54,70:
If the $60 area is the end of wave 3 then there could be a 4th and 5th wave to new highs and continue a bullish wave towards $70:
Comment:
Potentially bullish divergence on 1H, may have completed wave 4