By examining the state of the trend over four hours and using Elliott's wave theory, by describing the descending waves formed, the descending movement from the ceiling of May 5 to the floor of May 16 has been completed.
With the rise that has been created from this flooring range, the market has continued to grow in price with support in the price range and a good time.
Due to the creation of higher ceilings and floors, growth should continue to be expected, because the momentum of purchase is still increasing.
The range 1857-1866 is a key area for price growth (I mean stability above it), and if it fails, one can hope for the 1892 targets at 50% Fibonacci from April 18 to May 16 and 1917 at 61.8% Fibonacci.
With the rise that has been created from this flooring range, the market has continued to grow in price with support in the price range and a good time.
Due to the creation of higher ceilings and floors, growth should continue to be expected, because the momentum of purchase is still increasing.
The range 1857-1866 is a key area for price growth (I mean stability above it), and if it fails, one can hope for the 1892 targets at 50% Fibonacci from April 18 to May 16 and 1917 at 61.8% Fibonacci.
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