Hi everyone ....
it is sad to say that there is a H&S forming on the 4H chart, although i hope not but it is a possibility
the last leg of the ABCDE correction wave must be completed one way or another.
* Disclaimer: i am in the learning phase so don't this as financial advice.
we have 3 support structures here:
1- long term support line (sky blue)
2- basic support line (yellow)
3- 38% retrace line
we will watch how the price will react to that level (around 9500-9600) if it break down then we will be forming the last correction leg (E) in the major (ABCDE) correction
Disclaimer: do not take this as financial advice, i'am just learning :)
1- i see that we are starting to form the last part of the correction cycle
2- in green we are forming the wave number 1 of the long term Elliot wave
3- we could see 14000$ anytime soon before visiting 10000$ level (or we could break through and reverse)
i am just learning so don't take this as financial advice
possible three drives pattern on the daily chart, the price could go to 14400-14500 $ and then will go down from there, if it breaks then this pattern is invalid