Long term bearish pattern can be seen and also providing a nice opportunity for a short position. Target 1 is the estimation of where wave 3 will terminate followed by a counter trend of wave 4. Target 2 is the estimation of wave 5 if not lower.
Retracing wave 1 provides the ability to predict where wave 3 will terminate. Using this same system to estimate a wave 5 competition of target 1 and a target 2 at the 1.618 FIB retracement. TP @111.440
5 wave pattern almost complete. Possible bullish movements from this level, however, price could drop to from an 8 wave reversal pattern with an inverted head and shoulder pattern. Two possible targets if price drops.
Two impulse waves (A-B-C) followed by a three wave correction in a pole and descending wedge pattern. An expected 1-1 movement is possible but to be on the safe side a 1.618% Fibonacci retreacement was made measuring the impulse waves. TP is 68.3XXX
A three wave impulse pattern followed by a five wave correction has been completed. Price has the ability to slightly drop to retest the support or directly jump in a one-to-one movement to a TP at 74.XXX . Looking at the bigger timeframes, an inverse head & shoulder pattern is observed further indicating a bullish overall trend.