-We have a pennant forming in the 1H chart (which mean continuation of the previous trend prior to the pennant).
-We have probably a HS forming in the 4H (which means revarsal).
-And we need to test the 6k area in the weekly.
1. Descending wedge which generally break up.
2. We have a support area that's been holding for 10 months.
3. We got a divergence on both the MACD and the RSI.
4. Profit targets are on the chart.
We can either go long now or wait for the breakout and entre when we retest the resistance of the wedge.
Here's my previous elliot wave if you didn't see it which played like a charm.
Now we are in the corrective wave, who will lead us to the 4.5k area in the short term.
First resistance will be at 4.3K.
Second resistance will be at 4.7k.