Over this 4hr chart we can see a potential Elliot wave pattern. For this to be confirmed, first it should break above the 1.272 fibb level and then reach the 1.618 level. After those two scenarios, expect a correction. Elliot wave pattern are fractal which means this might repeat on higher timeframe once it succeed to reach the 1.618 fibb level thus making this wave 1 on daily timeframe.