Short

Correction time?

Updated

Looks like we finished the wave 5. (last post)

I wonder if we do start the bigger correction now or do move back up from here and make new highs.

HTF Potential Target : 30K (0.382 fib)

Note

So far I'm still under the impression we are in wave 4 (looking at the subdivisions)
But its a really complex one and not getting the initial sell pressure I first expected.
we have not reached any significant fib level yet.

Note

It is looking corrective on the subdivisions but inside some kind of rising wedge/triangle. (not what I expected since wave 2 was not deep/short.)

Note

This looks more like it.
Overall the structure is not looking bearish and I do expect a break out to the upside soon.

Trade closed: target reached

We did get the big correction after all, right in the green box *Magic*

Younez

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