This is my wave count which I think is currently the most probable.
We have a diagonal wave 5 forming, indicating that the whole impulse is coming to an end.
If bulls are to weak we may won't even achieve the last wave C to test resistance.
Declining Volume and bearish divergence on RSI & Stoch RSI on daily Chart
Expecting a correction to at least 50 if not 61.8 fibo to test support line.
After that we'll have to see if bullish trend continues or further drops to test 3k lows progress.
Idea is invalid if upper resistance is broken.
We have a diagonal wave 5 forming, indicating that the whole impulse is coming to an end.
If bulls are to weak we may won't even achieve the last wave C to test resistance.
Declining Volume and bearish divergence on RSI & Stoch RSI on daily Chart
Expecting a correction to at least 50 if not 61.8 fibo to test support line.
After that we'll have to see if bullish trend continues or further drops to test 3k lows progress.
Idea is invalid if upper resistance is broken.
Note
trendline broken, last C wave most likely won't happen anymoreNote
got nothing more to sayif upper resistance line is broken prepare to fomo into this parabola, 20k incoming
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.