The 5 wave move up for wave 1 or A is an indication of bullish reversal in the trend, this might be just temporary but if not, we will see a big rally.
We have to now if we are in an ABC correction or Impulsive move up.
For now look at 4600 as first target then 5300 for a potential wave 3 or C.
After that we will have a look at the charts again.
This wave count gets invalidated if price goes below 3120.
We have to now if we are in an ABC correction or Impulsive move up.
For now look at 4600 as first target then 5300 for a potential wave 3 or C.
After that we will have a look at the charts again.
This wave count gets invalidated if price goes below 3120.
Note
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Note
Price going up Note
We should see price go down to 3500 before going up again.
The invalidation level is at the last low, 3120.
If it breaks, we'll see even lower prices.
For now, wait for correction to end near the 61.8% retracement and then start buying up to 4500 as first target.
Note
We are seeing some nice fall in cryptos, get ready to buyNote
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Don't forget to like, share and follow !
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Related publications
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.