The 5th wave should retest the long run support (green line) breached by the 3rd wave.
March bear, April bull.
March bear, April bull.
Note
First target reached at the yellow support line. I strongly expect the price to go lower into lower 7000s (even high 6000s), but now would be good place to set stops / take some profit.Note
White support line* not yellow in the previous comment.Note
Maintain short. Have not seen a capitulation in prices or retest of the lows yet. The white support moving average has been breached.
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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.