in monthly time frame it seems the price has made a butterfly pattern at 1.27 extension of XA and 1.618 extension of BC and with the inverted hammer at this PRZ, there may be a big chance that our pattern is complete if for another month the close price of the next candle stays under the close price of this inverted hammer.
for price targets in short term we project the green trend from the end of butterfly pattern (14k) and for longer term the red one (7k)
for price targets in short term we project the green trend from the end of butterfly pattern (14k) and for longer term the red one (7k)
Note
as for AB wave, it has indeed retraced .62% of wave XA and it was going for a crab pattern NOT a butterflybut there is no divergence in MACD between the two points of X and D so i dont think price would mirror wave XA from point D but will go for a short term retrace and mirror wave BC of crab from point D in terms of price.
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