DJI looks to be working on a wave (iii) impulse pattern lower. The current rally appears to be wave ii of (iii). The rally is nearly over and is expected to hold below the wave (ii) high of $28,364.Initial target is in the $22,000-$24,000 range. Depending on the structure of the fall, lower levels are in sight such as the March 2020 low of $18,213 and $15,503 (2016 low).
This will likely drag crypto lower with it and the US Dollar stands to advance.
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Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
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.