We are at a critical level !
If price makes a clean move to the downside, we might be in wave 3 of 3, where we will see price just fall hard and news talk about a crash (I am not sure we are there yet, but it's possible). If it keeps on going higher tho, I will consider this whole move down as an ABC correction and we should see some higher prices (for now) maybe rangebound in the coming months).
If price makes a clean move to the downside, we might be in wave 3 of 3, where we will see price just fall hard and news talk about a crash (I am not sure we are there yet, but it's possible). If it keeps on going higher tho, I will consider this whole move down as an ABC correction and we should see some higher prices (for now) maybe rangebound in the coming months).
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Price went a bit higher as expected and turned at the 200EMA. Now we are in wave 4, where price should make a retracement down to the 38.2% level before going up again.
Invalidation level is at 2520.
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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.