Current Wave Progression:
Wave (5) is in progress, with the sub-waves (i), (ii), (iii) already formed.
The market seems to be in wave (iv), a minor corrective pullback before another rally toward wave (v).
Key Levels to Watch:
Resistance:
$3,150 - $3,180 → Possible target for wave (v) if the uptrend continues.
Support:
$3,100 → Key level to maintain bullish momentum.
$3,040 - $3,060 → Deeper pullback zone if wave (iv) extends further.
Trading Outlook
✅ Bullish Scenario:
If wave (iv) holds above $3,100, a continuation to $3,150 - $3,180 is likely.
A breakout above $3,140 confirms wave (v) progression.
⚠️ Bearish Risk:
A break below $3,100 could indicate a deeper correction.
Below $3,060, bullish momentum weakens.
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.
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.