we will have mild price retracement with continuation of consolidation (time correction) because demand is greater than supply in market now.
HEALTHY MARKET NEEDS TO CORRECTION
Gold price is forming critical triangle and may breakout on either side. If the gold loose it's important support of 1930 It's probable that we get to 1830 and on the other way if it breaks the upper side we expect to reach the previous high of 2080.
as fibo retracement we expect at least 0.61 correctionin of XAUUSD price next target in short positon: 1782 1761 1744 1726
0.50 fibo correction is starting price drop till 7100$
After 3 months bears were able to break main trend line and start to main eth price correction below 200 $ for last time for ever. I think this last chance for buying below 200 $
we are wating for price droping to support line for rt shoulder formation then possibility of price jumping to resistance line.
i think it's last chance of bears for victory that push price to lowest in 2020
in HTF(daily & weekly ) we are seeing uptrend that supported by fundamental reasons (post halving and being economical for miners)but in LTF(4H,1H) market trend is not clear and downward movement is possible.we are watchful and waiting to start next market movement and will ride after starting it(do not estimate next movement of market).THIS IS SECRET OF MARKET...
BTC uptrend move failed after multiple attack to resistance line and now we expect to move down and attack to support line.
in this chart we seen that price touch the junction of both channel line and triangele floor then by the elliot wave strategy we predict upward wave(5) and price go up for touching the up channel line .
I think it's important ,first cme gap of previous contract filled by rising price to 9000,the major market maker start to selling their btc and big downtrend will be started after cme gap filling .after it we have significant price deceasing in day by whales game playing (they will start selling and buying at same time )and buy coins from market floor...
As the chart shows