The last upwave was stronger than the most of us expected. (we've broken a 1.168 extention)
Now we have formed a perfect leading diagonal, which is wave 1 of a possible starting Elliott Wave.
Inside a diagonal, the perfect pattern would be 5 times an ABC wave, which i can easily construct.
Nevertheless, a retracement is highly possible now due to the fact that we are at the end of the leading diagonal, at the top of the red longterm resistance line and overbought for the second time.
The natural target would be 7250$.
Staying above the black support line at nearby 7450$ is possible too and would be very bullish.
IF we start an Elliott Wave, than the next targets would be 9500$ and 11000$.
DYOR
Now we have formed a perfect leading diagonal, which is wave 1 of a possible starting Elliott Wave.
Inside a diagonal, the perfect pattern would be 5 times an ABC wave, which i can easily construct.
Nevertheless, a retracement is highly possible now due to the fact that we are at the end of the leading diagonal, at the top of the red longterm resistance line and overbought for the second time.
The natural target would be 7250$.
Staying above the black support line at nearby 7450$ is possible too and would be very bullish.
IF we start an Elliott Wave, than the next targets would be 9500$ and 11000$.
DYOR