After some slow overlappy price action; from previous analysis I had labeled the recent top at $24650 as a WXY correction completion and as Swing high which could push us much lower and start a new downtrend cycle. From the high we have developed a 5 wave leading diagonal structure where a ending diagonal wave 5 falling wedge pattern has formed notably tagging the 0.618 extension of waves 1-3 giving some validity to the move. This provides a good shorting oppurtunity upon confirmation of a corrective structure upwards into previous resistance; using a fib extension of wave A some potential levels for reversal can be found in conjunction with resistance areas which could provide good levels to short from.
Please like and follow for more Elliot Wave forecast !! :)
Please like and follow for more Elliot Wave forecast !! :)