I have charted based on Elliot's Theory on the Daily timeframe and we are in the Wave 5. If we zoom in to the 4H, we can see the micro Wave 1 and 2 completed and in the early of Wave 3. Elliot's rules were applied in the micro Wave 1 and 2 which gives us very strong confidence this is a Wave 3.
Comment:
Go Long once there is a bullish candle sitting on top of the 50216 price and TP before 54657. SL 45775
Comment:
The reason for 50216 price entry is the psychological ceiling price of 50k, once there is a bullish candle sitting on top of 50k, we can have strong support.
Comment:
3 white soldiers confirmed, a very bullish candle
Comment:
4H candle will close in 5 minutes, possibility of resistance below orange dotted line and crossing the line after the next 4H candle close.