It's my technical analysis about Elliott waves. I believe that correction is going happen, however we can see a bearish divergence confirmation in MACD. It's noticeable that maybe fifth wave of impulse waves has not created though and this upward movement can belong to wave B of ABC correction (ABC) that has been creating after third wave of impulse waves (RED line) and we can see downward movement as wave (C) after wave B
so we are still in 4th wave which it's first corrective wave (A) has finished and target could be around 6000$. as a consequence, I think the 4th wave hasn't finished yet! It's my view
Disclaimer!
This post is a personal analysis for my educational purpose so doesn't provide financial advice at all. please do your own research. You must be responsible for your trading only!