Bearish
Impulse wave up that finished on 11th November 2021. Followed by an ABC correction.
Where wave (A) finished and we now either in correction (B) or we started the wave C of the correction.
So even though we can count this minor abc correction in wave (B). it does not mean it is finished. Waves B can take the form of complex corrections wxy.
So how do we know if wave (B) intermediate it is finished if it crosses the paralel channel make it official wave (C).
Supporting indicators
RSI -turning down below 50
MACD - Turning below centre line
Targets going forward
1. Target nr 1 $1400 region if it bounces back correction might not be over yet wave (B)
2. Target nr 2 $874 end of wave 5 of (A)
3. Target nr 3 price target $ 458 -480 region based on symmetrical channel and a few Fibonacci Ratios.
Impulse wave up that finished on 11th November 2021. Followed by an ABC correction.
Where wave (A) finished and we now either in correction (B) or we started the wave C of the correction.
So even though we can count this minor abc correction in wave (B). it does not mean it is finished. Waves B can take the form of complex corrections wxy.
So how do we know if wave (B) intermediate it is finished if it crosses the paralel channel make it official wave (C).
Supporting indicators
RSI -turning down below 50
MACD - Turning below centre line
Targets going forward
1. Target nr 1 $1400 region if it bounces back correction might not be over yet wave (B)
2. Target nr 2 $874 end of wave 5 of (A)
3. Target nr 3 price target $ 458 -480 region based on symmetrical channel and a few Fibonacci Ratios.