One thing is clear this price chart is a mess!
On almost all TF we have multiple three wave patterns which makes it quite difficult to read.
However, I do have three possible outcomes but all will eventually lead to more downside momentum in the future.
1) The last WXY (in red) is currently in the wave x and price will eventually go higher and bounce of the resistance zone.
2) the wave X (alt. X; blue color) is already over and price will rather soon go down. A possible confirmation would be the break of the support area. After that wait for a proper retest and go short from there.
3) A triangle pattern with a flat bottom for the wave X. There is no good trade yet for this scenario. One would need to wait for price to bounce of the upper trend line (early and risky entry) or again break of the support level.
On almost all TF we have multiple three wave patterns which makes it quite difficult to read.
However, I do have three possible outcomes but all will eventually lead to more downside momentum in the future.
1) The last WXY (in red) is currently in the wave x and price will eventually go higher and bounce of the resistance zone.
2) the wave X (alt. X; blue color) is already over and price will rather soon go down. A possible confirmation would be the break of the support area. After that wait for a proper retest and go short from there.
3) A triangle pattern with a flat bottom for the wave X. There is no good trade yet for this scenario. One would need to wait for price to bounce of the upper trend line (early and risky entry) or again break of the support level.