I decided to see how deeply the asset price fell and where it is possible to expect a pivot point.
At the moment, there are 3 points - 120.8, 116.1, 104.9.
While there is a clear five-wave movement in the decline, in which we have ideal ratios, the 3rd is 1.618 from the 1st, the 5th is 0.618 from 3. (indicated). To tell. that this zigzag is possible with a stretch, I can't see it. I can’t say unequivocally that this is the end of the decline, and the price will not dive yet, but with a probability of 65%, yes.
Also noteworthy is the fact that the price did not hold on to EMA500.1000, but went lower, most likely we will have a reaction to EMA2000. Among other things, if we compare the period of the previous sideways movement, by superimposing it on the current one, then it is already coming to an end.
Summing up the intermediate result, we can conclude that this is wave A and we will have a rebound in B to about 141, then the continuation of wave C up to 104.1. Both wave B (most likely) and wave C can coincide with the report)
There may be an option that the last top, designated as (III), was a small wave b and the entire observed movement is an extended wave C, which is equal to 2.618 from A (Irregular ZigZag with C-wave Extended Irregular ZigZag). There is a "false" breakdown of EMA1000. This is the second movement option.
For a long-term purchase, both options are acceptable, for a short-term and medium-term transaction, the situation is ambiguous.
At the moment, there are 3 points - 120.8, 116.1, 104.9.
While there is a clear five-wave movement in the decline, in which we have ideal ratios, the 3rd is 1.618 from the 1st, the 5th is 0.618 from 3. (indicated). To tell. that this zigzag is possible with a stretch, I can't see it. I can’t say unequivocally that this is the end of the decline, and the price will not dive yet, but with a probability of 65%, yes.
Also noteworthy is the fact that the price did not hold on to EMA500.1000, but went lower, most likely we will have a reaction to EMA2000. Among other things, if we compare the period of the previous sideways movement, by superimposing it on the current one, then it is already coming to an end.
Summing up the intermediate result, we can conclude that this is wave A and we will have a rebound in B to about 141, then the continuation of wave C up to 104.1. Both wave B (most likely) and wave C can coincide with the report)
There may be an option that the last top, designated as (III), was a small wave b and the entire observed movement is an extended wave C, which is equal to 2.618 from A (Irregular ZigZag with C-wave Extended Irregular ZigZag). There is a "false" breakdown of EMA1000. This is the second movement option.
For a long-term purchase, both options are acceptable, for a short-term and medium-term transaction, the situation is ambiguous.