The price is in a correction and a fall is possible.
On the daily chart, a downward correction ended as the fourth wave of the higher level (4), and the fifth wave (5) develops, within which the wave 1 of (5) formed. Now, a local correction is developing as the second wave 2 of (5), within which the wave c of 2 is forming. If the assumption is correct, the price of the asset will fall to the area of 156.00–145.83. In this scenario, critical stop loss level is 180.00.
Main scenario
Short positions will become relevant below the level of 180.00 with the targets at 156.00–145.83. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 180.00 will let the asset grow to the area of 196.30– 210.00.
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