https://www.tradingview.com/chart/OLbtKTqz/
This is definitely one of the more probable scenarios, since there are a few factors coming together as to why we would correct to around $4.5k!
1) At that level is the 0.786 fib retracement
2) We have a sloped long term support line coming up to probably be met at around 4.5k
3) We would be in wave 4 territory, which usually offer lots of support
4) From a symmetry point of view we could very well finish the WXY of the larger Y to complete the large WXY structure
If this was helpful to you, a like and follow would be very much appreciated! Thank you!
Take care!
This is definitely one of the more probable scenarios, since there are a few factors coming together as to why we would correct to around $4.5k!
1) At that level is the 0.786 fib retracement
2) We have a sloped long term support line coming up to probably be met at around 4.5k
3) We would be in wave 4 territory, which usually offer lots of support
4) From a symmetry point of view we could very well finish the WXY of the larger Y to complete the large WXY structure
If this was helpful to you, a like and follow would be very much appreciated! Thank you!
Take care!
