Compound next price target

16 ส.ค. 2021

After correcting above the trendline 525. Price will first either either correct to 600usd. If this happens several possibilities will unfold. 1st a 3-wave pattern triangle might form to quickly give d market a push above 600, then straight way to next target. 2nd, if by chance it fails due insufficient liquidity, might descend to form an ascending channel of 3-5wave pattern, a rectangle of which a breakout will terminate the pattern to move to target. Lastly price moves so fast to target, it's gonna need a lot of bullish pressure to keep it above target of which if d buy orders keep on limiting will result in a mini crash to complete d correction it suppose to have done at 525. This will bring us to the beginning of a new market pattern of descending triangle between target and breakout of which may be continuous or discontinued by a divergence leading to another Elliot wave case event. In summary, a breakout candle is okay to which a bare correction will be needed to satisfy Elliot wave be heading to target. A slight correction is better which will move price to target and leading higher price target.