In the previous update I identified the move from $2980 to $1830 as a W-X-Y correction within a rising trend and expected bullish sentiment to set in. The first target was $2760, and here we are now. Currently I expect the price to make a new all-time high soon. There is a clear _5-wave impulse_ developing with 4th wave being a Triangle. Key price levels are drawn on chart.
Note
Unfortunately, Triangle-based setup proved wrong. The correction continues and I expect lower prices as indicated on the chart below. If price breaks below $2400, the overall bullish scenario is greatly at risk.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.