This count assumes that 5 waves (yellow) are done, and since 3rd wave extended a lot, 5th can be be short lived. Also the 5 subwaves (green) appear to be done. If we assume the bottom in Dec and this 5 wave move as the 1st wave of a new bull cycle, the possible correction levels are shown in the chart from the Fib levels.
However, note that technically the correction can go as low as $23 and still make new highs. So take care when you long (especially now)
However, note that technically the correction can go as low as $23 and still make new highs. So take care when you long (especially now)
Note
The revised count (green) suggests the top is in , at least for now. Take careNote
Yup, looks like we were correct
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Follow me for more updates
twitter.com/imkeshav
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twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
Related publications
Disclaimer
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.