We are in a bigger correction (wave 4) (the structure from 35oo K) before final push up.
Wavecount and fibs suggests that we might correct to around 15.7 to complete wave 4. We will see what corrective pattern is forming.
I don't think we will see a correction deeper than that because we have not finished 5 waves up yet (as I see it).
-----------------------
It is still possible that 5th wave up will end at around 21 K. If it does bear market could resume.
If 5th wave gets to around 22.5 k. This could be 1st wave of a bigger 3rd wave. We should then expect a deeper correction, because correction would then be wave 2. We willl see how it progresses.
Wavecount and fibs suggests that we might correct to around 15.7 to complete wave 4. We will see what corrective pattern is forming.
I don't think we will see a correction deeper than that because we have not finished 5 waves up yet (as I see it).
-----------------------
It is still possible that 5th wave up will end at around 21 K. If it does bear market could resume.
If 5th wave gets to around 22.5 k. This could be 1st wave of a bigger 3rd wave. We should then expect a deeper correction, because correction would then be wave 2. We willl see how it progresses.
Note
It seems we have finished a zigzag down. It gives a scenario, that the blue (V) will extend higher or we willl get 3 waves up and then continue correction down.Note
It looks as if we go up and break 20K.Note
a little premature with the bullish count. We might still be in corrective mode(a triangle as b-wave?Note
Note
this is also possible scenario short-term.Note
this pattern looks complete. Note
since we had a new low, correction is likely not over yet.2 scenarios I am watching
Note
although it is still possible that we get rejected and continue correction, the current move up does looks like af bullish 5 wave structure and not a corrective one. lets see if this move up breaks the top Note
Wavecount update
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.
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.