*Bullish Case (Wave 4 complete soon)
-If price stabilizes within or just under the green support zone, and begins forming higher lows-> this would be wave 4 bottom.
-Look for break about the red corrective channel, followed by confirmation candle to rejoin the uptrend (wave 5)
Wave 5 Target Projection:
-Use Fib extention of wave 1-3 from wave 4 low.
-Possible...
Price has now made a higher high and higher low post Wave C. Potensial early stage of new impulse wave (wave 1 og the 5th wave).
Price above all 3 EMAs (21/50/89).
89EMA>50EMA>21EMA (bearish alignment still intact (may shift bullish soon)) . indicates a potensial pullback for wave 2 of the bigger 5th wave. Bullish price action forming despite slow EMA alignment...
1.The chart is showing a series of higher highs and higher lows, indicating an overall uptrend.
2. *Price is above the 20-day MA - Typically a bullish signal.
* (50-day and 89-day MA) are trending upwards and far below the current price, reinforcing a longer-term bullish trend.
Recent Candlestick Action: A strong bullish candle recently bounced off the blue MA...
