As all Elliott Wave counts can be interpreted different, this is just one I have been going over and one that I like.
A lot of confluence with the count; with it needing one more leg down for an orange wave 5, bringing it to the overall red ABC count down to $21. Orange 5 waves down has a potential target of $20.74. Red ABC count down C has potential target of $21.02. I like finding as much confluence or "makes sense" counts. To add to it, the overall larger count, from going from the $4 range to the rocket up to $70, the .618 fib retrace overall in White comes to $19.90.
With the Elliott count, there is also the trend lines, and currently per one we have falling down and under support. I'm leaning slightly bearish with targets of first $25 to retest the low, and if fails, then test of $20. I think if $25 holds and a higher low is put in, it could try to go back up to the $37 range to regain trend support. As of right now, I'm leaning lower and any trades I would do I would keep low risk.
A lot of confluence with the count; with it needing one more leg down for an orange wave 5, bringing it to the overall red ABC count down to $21. Orange 5 waves down has a potential target of $20.74. Red ABC count down C has potential target of $21.02. I like finding as much confluence or "makes sense" counts. To add to it, the overall larger count, from going from the $4 range to the rocket up to $70, the .618 fib retrace overall in White comes to $19.90.
With the Elliott count, there is also the trend lines, and currently per one we have falling down and under support. I'm leaning slightly bearish with targets of first $25 to retest the low, and if fails, then test of $20. I think if $25 holds and a higher low is put in, it could try to go back up to the $37 range to regain trend support. As of right now, I'm leaning lower and any trades I would do I would keep low risk.