I have one completed impulse wave (green ellipse), with bullish and bearish interpretations of price action in the blue ellipse. Two impulse waves down from today's high of 4430.50 (red ellipses).
If price breaks above 4417.50 with impulsive action, then I think that a long-term bottom at 4235.50 is most likely complete.
If high of today holds as resistance, and price moves impulsively to break support at 4304 and 4242.25, then we are likely (slightly more than) halfway through our correction from high at 4683.50.
Regardless how this plays out, I now believe that October 2022 low will remain intact (for next 6-18 months at least), and bulls will find a long-term bottom above 4000. I do expect ATHs to be tested in the next 6-12 months.
If price breaks above 4417.50 with impulsive action, then I think that a long-term bottom at 4235.50 is most likely complete.
If high of today holds as resistance, and price moves impulsively to break support at 4304 and 4242.25, then we are likely (slightly more than) halfway through our correction from high at 4683.50.
Regardless how this plays out, I now believe that October 2022 low will remain intact (for next 6-18 months at least), and bulls will find a long-term bottom above 4000. I do expect ATHs to be tested in the next 6-12 months.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.