Ok, folks!
I have recently mentioned, that I see two major options for the future of the chart:
- New Impulse -> New heights
- Double ZigZag -> New lows.
For both options we need to have a 5-3-5-3-5 -> A-B-C -> 5-3-5-3-5 to start with and then chart can down as a wave A of new ZigZag or as wave 4 in the impulse. If that wave will go below the top of the first 5-3-5-3-5 - the pattern will look more like a double ZigZag. Here are few options that I see at the moment:
Double ZigZag. We are now in the C of the linking A-B-C. The C is not finished yet.
Double ZigZag. We are now in the C of the linking A-B-C, but the C has just ended:
We are in the Impulse. In that case, that is too early to say, if the higher level 1 wave is finished or not. It should have 5-3-5-3-5 structure and for now we in the middle of the path.
Here is a development of the idea from the previous post:
Flat correction:
Usual ZigZag:
Considering the written above I keep hodling the FIAT and staying neutral. If the linking A-B-C is not finished now (option 2 pattern will get broken) I will probably set up the price target near $10 000 or $11 600 resistance levels.
Coming back tomorrow with the updates on cryptomarkets
Stay tuned!