In terms of Elliot waves, three scenarios can be considered for
The first scenario is to start the upward movement from now
In the second scenario, we can move up from now on, but in the future we will see weakness in the upward direction and we will move down again within 5 waves (flat correction pattern will be formed).
In the third scenario, we have to move down through 5 waves, of which 3 waves have been completed so far and we are now in wave 4. So we have to have another downward wave. The maximum amount of this decrease is up to the level of 14 thousand dollars.
Which scenario do you agree with?
In the second scenario, we can move up from now on, but in the future we will see weakness in the upward direction and we will move down again within 5 waves (flat correction pattern will be formed).
In the third scenario, we have to move down through 5 waves, of which 3 waves have been completed so far and we are now in wave 4. So we have to have another downward wave. The maximum amount of this decrease is up to the level of 14 thousand dollars.
Which scenario do you agree with?