With the recent price fall, it gives us two Elliott waves ideas.
An ending diagonal, which should take the price down to the $4800/ $4500 level, in a Wave 4. Then a muted Wave 5, which would complete the big wave pattern.
Or this drop is a C wave in an expanding flat pattern. This is a dramatic pattern, which should take the price down to the $3650- $3227 range, and very quickly, before the bull market continues.
An ending diagonal, which should take the price down to the $4800/ $4500 level, in a Wave 4. Then a muted Wave 5, which would complete the big wave pattern.
Or this drop is a C wave in an expanding flat pattern. This is a dramatic pattern, which should take the price down to the $3650- $3227 range, and very quickly, before the bull market continues.
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