I'm still bearish, but I believe price needs to move a little higher before the bears appear. A nice bull trap to break the all time high, before a reversal to the 1800 handle.
Calculating the mid point of the wave and using symmetry, the target should be around the 3100 level. Coming from another angle, I used another method to get close to the same result.
So the chart shows, both methods have a market top around 3000-3100. I have also drawn in the Elliot waves, which align with the mid point (wave 3). There has been no weekly or monthly sell pivot, and
with MACD indicator is confirming a continuation on the recent move up. Price still has more work to be done at higher prices.
Calculating the mid point of the wave and using symmetry, the target should be around the 3100 level. Coming from another angle, I used another method to get close to the same result.
So the chart shows, both methods have a market top around 3000-3100. I have also drawn in the Elliot waves, which align with the mid point (wave 3). There has been no weekly or monthly sell pivot, and
with MACD indicator is confirming a continuation on the recent move up. Price still has more work to be done at higher prices.
Time is the only true currency...how will you spend yours and what value will you receive?