It looks like the recent breakout above the trend line might be a fake breakout. This is the current scenario that indicates a possible drop towards the level of $7,721.
Note
To be or not to be.Interesting levels.
Targets on Chart.
Note
The horizontal correction is getting stretched in price and time, but it does not mean this would be the second wave X in development, because as soon as the level of $7,890 is violated we will have the first confirmation that the low of the wave 2/b is in place.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.