This update follow my last post where I mention about a potential little retracement before next major leg up, if you notice up till now market has not make much move especially to the upside instead its trying to drop but the momentum is holding all the drop attempt back.
My view still remain same as I expect potential drop towards 8500$-8800$ then if this happen it will easily facilitated the much expected rise that will push us towards my immediate sell off target around 9850$ to 10,550$.
By going back to the idea of which is usually characterized by overlapping wave 1 and 4 and also by the shape. However, overlap between wave 1 and 4 is not a condition and it may or may not happen.
While waiting for this little drop towards 8800$ have it in mind that price may tend to shoot up without reaching this level having already tested 89XX zone.
The plan here will be to have close eyes on our immediate to open a long if the level got broken upside.
Thank you and I hope you will find this analysis useful. I will appreciate if my effort can be appreciated with your likes.
This hge rising wedge should be it and it expect to break down at any time from the 10k zone
But, any successful breakout from here through 9470 will lead us to our potential sell off target around 10k zone. Just wait and long the pull back towards 9470$ with tight stop loss.