Not really believing in bull scenario due to Fundamentals and Volume indication as well as lack of clear C wave of the major correction as a part of macro wave 4, but just wanted to try myself in EWs theory, which is still new to me. If you see mistakes, please correct me.
Major takeaways - in either macrobull or macrobear scenario, retracement to 4140s is very likely (the 4th wave of lower order). If we also examine my previous FA and TA, we are still bearish and most like will see one last small wave upwards (as part of the micro 5th wave here) and then correct eventually to ~anywhere between 2880s and 1880s, but most likely ~2400s.
Major takeaways - in either macrobull or macrobear scenario, retracement to 4140s is very likely (the 4th wave of lower order). If we also examine my previous FA and TA, we are still bearish and most like will see one last small wave upwards (as part of the micro 5th wave here) and then correct eventually to ~anywhere between 2880s and 1880s, but most likely ~2400s.
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Important update: since wave 3 can't be the shortest, means wave 5 must be shorter than 990 USD. Thus it can stop anywhere under $5115. So 4597 and 4831 are 2 most probable targets.
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We prodded the red semi-transparent line and then got strongly rejected. I believe this wave 5 is about to be over really soon, if my count was correct. A major correction is coming soon iiac.
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Should bounce off of the top of this subwave 3 @ $4460s or so, retrace around 50-62% to $4640+ and then more down movement.
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I am not 100% sure we will make a $200 bounce up from 4460s. If the sell-off is too strong, we might not find any strong bounce ups until 4100s. Be alert and monitor the price movement as well as volume bias.
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Important update (I may have figured it out):
