Intermediate Degree: ▪️We are observing a potential wave (3) down of a descending impulse on the 1-day chart. ▪️Target: $48,000 - $44,000.
Primary Degree: ▪️The 1-day chart suggests wave C down of a zigzag pattern is in progress. ▪️Target: $58,000 - $61,000.
Cycle Degree: ▪️At the cycle degree, wave ((ii)) down of an ascending diagonal appears to be forming. ▪️Target: $52,000 - $58,000.
Disclaimer: This analysis is based on current market conditions and the Elliott Wave Theory. Always conduct your own research before making trading decisions.
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