Wave count shows a clean 5-wave impulse completed at $4.196 (Wave 5 top), with current movement forming an ABC corrective structure. We are likely in Wave (a) of the correction, now eyeing a bounce for Wave (b).
🔹 Key Fib Levels for (b) Rebound:
0.382: $3.995
0.5: $4.033
0.618: $4.071
These are potential resistance zones before a deeper (c) leg. Current low at (a) = $3.870, aligning with 0.815 retracement, indicating strong buyer reaction around this level.
Healthy correction underway — no major trend reversal yet.
Rejection from 0.618 or 0.5 zone could complete Wave (b), setting up Wave (c) pullback.
Key Levels:
✅ Hold above $3.870 keeps structure valid for bullish continuation
⚠️ Break below $3.870 may extend Wave (c) toward $3.75–$3.68 zone
🚀 Break above $4.10 invalidates correction, new bullish impulse may begin
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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.