Price is consolidating in the area between the 38% and the 618% fib extension of the 3rd wave up. This is to be expected before the next move higher. In a bearish sign, price closed below the yellow 50 day Bollinger Band's outer band. If price does not quickly climb past the that line, I would expect a bigger selloff, down to at least the midline of the BB.
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Disclaimer: This post is for educational purposes only. Trading is at your own risk.
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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.