✅ Overall Structure
Currently, a large ABCDE triangle structure has completed.
After the corrective phase, the price is moving impulsively in wave (1)(2)(3)(4)(5).
✅ Wave Analysis
Wave (1) and (2) are complete.
The market is currently progressing within wave (3) to the upside.
Projected target for wave (3) is around:
$3,448 – $3,468 (small target box).
After a minor correction in wave (4), the final wave (5) is projected towards $3,500 – $3,550.
✅ Key Zones
Major Support: $3,320 – $3,265 (highlighted red-blue box around wave (2) area).
Nearest Resistance: $3,448 – $3,468 for wave (3), and next resistance zone at $3,500+.
Breakout from the upper trendline of the triangle is confirmed → continuation bullish bias remains valid.
✅ Summary
Current Trend: Bullish, progressing towards waves (3) and (5).
Potential Buy Zone: On a retracement near $3,400 – $3,380, or on a breakout continuation above $3,448.
Potential Take Profit Zone: $3,500 – $3,550.
Invalidation of Bullish Setup: Close below $3,320.
Currently, a large ABCDE triangle structure has completed.
After the corrective phase, the price is moving impulsively in wave (1)(2)(3)(4)(5).
✅ Wave Analysis
Wave (1) and (2) are complete.
The market is currently progressing within wave (3) to the upside.
Projected target for wave (3) is around:
$3,448 – $3,468 (small target box).
After a minor correction in wave (4), the final wave (5) is projected towards $3,500 – $3,550.
✅ Key Zones
Major Support: $3,320 – $3,265 (highlighted red-blue box around wave (2) area).
Nearest Resistance: $3,448 – $3,468 for wave (3), and next resistance zone at $3,500+.
Breakout from the upper trendline of the triangle is confirmed → continuation bullish bias remains valid.
✅ Summary
Current Trend: Bullish, progressing towards waves (3) and (5).
Potential Buy Zone: On a retracement near $3,400 – $3,380, or on a breakout continuation above $3,448.
Potential Take Profit Zone: $3,500 – $3,550.
Invalidation of Bullish Setup: Close below $3,320.
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.
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.