The price is in a correction and a fall is possible.
On the daily chart, a downward correction of the higher level develops as the wave 2, within which the wave (C) of 2 forms. Now, the third wave 3 of (C) has ended, and a local correction is developing as the fourth wave 4 of (C). If the assumption is correct, the price of the asset will fall to the area of 60.00–40.00. In this scenario, critical stop loss level is 88.34.
Main scenario
Short positions will become relevant below the level of 88.34 with the targets at 60.00–40.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 88.34 will let the asset grow to the area of 103.00–121.50.
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