I think that achieving your target it do will have an important retracement, but around 50% of this last impulse we are in now. It has completed the correction and we are now in Wave 1, the retracement from your target will take us to Wave 2 of the new cycle, and then Wave 3 will break the resistance.
JMilk
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@Pepe0722, Where do you see wave 3 and 4? Are you counting the low of $9002 wave 3, and the swing high of $12972 wave 4?
Pepe0722
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@JMilk, I´m counting ABC correction, did you see weekly chart? I know there are some strong levels to still be achieved to think so, but weekly suggest in a very convincing way a long trend reversal with a bullish doji candlestick and in their way to confirm it with this week candle.
JMilk
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@Pepe0722, yeah i see that on the Weekly. Im still seeing that as the bottom of the 3rd. We shall see my friend. Thank you for the feedback!
Pepe0722
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@JMilk, Let´s se what happens, this market is a mystery :).
Regards.
RhysComley
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@Pepe0722, i 100% agree, it was a 5 wave bull run and a 3 wave ABC bear correction
JMilk
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@RhysComley, lets get that 4k >:)! The 11.5k level will tell us...