Alright guys I wanted to get these short term updates first before I updated the macro. These are the two potential scenarios that I'm watching for. The first being that the correction to the upside is finished and we have started the first leg of a complex correction to the downside. We would be trading inside of an expanded B wave. This is invalidated on a break above $11,266.
If that is invalidated, I will be looking for more upside like this:
If price breaks above $11,266, then it is very likely that we will be headed up to higher targets. But there are two key areas where I will be looking for short opportunities if this is the case. The first being $11.5k and the final being $11.7 - $11.8k. Beyond that it's almost a certainty that targets above $12k are in range.
If that is invalidated, I will be looking for more upside like this:
If price breaks above $11,266, then it is very likely that we will be headed up to higher targets. But there are two key areas where I will be looking for short opportunities if this is the case. The first being $11.5k and the final being $11.7 - $11.8k. Beyond that it's almost a certainty that targets above $12k are in range.
