In this zigzag corrective pattern (still in Wave C), we fell through the .618 Fib at $25,955 pretty fast. In addition, we have a long wick from May 12 2022 hanging at that price level too. It's very plausible we will revisit that price level again before a major correction down.
Also, from the bottom up using Nov-22 low-high-low fib extension, Fib 8 at $25,364 is in that same area.
We need to get above the Aug 15,2022 top to complete this correction pattern.
Also, from the bottom up using Nov-22 low-high-low fib extension, Fib 8 at $25,364 is in that same area.
We need to get above the Aug 15,2022 top to complete this correction pattern.