It seems like the price has formed a 5-wave bullish impulsive move and could now begin its bearish move.
For the bearish move to be confirmed, we need to see the price breaking below the bullish channel line and also closing below the VWAP.
Bearish confirmations:
Bearish divergence in the 4H timeframe.
Completion of the 5-wave bullish impulsive move.
Momentum oscillator in overbought (OB) territory.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
For the bearish move to be confirmed, we need to see the price breaking below the bullish channel line and also closing below the VWAP.
Bearish confirmations:
Bearish divergence in the 4H timeframe.
Completion of the 5-wave bullish impulsive move.
Momentum oscillator in overbought (OB) territory.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
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Have you seen this beautiful Elliott wave analysis???
