The index under consideration, like the cryptocurrency market, is experiencing some pressure from sellers while remaining at its peaks. The situation is still manageable, and the observed decline fits into the presumed wave pattern.
However, buyers need to start reacting, as the lower boundary of the channel is dangerously close. Breaking this boundary threatens severe consequences, causing the price to drop significantly and introducing major revisions to the current wave layout.
For now, everything appears to be part of the final stages of the forming corrective Wave 4, and a resumption of growth is expected in the future, during which the final Wave 5 of (v) will be formed.
Investment idea: BUY 21150, SL 19700, TP 21150.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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