Good days my friend. I will try to be here not only when I find the right answer but also when I am wrong.
Unless the price exceeds the top of 1738, we can think that there is still a correction wave, not an impulse.
If 1738 is exceeded, we can talk about an impulse wave.
Movement within the channel may be a very rare W, X, Y, X, Z correction. This correction proceeds in parallel channels.
Or it could be A, B, C (W), X, A, B, C (Y) correction. These are prolonged correction patterns.
It is necessary to watch the price movement for a few days here. Will the price cross the top of 1738 or aggressively turn down.
If it turns the price direction down, we can think that the top formed today is the corrective wave 2.
Therefore, a downward aggressive 3rd wave may come.
I am still expecting a drop in the medium term to 1610 and 1490 usd. (Unless 1738 is exceeded.)
I could be wrong. We'll wait and see.
Unless the price exceeds the top of 1738, we can think that there is still a correction wave, not an impulse.
If 1738 is exceeded, we can talk about an impulse wave.
Movement within the channel may be a very rare W, X, Y, X, Z correction. This correction proceeds in parallel channels.
Or it could be A, B, C (W), X, A, B, C (Y) correction. These are prolonged correction patterns.
It is necessary to watch the price movement for a few days here. Will the price cross the top of 1738 or aggressively turn down.
If it turns the price direction down, we can think that the top formed today is the corrective wave 2.
Therefore, a downward aggressive 3rd wave may come.
I am still expecting a drop in the medium term to 1610 and 1490 usd. (Unless 1738 is exceeded.)
I could be wrong. We'll wait and see.