After squeezing the price in the range of $ 80 to $ 100 in 4 out of 5 of Elliott's 5 main moves and creating the ABCDEFG pattern, we saw the price move upwards, which is 1 in 5 of Elliott's second move for the coming days.
The price is currently adjusting in the range of 0.5 to 0.618 Fibonacci
If the price can stabilize above the $ 190 range, it can move towards the price targets, which is first the previous price ceiling and then move towards the end of wave 5.
To move the price to $ 800, it is necessary to stabilize the price above $ 450
To continue moving, it is necessary to break the downward trend line (red line) of the previous ceilings!
I have used RSI here to validate the movements
Zoom in on the chart for more details
The price is currently adjusting in the range of 0.5 to 0.618 Fibonacci
If the price can stabilize above the $ 190 range, it can move towards the price targets, which is first the previous price ceiling and then move towards the end of wave 5.
To move the price to $ 800, it is necessary to stabilize the price above $ 450
To continue moving, it is necessary to break the downward trend line (red line) of the previous ceilings!
I have used RSI here to validate the movements
Zoom in on the chart for more details