A fall is possible.

On the daily chart, a downward correction of the higher level develops as the wave B, within which the wave (A) of B formed, the correctional wave (B) of B ended, and the wave (C) of B develops. Now, a local correction has formed as the fourth wave of the lower level 4 of (C), and the fifth wave 5 of (C) is developing. If the assumption is correct, the price of the asset to the area of 50.00–40.00. In this scenario, critical stop loss level is 75.90.

Main scenario

Short positions will become relevant below the level of 75.90 with the targets at 50.00–40.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 75.90 will let the asset grow to the area of 89.55–103.86.