Growth is possible.

On the daily chart, the third wave of the higher level (3) forms, within which the third wave of the lower level 3 of (3) ended. Now, a correction has formed as the fourth wave 4 of (3), and the fifth wave 5 of (3) has started. If the assumption is correct, the asset will grow to the area of 141.50–170.00. In this scenario, critical stop loss level is 93.70.

Main scenario

Long positions will become relevant above the level of 93.70 with the targets at 141.50–170.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 93.70 will let the asset go down to the area of 77.95–64.40.