A fall is possible.

On the weekly chart, a downward correction develops as the second wave of the higher level (2), within which the wave C of (2) develops. On the daily chart, the third wave iii of C of (2) is forming, within which a correction has ended as the fourth wave of the lower level (iv) of iii, and the fifth wave (v) of iii is developing. If the assumption is correct, the price of the asset will fall to the area of 62.50–55.00. In this scenario, critical stop loss level is 81.60.

Main scenario

Short positions will become relevant below the level of 81.60 with the targets at 62.50–55.00. Implementation period: 7 days or more.

Alternative scenario

A breakout and the consolidation of the price above the level of 81.60 will let the asset grow to the area of 92.50–103.00.