A fall is possible.

On the daily chart, the first wave of the higher level (1) of 5 ended, and a downward correction develops as the second wave (2) of 5. Now, the wave А of (2) has formed, the upward correctional wave B of (2) has ended, and the development of the wave C of (2) has started. If the assumption is correct, the price of the asset will fall to the area of 120.20–115.30. In this scenario, critical stop loss level is 146.95.

Main scenario

Short positions will become relevant below the level of 146.95 with the targets at 120.20–115.30. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 146.95 will let the asset grow to the area of 153.68–160.00.