A fall is possible.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction develops as the second wave (2), within which the wave C of (2) forms. Now, the first wave of the lower level i of C of (2) has ended, a local correction has formed as the second wave ii of C of (2), and the third wave iii of C of (2) has started. If the assumption is correct, the price of the asset will fall to the area of 60.00–52.00. In this scenario, critical stop loss level is 81.00.

Main scenario

Short positions will become relevant below the level of 81.00 with the targets at 60.00–52.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 81.00 will let the asset grow to the area of 85.00–88.80.