Growth is possible.

On the daily chart, the downward wave of the higher level B ended, within which the wave (C) of B formed, and the upward wave C started. Now, the entry first wave of the lower level i of 1 has formed, a local correction has ended as the second wave ii of 1, and the third wave iii of 1 is developing. If the assumption is correct, the asset will grow to the area of 20.00–21.60. In this scenario, critical stop loss level is 15.90.

Main scenario

Long positions will become relevant above the level of 15.90 with the targets at 20.00–21.60. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 15.90 will let the asset go down to the area of 14.60–13.50.