Growth is possible.

On the daily chart, the downward wave of the higher level B ended, and the upward wave C started, within which the entry first wave 1 of C forms. Now, the third wave of the lower level iii of 1 is developing, within which a correction has formed as the wave (iv) of iii, and the wave (v) of iii is developing. If the assumption is correct, the asset will grow to the area of 24.50–26.00. In this scenario, critical stop loss level is 21.00.

Main scenario

Long positions will become relevant above the level of 21.00 with the targets at 24.50–26.00. Implementation period: 7 days or more.

Alternative scenario

A breakout and the consolidation of the price below the level of 21.00 will let the asset go down to the area of 19.78–17.30.