Correction wave coming to an end

27 sept. 2021

In the short term we are nearing the expected target of the bear head & shoulders pattern formed on the daily but the Fib conditions for wave C's completion have been met. This means that we may break down from here to realize that target but it is entirely possible that wave C is complete and $39,500 will be the higher low for the time being. In the longer term view, we are wrapping up this set of corrective waves and forming one of the larger cycle's waves down in the overall trend upwards. Fibonacci ratios show that the overall uptrend is still valid and the completion of this corrective wave will initiate the beginning of the next impulsive wave upwards. Targets are appropriately ridiculous for another impulse wave following the 65K ATH.