🔹 Current context:
• We are probably going through an A-B-C corrective phase.
• The price broke an important support level at 2,579 (EMA 7) and touched 2,510.
• Currently the price is at 2,552 and is approaching a strong support area.
🔁 Wave A-B-C on the time frame (approximate)
wave
time taken
From price to price
Notes
A
About 3 days
From 2,880 to 2,510
A relatively sharp and rapid decline, representing the beginning of a correction
B
approximately 1.5 days
Rebound to 2,649
Relatively weak bounce, did not break the EMA resistances strongly
C
It started about 8 hours ago.
From 2,649 to 2,552 currently
Continuous and may reach 2,440 or 2,368
📅 Timeline for Wave C:
• If the duration of wave C is the same as wave A (which is common in Elliott corrections), then:
• Expected duration of wave C: approximately 2.5 to 3 days from the start of the decline (approximately starting on May 15th evening).
• Expected end point: approximately May 17-18 in the morning.
⸻
🎯 Timeline:
• Sensitive time zone: From now until the morning of May 18.
• If the price reaches 2,440 or 2,368 during this period and a reversal candle appears → there is a high probability that wave C has ended and a new upward wave has begun.
• If no reversal candle appears by the end of May 17, the correction may extend to a compound wave (WXY or irregular flat).
⸻
📌 What is recommended:
• Monitor time + price action together at support areas.
• If there is a compatibility between:
• Expected end time (May 17-18)
• The appearance of technical reversal signals (RSI, engulfing candle, or breaking a downward trend line)
→ It is an opportunity to enter a new rising wave.
