A fall is possible.

On the daily chart, the third wave of the higher level (3) ended, and a correction started as the fourth wave (4). Now, the wave А of (4) is developing, within which the third wave of the lower level iii of A has formed, and a correction is ending as the fourth wave iv of A. If the assumption is correct, the price of the asset will fall to the area of 129.85–115.00. In this scenario, critical stop loss level is 169.24.

Main scenario

Short positions will become relevant below the level of 169.24 with the targets at 129.85–115.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 169.24 will let the asset grow to the area of 193.00–215.00.