Transcription
Casper, at the time of this recording, continues to attempt a break above our significant key area of resistance above the 0.08189. And yesterday, you can see that after attempting a break above that key area of resistance, we got rejected and started a bit of a short term pullback to the lower side over here. And on today's update video, I will be discussing a potential breakout scenario and, above all, give you reasons why we can see new all time highs on the Casper chart in the next coming weeks. So make sure that you stick around till the end of the video. And starting the video here on the daily chart, I still maintain that from the lows we made back in 2023, we started a very impulsive bounce to the upside in a move that gave us new all time highs above the 0.21, and that impulsive bounce to the upside topped impulsively in the formation of this adiative count one.
And having picked impulsively in the formation of that wave one, I was expecting a bit of a breakdown move in the formation of a larger area to account two, whose minimum target areas I have marked here on the chart. And you can see that the target area lies between the 0.054887 and the 0.11144, an area that we have not fully maximized. And we did so on the March 11, and there are high chances that we now have a law in place in the formation of these two and a bounce in the formation of an area wave count three is now imminent. And the minimum target areas for these wave three can be given by connecting the fib extension from the low of the first wave to the high of this wave one, then dragging the fibs to the low of the second wave. And on so doing, we get a minimum target area for this wave three on the fib level 1.618, and that lies above the 0.37586, an area that we can easily maximize in the next coming weeks, get a new all time high, expect a pullback in the formation of this additive count four, and then continue pushing to new all time highs in the formation of that impulsive head unit of count five.
So that is the road map that I'm expecting Casper to follow on the on the daily chart. Jumping to the one hour chart to now focus on the short term, analysis, giving you the key areas of resistances that we need to see a break above in the next coming hours. Here on the one hour chart, from the lows we made on the March 11, I have been expecting to see a five wave structure to the upper side. And so far, all I can see is a wave one. Then we have seen a pullback in the formation of these wave two, and whatever we have over here is unfolding like a three wave structure, in the formation of these f three.
So there are high chances that these can easily turn out to be an ABC corrective structure having these as a wave a, then a breakdown move in the formation of this wave b, and the high chances that we can easily get one more new high in the formation of this wave c, fully maximizing our minimum target areas in the formation of this wave three, then expect a pullback in a wave four and then continue pushing even higher. And the moment we get a complete five wave structure to the upside, that will be enough confirmation that we have a low in place in the formation that is on the low we made on the March 11, and a more bullish case scenario is now unfolding. And for us to continue pushing higher in the formation of this FC, we need to see a break above the significant key area of resistance above the 0.08189. The moment we get a sustained break above that key area of resistance, we need to see a retest then continue pushing higher. And the minimum target areas for these we have seen can be given by connecting the fib extension from the low of the first wave to the high of this wave one, then dragging the fibs to the low of the second wave.
And on so doing, we get a minimum target area for the wave three, the fib level 1.618, and that lies above the 0.99 or six, an area that we can easily maximize in the next coming days. So that is all that I'm expecting on the short term. And one last thing is that we can also get rejected over here. And if that plays out, then I will be watching for a worst case scenario that can easily give us a reset of the loads we made in the formation of this FB and maybe at some point, get a deeper retracement in the formation of this f b before we can finally start another reversal to the upside in the formation of this f c. So that is all that I'm expecting here on the Casper chart, and let's be patient and see how that plays out, and I will ensure you stay up to date.