Long

Bears about to get rekt

Updated

Double bottom forming

U-shaped volume

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We have 12hr doji reversal candle. Fib time zones predicted this move here. Everything as planned. We should see more bull action now. Enjoy the show

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Short-term possible pullback.

Bearish divergence on hourly

and cloud resistance blocking our way up

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We are still under 4h cloud resistance. Whats interesting to me it looks kinda similar to previous price and RSI action. Also that previous situation was under 4h cloud too which bull managed to break. Im expecting the break to the upside so I wont be surprised it doing it here

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So the bulls could push here or rather do some side trip under and penetrate the cloud from behind. The result should be the same

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the second way then

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In case this double bottom idea fail I would watch this

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Second path seems working as planned

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Green falling wedge destroyed. Its time to test red log scale downtrend line

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~8700-8800 is the resistance from log downtrend. Expect bigger pullback there

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Here is my current count of EW. Only not sure if wave 4 is finished or maybe will need to get lower

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Ok guys. Last idea following my prediction so far. Here is the updated version of it

s3.amazonaws.com/tradingview/snapshots/z/zPaCjuZF.png

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Wow bulls. That was quicker than I expected. Looks like we are above log downtrend line (red) but I'm not convinced yet because we are also in some kind of a ugly rising wedge. Waiting to see which way will it break before taking any position.

I also watch this inverted H&S as a posibility. If we fall down from the rising wedge then its very likely to happen

DeadSerious

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