Bear madness continue

Most likely bear but bull relief target added just in case.

If its a flag, capitulation in next months

I made some mess above with my EW count (anyway general idea is the same)
the count of the big waves as I see it is more like this

Note

Inverted daily view for perspective. We're consolidating above breakout level

Note

I still see it as a downtrend continuation formation. As long as it remains in this range (purple horizontal lines)

On inverted chart above:

break of the green dotted resistance line = long
Break bottom support channel line = short

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Sry inverted is the first one of course. Long/short positions pointed on normal one

Note

here we go

nice retest

Note

Updated chart

Retest of the support on this sideways downtrend consolidation triangle took longer than expected, so the down wave I was expecting on 5th fibonnaci time zone (vertical lines) probably won't happen. We still need to make yet another resistance retest. The drop could start after one more up wave and drop into 6 fib time zone right into capitulation phase. Thats the most possible outcome I can see right now

Note

made little mistake above, I meant drop into 8th fib time zone*
There are 0 - 1- 2 - 3 - 5 - 8 - 13 zones

Note

Trigger line for long position was taken. It's time for some bull waves in the upcoming days.

The downtrend and this idea is not compromised yet. Bull correction here is nothing unusual for the big drop we had, also a move we were considering to happen and put important zones to watch for in case it break which just happend. Although this might be still correction wave 4 on big downtrend

As for now it might be good opportunity to look for some short term long entry (on pullbacks)

More updates are on my newest chart.

DeadSerious

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