I expect a big bounce. A lot of indicators give signs of a reversal, and buying volume is increasing.
Best case scenario is an iH&S, and we continue to the upside. Worst case scenario is a bounce back down from 3800, to retest the lows, or even look for newer lows.
Short term: bullish
Long term: ???
Although I thought that 2.7K was the bottom, it seems that we won't make it that far. We have a very nice bullish divergence on the 4H RSI, followed by a green volume spike.
Shorts are at an ATH, so a squeeze isn't unthinkable. We also broke out of the short term declining trend line. This could be a nice leg up...
Other thoughts? Feel free to shoot!
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