We were anticipating an impulsive move 2× than the previous impulsive move. Price is currently in a corrective phase, a bullish push is anticipated as the previous impulse we had was to the upside
Keeping it simple; we come from a bullish impulsive move, and we are currently in a corrective phase, the next anticipated move is an impulsive move 2× longer than the previous impulse.
Price broke bullish trendline and broke below the last higher high buyers created, and retested the high confirming sells. We see recent price making a penant which is a correction of the previous impulsive move sellers made, we might see price breaking out low on the correction it is in.
