Disliked{quote} sPrice crashed right into the NBZ localized above 3810 and so far is rejected. Price is now heavily on the far right tail of the distribution on various profiles. So chnaces build up for a mean reverting or partial reverting. On the way down, price may step its feet into the long NBZ from 3785 to 3765. If further up, I think that price may reload momentum there first A movement below 3727 is needed for better odds of a bearish case (Elliott Wave) {image} {image}Ignored
Well, here we are
Enough damage to an outright bullish move is done.
What was thought to be eventually a wave 4 has developed much deeper. So now we would have wave 1 wave 4 overlap.
So main count is now:
bullish:
from the 364x low an abc-x-abc is developing. We are now in the wave X. This scenario will certainly lead to a fresh high above 39x. When this wave up terminates, it terminates a year long triangle, where the recent move up is the E-wave
bearish:
from the 364x low we have seen an ABC move. Upside is finished. We are down to much lower levels. Because in this scenario, we have just finished a wave 2 up. The year-long triangle was finished at 389x
