"The most important thing in order to predict the reversal point is to find out the downtrend timeframe. For sure its not a downtrend happening on timeframe. So is it 3D or Weekly?
On the 3D chart we see that the price is siting at the EMA200 (EMA200 is usually the reversal point for the timeframe that the downtrend is happening). So if it was a downtrend on a 3D chart, we might be at the reversal point. However people say that there is forming which is usually a continuation pattern. But we need to remember that lines (support, resistance, neckline, …) in chart patterns are not exactly lines but areas. and the last two tops $11450 and $9700 are not that much far away that they can not be in a same area. I'm not saying that its definitely true but we still have a chance to see the triple bot formation, especially with price sitting at 3D EMA200, showing triple bots, and TDseq which predicted last two bots correctly is going to mark the #9candle ( we need to wait till mid week for this).
If the downtrend is going to be one happening at , the reversal point will be around $4000 which is the 200 region. It should not happen because recovering from a weekly downtrend needs 1-2 years. However recovering from a 3D downtrend can happen in 6 months. As you can see in the picture.
So to conclude I hope for 3D downtrend, which means the that we are at right now should hold. but if it breaks down (=breaking down the EMA200 on 3D chart) and we see the confirmation, we should wait for the $4000. I like to say its not likely to happen, but we have to wait and see what market decides."
So is that still valid? can we still hope for 3D scale downtrend to be true?
YES, but how?
Lets recall another post, which was on Jul23
"As you see on the chart we are right below the MA50, pushing it hard, but its always a strong resistance, always. So can we break it? hopefully, but we need to see a pullback before breaking that price range.
By the way, as you see there is some red doted lines on the chart, they are possible resistances based on the price history, and right now we are having one of the at the same price range that MA50 is, meaning it would be really hard to break it now, without some pull back.
So to what extend we gonna see a pullback? Probably not below ~7200 which is the previous red doted line. Worse case scenario right now would be ~6800 which is the BB20 and more importantly the upper band of the bottom that we were struggling breaking for more than a month."
So, it happened, we didn't officially break MA50 (a valid break need confirmation which is going back to test the previous resistance as support and it should act as a support). A pull back to BB20 was probable, and right now its holding the price as support. As far as BB20 holds we can hope for a uptrend, if it breaks next target will be EMA200. We talked about if the EMA200 breaks the next target can be $4000.
Right now there is no reason to panic and expect BB20 not to hold as a support, because the indicators on 3D scale are not (though they are not yet, but apparently goin to be)
Remember that "The stock market is a device for transferring money from the impatient to the patient."