So overall indicators have extended lateraly since our last talk but have conserved their .
I gave you the tip to watch a potential 4h crossover that didnt happened and here we are again. I project if 4h dont goes to the positive spectrum we gonna retrace a lower support in a small WXY form. On the other hand. going to positive gonna give a nice impulse up :
I cant really name this current form ; wave 1-2, in regards to the projection because the resistance kinda negate a wave 5 if i take fibonacci ratio of a 1-2 hypothesis. Pattern recognition gonna work better once/if we go there.
Daily indicators are still in favors of bulls since we are still in a and would be unlikely (less than 50% probability) to go further down, breaking support, for now. Histogram extended in the time but still contracting which conserve the for the histogram and make us still expect a crossover. The flat daily lead me to think of a consolidation before further up move (bunny ears form)
We are still moving in compressive triangle so we can expect impulse and price expansion at the end of it. Something like this.
I favor the bulls because the TA and reason i made above which i resume here:
I cant remember where i saw a double flat bottom ( inv bunny ears form) that failed to give outcome. Thats why on the mid term i favor bulls but dont discard a short term retracement to lower support. Remember that i work mostly in macro time frame like daily and 4h so patience my friend and take good position when time come.
To clearly resume in simple words : probaility of lateral fluctuation with minimal move up or down with mid term outcome
WXY pattern recognition bearish scenario:
Clearer post this one is kinda messy.