H1 Pulse Signals. Since we are still above the EQ , I am assuming this pulse is signalling for the targeted 5.8 bounce to retest the broken .
H4 Just had its first pulse with the histogram on the declining indicating that the current downtrend may be over.
However if we do decide to break and close below 5416 EQ on the hourly, then the pulse was signaled for the downside and I will begin to open short positions.
Yesterday closed with a spinning top and the day previously we had a TD9 candle wit h a qualifying TD8 the day before. This is looking a lot like my "bear trap" theory is starting to come true if we get a huge buyback above the previously broken 6.2 from here. Although, I am first focusing on that bounce to retest the 5.8 broken level first before making any conclusions.
And also as I mentioned before, we must hold above that 5416 EQ (equilibrium) level. The good news right now is that we're getting some more pulse dots on the Magic Hat indicator with the MACD currently pointing towards the upside and the histogram indicating the end of a down swing. My focus right now is how Bitcoin will react at the 60 RSI level on the H4 if we get my bounce to 5.8 that I am looking for.